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ACEN Corporation, a key player in the Asia-Pacific renewable energy sector, is projecting significant income growth in 2026 and 2027, as major projects in its 7-gigawatt pipeline begin operations. The company’s positive outlook was shared by Chief Finance Officer and Chief Strategy Officer Jonathan Back during ACEN’s recent Annual Stockholders’ Meeting. Despite anticipating slower growth in 2025, ACEN expects earnings momentum to accelerate from 2026 onward, supported by full operations of projects such as the 600-MW Monsoon Wind Project in Laos and the 520-MW Stubbo Solar Farm in Australia. The Monsoon Wind Project is set to become Laos’ first wind farm and Southeast Asia’s first cross-border wind facility, supplying clean energy to Vietnam and powering nearly 300,000 households while cutting carbon emissions by over 823,000 metric tons annually. Back stated, “We expect to see robust growth from 2025 to 2027 due to strong visibility on our pipeline and the scale of new projects coming online.” In 2024, ACEN posted a 27% year-on-year increase in net income, reaching PHP 9.36 billion, backed by a 25% rise in renewable energy generation to 5,600 GWh, mainly from new capacity additions in the Philippines and Australia. However, 2025 is expected to see moderated growth as fewer projects will become operational during the year, with many contributing only by the fourth quarter. Additional upcoming developments include the 300-MW Palawig solar project and the 335-MW Quezon North wind farm in the Philippines, which are part of ACEN’s broader 7-GW attributable portfolio poised to support medium-term profitability. ACEN has revised its annual growth target to 15–20% over the next five years, slightly lower than the previous 20–25%, citing increased scale and global economic headwinds. To support its expansion goals, ACEN has approved a PHP 30-billion stock rights offering, priced at a floor of PHP 2.30 per share, set for completion by September 2025. According to President and CEO Eric Francia, proceeds will be allocated primarily to renewable energy projects, with debt reduction as a secondary use. In 2025, ACEN aims to commission approximately 800 MW of new capacity, particularly in Australia, India, and the Mekong region—representing over 20% growth in its operating portfolio. The company’s balance sheet remains resilient, with over PHP 25 billion in cash reserves and a net debt-to-equity ratio of 0.69, enabling it to weather industry challenges including transmission constraints and policy fluctuations. ACEN is also exploring energy storage technologies to bolster grid stability, underlining its long-term commitment to accelerating the global energy transition. |
