ACEN programs share sale to raise P30B
FOR CLEAN ENERGY EXPANSION

ACEN programs share sale to raise P30B

/ 02:24 AM April 24, 2025

ACEN programs share sale to raise P30B

MANILA, Philippines — ACEN Corp., the listed energy arm of the Ayala Group, is planning to raise up to P30 billion from the stock market for a financial boost to its renewables expansion.

In a briefing on Wednesday, its president and chief executive, Eric Francia, said the group’s board of directors had given the green light to pursue a stock rights offer, which allows eligible investors to acquire new shares in ACEN.

Article continues after this advertisement

Based on a disclosure before the local bourse, the company said a share would likely be priced at P2.30 apiece.

FEATURED STORIES

The final terms and conditions of the funding exercise have yet to be finalized.

READ: Energy transition is ‘irreversible’–ACEN chief

“[This is] to support our further expansion of renewable projects,” Francia told reporters.

The executive also said a portion of the proceeds from the rights offer would be used for debt settlement.

Article continues after this advertisement

According to Jonathan Back, ACEN’s chief financial officer, the group hopes to complete the fundraising by September.

Aside from this, Francia said other sources of capital could come from new partners, whether in projects here or in foreign markets where ACEN is operating.

Article continues after this advertisement

Officials said the company has no plans yet to penetrate other markets, as it sees further growth opportunities in the Philippines, Australia, Vietnam, Laos and India.

The group also has operations in Indonesia and the United States.

Future plans

ACEN, which has been ramping up its clean energy portfolio, expects to fire up an additional 1.2 gigawatts of new capacity by year-end, with new facilities coming online in the Philippines and abroad.

Two of the major projects scheduled for activation are the 520-megawatt (MW) Stubbo Solar facility in Australia and the 146-MW Monsoon Wind in Laos.

ACEN also has a wind project in Texas in the US, with a capacity of 109 MW, and a hybrid solar-wind plant in India with a 123-MW capacity.

In the local market, the firm has solar and wind plants in Pangasinan and Ilocos Norte slated for commercial operations.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

Currently, its clean energy capacity has reached 7 gigawatts (GW), consisting of operating, under construction, and committed projects.

The company has an ambitious goal of reaching 20 GW of renewable capacity in the next few years.

TAGS: ACEN Corp., capital fund raising, renewable energy

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2025 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.