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Manila Bulletin devider Business devider The Stock Market devider ACEN chief denies rumors that Ayala plans to sell stake

ACEN chief denies rumors that Ayala plans to sell stake

Published Apr 22, 2026 04:11 pm
Jaime Alfonso Antonio Zobel de Ayala, Jaime Augusto Zobel de Ayala, and Eric Francia
Jaime Alfonso Antonio Zobel de Ayala, Jaime Augusto Zobel de Ayala, and Eric Francia
ACEN Corp. Chief Executive Officer (CEO) Eric Francia has dismissed speculation that parent company Ayala Corp. is seeking to divest its stake in the renewable energy producer, rebuffing reports that Japanese and Canadian investors are circling the firm.
Speaking to reporters following the company’s annual stockholders’ meeting on Wednesday, April 22, Francia described the rumors as false and reaffirmed the conglomerate’s commitment to its energy subsidiary.
“Unless I'm the last to know, that's not true,” Francia told reporters.
The denial addresses recent market chatter suggesting the Philippine powerhouse was looking to trim its holdings amid massive regional expansion and a tightening interest rate environment.
The ACEN clarification comes as the Ayala-led company solidifies its capital strategy to support an ambitious target of eight gigawatts (GW) of renewable energy capacity.
Francia noted that ACEN is weighing various financing structures to fund its green energy investments.
While he confirmed that several banking institutions are already engaged in the process, he declined to identify specific lenders. The company is currently conducting operational reviews to determine the most efficient path for capital raising.
The board expects to reach a formal decision on its preferred financing strategy by mid-year. A stock rights offering remains under consideration as part of a broader capital program, though no final board resolution has been passed regarding such a move.
Despite recent headwinds, the ACEN chief said the firm remains focused on transitioning its development pipeline into revenue-generating assets while prioritizing timely delivery and safety.
The utility’s scale has grown significantly following its total pivot away from fossil fuels. By the end of 2025, ACEN reached over eight GW of attributable renewable energy capacity and remains on track to have that entire portfolio fully operational by next year.
Geographically, the company's operations are distributed with 35 percent of the portfolio concentrated in the Philippines and the remaining 65 percent spread across international investments. In the domestic market, ACEN’s attributable renewable capacity reached more than 2,400 megawatts (MW) by the end of 2025.
Currently, approximately 57 percent of that local capacity is operational, while the remainder is in various stages of construction or commissioning.

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ACEN Corp. renewable energy (RE) Ayala Corp.
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