Ayala-led ACEN Corp. posted a more than fivefold increase in net income during the first half of 2026, driven by stronger energy sales and improved performance across its domestic and international renewable energy (RE) portfolio.

In a disclosure to the Philippine Stock Exchange (PSE) on Tuesday, Aug. 11, ACEN reported that its net income during the first half of the year surged 411 percent to ₱3.9 billion from ₱763 million in the same period in 2025. Overall earnings before interest, taxes, depreciation, and amortization (EBITDA) also jumped 40 percent to ₱14.7 billion.

“ACEN’s performance in the first half of 2026 underscores our recovery from the challenges of the previous year while reflecting the company’s transition into a phase of measured growth,” ACEN President and Chief Executive Officer (CEO) Eric Francia said.

“Amid a continually uncertain environment, our priorities remain clear—protecting our balance sheet, growing our contracted energy sales, and expanding our energy storage asset base,” Francia added.

From January to July, attributable generation from its RE portfolio rose 21 percent to 4,024 gigawatt-hours (GWh), driven by new assets across its markets. Its attributable renewables capacity now stands at 7,517 megawatts (MW), after its battery energy storage projects in the Philippines—which have about 775 MW/1,660 megawatt-hours (MWh) of capacity—broke ground.

Domestic revenues likewise increased 41 percent to ₱23.6 billion, as higher contracted energy sales from its growing retail electricity supply (RES) business drove earnings. During the period, ACEN RES increased its portfolio to 587 MW, while its 160-MW mid-merit contract with Manila Electric Co. (Meralco) also contributed to the company’s Philippine revenues.

Its local RE generation grew 17 percent to 1,091 GWh, as its Pagudpud and Capa 2 wind projects in Ilocos Norte province delivered improved generation.

Its operations in Australia likewise improved on contributions from its Stubbo solar operations and reduced grid curtailment at New England solar 1 project. Its battery energy storage project is expected to become fully operational by the end of the year, while its 102-megawatt-direct-current (MWdc) Jinbi solar phase 1 is targeted for completion by late 2028.

ACEN India’s generation stood at 476 GWh, factoring in the recently commissioned 153-MW Maharashtra hybrid project. It is expected to complete four RE developments by end-2027, including the 350-MW Tejorupa solar, 120-MW Bijapur wind, 389-MW Sheo 1 hybrid, and 399-MW Sheo 2 hybrid projects.

Its attributable output in Mekong also increased 19 percent to 996 GWh, following the contribution of Monsoon wind in Laos and better solar resource conditions.

Indonesia saw marginal growth of six percent over the six-month period. ACEN expects the 40-MW Salak unit 7 expansion to become operational by next year. Other international markets saw a 69-percent spike in attributable output to 196 GWh.

As the company saw growing demand for indigenous renewables, ACEN Chief Financial Officer (CFO) Jonathan Beck said, “We intend to benefit from this growth while maintaining a prudent, financially disciplined path forward, including continued focus on cost management across all our businesses.” - Gabriell Christel Galang