ACEN Corp., the listed energy platform of the Ayala Group, said its net income surged by 411 percent year-on-year to P3.9 billion in the first half, driven by a 21-percent rise in renewable energy (RE) generation to 4,024 gigawatt hours (GWh).
The company’s attributable renewables portfolio expanded to 7,517 megawatts (MW), with 57 percent of the portfolio now operational, alongside a 40-percent increase in its
earnings before interest, taxes, depreciation, and amortization (EBITDA) to P14.7 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.
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,’ said ACEN President Eric Francia.
In the Philippines, the company’s RE portfolio generated 1,091 GWh, representing a 17-percent increase year-on-year, due to the improved availability of its Pagudpud and Capa 2 wind assets in Ilocos Norte.
Revenues jumped by 41 percent year-on-year to P23.6 billion while its attributable EBITDA climbed by 48 percent to P6.6 billion. Results were bolstered by higher contracted energy sales, driven by the sustained expansion of the retail electricity supply business (ACEN RES)-which grew its portfolio to 587 MW, an increase of nearly 22 percent from end-2025-and the full effectivity of the company’s 160-MW Meralco mid-merit contract.
In Australia, attributable revenues and EBITDA soared by 59 percent and 35 percent, to P2.2 billion and P1.2 billion, respectively. These were driven by the full operational contributions from Stubbo Solar and reduced grid curtailment at New England Solar (NES) 1.
Work continued to progress on the 200 MW/400 MWh New England Solar Battery Energy Storage System (NE BESS), which is set for full operationalization by the end of the year, while the 102-MWdc Jinbi Solar Phase 1 also broke ground during the period and is expected to be completed in late 2028.
ACEN Australia delivered 862 GWh during the period.
In India, attributable output remained stable at 476 GWh, reflecting contributions from the commissioning of the 153 MW Maharashtra hybrid project. Amid stable generation, attributable EBITDA rose 31 percent to P764.4 million on the back of lower operating costs.
Other projects under construction are the 350 MW Tejorupa Solar, 120 MW Bijapur Wind, 389 MW Sheo 1 Hybrid, and 399 MW Sheo 2 Hybrid projects.
ACEN’s Mekong operations delivered 996 GWh of attributable output, brought about by the first full half-year contribution of Monsoon Wind in Lao PDR and improved solar resource conditions. This translated to a 35 percent increase in attributable EBITDA to P4.2 billion.
Attributable output from the rest of ACEN’s international markets reached 196 GWh in the first half.
In Indonesia, generation from the Salak and Darajat Geothermal plant grew 6 percent year-on-year, while the 40 MW Salak Unit 7 expansion reached 67 percent completion and is expected to be operational in 2027.
‘The growing global emphasis on indigenous renewable energy presents significant opportunities for ACEN. 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,’ said Jonathan Back, ACEN chief financial officer and chief strategy officer.