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Manila Bulletin devider Business devider Banking & Finance devider BDO infuses ₱12 billion into ACEN's largest wind project

BDO infuses ₱12 billion into ACEN's largest wind project

Published Jun 26, 2025 12:00 pm
BDO Unibank Inc. (BDO) has teamed up with Ayala-led ACEN Corp. to finance over ₱12 billion or a third of ACEN’s multi-billion-peso loan facility for the Quezon North onshore wind power project, which is set to become the “largest wind power facility in the Philippines.”
According to BDO, ACEN’s total loan package costs ₱34.4 billion, which is expected to be repaid by the power firm in 15 years. Inked in March 2025, the omnibus loan and security agreement (OLSA) was executed between BDO, Bank of the Philippine Islands (BPI), and Rizal Commercial Banking Corp. (RCBC).
This loan will partially finance the 344.5-megawatt peak (MWp) wind power project, which is located in the municipalities of Mauban, Real, Paete, and Kalayaan in the provinces of Quezon and Laguna.
BDO noted in a statement released on Thursday, June 26, that the wind power project is “set to become the largest wind power facility in the Philippines.”
“This project is expected to deliver clean, reliable power to the Luzon grid, help avoid significant carbon emissions, and generate livelihood opportunities for host communities,” BDO said.
ACEN earlier said that the total cost of the wind project is ₱70 billion, with the first phase expected to be completed by the fourth quarter of 2026. The second phase is slated for completion between the end of 2027 and 2028.
The SM Group banking unit added that the project is a major development of “ACEN’s renewable energy expansion and a major contribution to the Philippines’ goal of achieving a 35 percent renewable energy mix by 2030.”
BDO serves as a senior lender in the transaction, while BDO Capital & Investment Corporation (BDO Capital) serves as joint lead arranger, and BDO Trust Investments Group acts as facility agent and security trustee.
ACEN Corporation President and CEO Eric Francia said that “BDO has been a long-standing and trusted partner of ACEN.”
“Their full-spectrum support—from corporate lending to capital structuring and trust management—has played a critical role in advancing this landmark project. This collaboration demonstrates the powerful impact of aligning the financial sector with clean energy development to accelerate the country’s energy transition,” Francia added.
BDO Capital President Ed V. Francisco said that as a joint lead arranger, the full-service investment house is focused on creating innovative and sustainable financing solutions to help forward-thinking companies like ACEN bring their ambitious projects to life.
“We are proud to support projects that create long-term value for the economy and the environment,” Francisco said.
BDO said that the project also supports the bank’s strategy to align its portfolio with the country’s sustainable development goals (SDGs) and help clients shift toward greener business practices.
“This partnership reflects BDO’s broader mission of empowering businesses to thrive while helping move the country toward a more energy-secure and low-carbon future,” said Charles M. Rodriguez, BDO executive vice president and head of the institutional banking group.

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BDO Unibank Inc. ACEN Corporation
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