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Manila Bulletin devider Business devider The Stock Market devider ACEN goes full RE, offloads diesel plants

ACEN goes full RE, offloads diesel plants

Published Jun 17, 2025 11:18 am
Ayala-led ACEN Corp. is offloading its diesel plants to fully embrace renewable energy (RE) into the company.
In a disclosure to the Philippine Stock Exchange (PSE) on Tuesday, June 17, ACEN said it has sold its ownership of three diesel plants, located in the northern parts of Luzon, to AC Energy and Infrastructure Corp. (ACEIC).
ACEIC is an energy investing holding company under the Ayala Group.
According to ACEN, the 52-megawatt (MW) diesel plant of Bulacan Power Generation Corp., 116-MW diesel plant of One Subic Power Generation Corp., and 21-MW diesel plant of CIP II Power Corp. in La Union are set to be sold to ACEIC.
“The completion of the divestment is subject to the satisfaction of agreed conditions precedent and the execution of definitive documentation. The divestment will be implemented via a sale to ACEIC of the company’s outstanding common shares in the aforementioned special purpose companies,” it explained.
Through the recent sale, ACEN has confirmed that it is now a 100-percent RE company.
To further scale up its RE portfolio, ACEN scheduled the roll-out of its stock rights offering of up to ₱30 billion. This will be done from Sept. 3 to 9, 2025, while the listing will begin on Sept 19.
This initiative is said to boost the company’s capital base as it is expanding its green energy projects over the next few years.
Zooming out of the diesel plants offloading, ACEN Australia revealed that its Valley of the Winds project received the Independent Planning Commission (IPC), which would advance its 943-MW wind project with a 320-MW energy storage facility in New South Wales.

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