ACEN extends P3-B loan to subsidiary for Quezon wind farm

RENEWABLE ENERGY developer ACEN Corp. said it extended a short-term loan of up to P3 billion to its subsidiary Giga Ace 6, Inc. to fund the development of the 344.5-megawatt (MW) Quezon North Wind Power Project.

In a stock exchange disclosure on Tuesday, the company said it executed a short-term loan agreement with the unit, which serves as the project company for the wind farm.

The project, located in the municipalities of Real and Mauban in Quezon province, represents the first phase of a larger wind development targeted for completion by 2027. A second phase with a capacity of 208 MW is also underway.

ACEN had earlier extended P900 million to Giga Ace 6 in October 2025 to support the project’s development.

The Quezon wind farm is among the projects ACEN aims to complete next year, alongside other renewable energy developments, including the third phase of its solar farm in San Marcelino, Zambales.

The company has earmarked around P80 billion in capital expenditures to fund its major renewable energy projects in the Philippines.

In 2025, ACEN reported a net income of P3.8 billion, down 60% from the previous year due to weaker electricity prices, lower solar irradiation in key sites, and reduced generation from offline wind assets in Northern Luzon.

“As we scale, execution becomes even more critical. Our ability to deliver projects reliably — on time, on budget, and safely — will define the strength and sustainability of our growth,” ACEN President and Chief Executive Officer Eric T. Francia said during a recent annual stockholders’ meeting.

ACEN currently has about 7 gigawatts of attributable renewable energy capacity across operational, under-construction, and committed projects, with a presence in the Philippines, Australia, Vietnam, India, Indonesia, Laos, and the United States. — Sheldeen Joy Talavera