ACEN's P1.44B Investment Propels Clean Energy Advancements in the Philippines
Ayala-led ACEN Corp. is investing P1.44 billion in five of its units to accelerate the development of renewable energy projects in the Philippines.
The funding will be used for development activities relating to solar and wind projects, including AC Subic Solar Inc., AC Laguna Solar Inc., SolarAce4 Energy Corp., Ingrid2 Power Corp., and GigaWind1 Inc.
ACEN President and CEO John Eric Francia said the investment is part of the company's goal of achieving 20 gigawatts (GW) of attributable renewable energy capacity by 2030.
"This investment is a major milestone in our journey towards a cleaner energy future," Francia said. "It will help us accelerate the development of our renewable energy projects and bring us closer to our goal of 20 GW by 2030."
ACEN is one of the leading renewable energy developers in the Philippines. It has a portfolio of over 4 GW of renewable energy projects, including solar, wind, and hydro.
The company's investment in renewable energy is aligned with the Philippine government's goal of achieving 35% renewable energy mix by 2030.
The government has set a number of policies to promote the development of renewable energy, including feed-in-tariffs and tax breaks.
ACEN is well-positioned to benefit from the government's renewable energy policies. The company has a strong track record of developing and operating renewable energy projects.
The investment in five units is a significant step forward for ACEN in its journey towards a cleaner energy future. The company is committed to providing affordable, reliable, and sustainable energy to the Philippines.
ACEN's investment in clean energy is a positive step for the Philippines. It will help to reduce the country's reliance on fossil fuels, mitigate climate change, and create jobs.