Category: Business Mirror

Senate Minority Leader Alan Peter Cayetano on Thursday urged churches to lead the country’s ‘revival’ amid a deepening corruption crisis, and wants faith leaders included in the Independent Committee on Infrastructure (ICI).

In a statement, Senate Minority Leader Alan Peter Cayetano called on churches to take a more active role in shaping the nation’s future, saying they should ‘penetrate all spheres of influence’ and help lead the Philippines toward moral revival amid massive corruption.

Moreover, Cayetano made the call as he co-sponsored a Senate resolution congratulating the Jesus Is Lord (JIL) Church Worldwide on its 47th founding anniversary, highlighting the crucial role of churches in guiding society beyond the spiritual sphere.

‘Where the church is, there the country will go,’ Cayetano, who is also a devout Christian, emphasized.

‘We ask them to intercede for our nation and penetrate all spheres of influence-business, schools, hospitals-because the country needs prayers, hope, but also leadership,’ he added.

The senator said faith-based institutions should go beyond offering prayers and actively participate in national reform efforts, including the fight against corruption.

‘We are encouraging all churches to be part of the disruption that is happening in our country. Not the disruption that is now full of confusion, anger, and fear, but hopefully the disruption that will lead us to a true revival,’ he said.

The minority leader also suggested that religious leaders be included in the ICI to strengthen the body’s credibility and moral foundation.

‘I think that’s what is lacking in the Independent Commission [for Infrastructure]. Why were religious leaders not designated there?’ he asked, partly in Filipino.

‘Truly, our country needs not only the prayers, the hope, but also the leadership,’ he added.

At the start of the plenary session, Cayetano prayed for a ‘revival’ in the hearts of Filipinos and in all sectors of society, from government to business institutions, plagued by dishonesty and corruption.

‘What we ask you, Lord, for is a revival. First, the revival of the heart of every Filipino, that he will look at you for hope. Second is the revival of communities, revival of faith in government, revival of integrity and honesty. May we look at the devil and tell him to get behind us because these are all lies,’ he prayed.

AFTER surveying first hand the devastation caused by the magnitude 6.9-earthquake in Cebu on Thursday, President Marcos announced an initial P580 million worth of financial assistance for the island province.

The Chief Executive visited Bogo City, Cebu, which was close to the epicenter of the earthquake, which killed 72 people and left many parts of the city in ruins, when it struck on Monday night.

‘The biggest damage that the earthquake caused was damage to infrastructure, buildings, and then things like the hospital. Look at this city hall. That’s exactly the effect,’ he said in Filipino in his speech outside the Bogo City Hall.

With the assessment on structural integrity of the many buildings in the city still ongoing, many residents of the city will be forced to temporarily live in tent cities.

‘We’re just hurrying [establishing the tent city]. so they can find shelter here. Because many, rightly so, are afraid to go back to the building. They’d rather be outside,’ Marcos added.

He assured that the tent city will have sufficient food, water, and electricity supply as well as sanitation facilities.

As of Thursday morning, the Department of Energy (DOE) was working to restore power in Bogo City.

Those whose houses were destroyed by the earthquake will get P10,000 cash assistance, Marcos said.

The Office of Civil Defense (OCD) reported the earthquake in Cebu has affected 170,959 people and left 501 houses partially damaged and 96, which were totally damaged.

Financial support

TO help the provincial government of Cebu, which has declared a state of calamity, to manage the pressing concerns in its quake-affected areas, the President said the national government will provide it with financial support.

He said the Office of the President (OP) will release P180 million for its quake assistance, of which, P50 million will go to the Cebu provincial government and P20 million to Bogo City.

The remaining amount will be distributed to the following municipalities: Bantayan (P10 million); Daanbantayan (P10 million); Madridejos (P10 million); Medellin (P10 million); San Remigio (P20 million);Santa Fe (P10 million); Sogod (P20 million); Tabogon (P10 million); and Tabuelan (P10 million).

The provincial government of Cebu said the President also announced each of the local government unit-run hospitals will receive P5 million each and P20 million for a Department of Health-owned hospital in the province.

Marcos said the Department of Public Works and Highways (DPWH) has deployed engineers to check on the status of the hospitals to determine if they can still accommodate patients after the recent earthquake.

The President also announced that the Department of Budget and Management (DBM) will release P375 Local Government Support Fund (LGSF). Cebu will get the bulk of the fund with P150 million while the towns of San Remigio and Medellin as well as Bogo City, will each receive P75 million.

The national government, Marcos said, will continue to extend aid to help in the ongoing rehabilitation efforts in the quake-hit areas.

‘We will continue to monitor. We will continue to coordinate with the leaders-the local leadership to make sure that our rehabilitation and all the support we provide are going well,’ Marcos said.

Full arsenal

THE Department of Social Welfare and Development (DSWD) has mobilized its ‘full arsenal’ of disaster relief to assist families affected by the 6.9-magnitude earthquake that struck Cebu on Tuesday night.

Assistant Secretary Leo Quintilla, concurrent Officer-In-Charge of the DSWD’s National Resource and Logistics Management Bureau (NRLMB), said the agency is providing food, water, shelter, and psychosocial support while preparing early recovery interventions, including the Emergency Cash Transfer (ECT) program.

As of the latest report, at least 4,000 families-approximately 20,000 individuals-remain displaced outside evacuation centers due to ongoing aftershocks.

‘We have deployed the full arsenal of the DSWD for the 6.9-magnitude earthquake. We are utilizing all available resources to both mitigate its effects and respond to the needs in the affected areas,’ he said.

The relief operations follow the President’s directive to immediately reach out to affected families and ensure the delivery of adequate assistance.

Immediately after the earthquake, Quintilla said the DSWD partnered with the Philippine Coast Guard to deliver ready-to-eat meals to Bogo City, one of the hardest-hit areas in Northern Cebu, despite uncertain road access. The department also deployed mobile command centers, water filtration trucks, water tankers, mobile kitchens, and food packs.

‘Our trucks are already on-site, including water trucks with filtration machines to ensure the availability of water, as the earthquake also affected the local water systems. Our water filtration kits are there, along with food packs and ready-to-eat meals [Rtef],’ Quintilla added.

The DSWD has initially released 6,800 family food packs (FFPs) and 2,000 ready-to-eat meals, with numbers expected to rise as operations continue. Cebu’s Visayas Disaster Resource Center is producing thousands of additional FFPs, ensuring an adequate supply for the entire province. Nationwide, the Department maintains 2.3 million prepositioned FFPs across hubs and distribution points.

Beyond immediate relief, the DSWD official also said that it is providing psychosocial support services to help survivors cope with trauma. Neighboring field offices have deployed social workers to assist families in evacuation centers.

Burial assistance will also be extended to families of earthquake fatalities. Early recovery efforts include the rollout of the ECT program, which provides flexible financial aid for essentials such as food and home repairs.

‘Aside from immediate response, we are preparing for the ECT, which allows families to use the cash for urgent needs like rebuilding shelters or buying food,’ Quintilla explained.

Disaster Tech Lab, a global nonprofit providing communications and disaster response support, confirmed today that it is mobilizing a combined communications and medical response team to Cebu following the 6.9-magnitude earthquake that struck the island on September 30.

The deployment follows ongoing contact with local partners in Arapal, Northern Cebu, where the organization has previously worked.

The quake severely impacted communities across Cebu, triggering at least 349 aftershocks ranging from magnitude 1.4 to 4.8 and causing widespread disruption to essential services. Cellular networks and internet access were compromised in many areas, limiting the ability of residents to reach help and hindering coordination among responders.

To address this gap, Disaster Tech Lab is sending a field team to deploy and operate resilient communication systems. Their goal is to restore connectivity where it is needed most, enabling disaster response agencies, first responders, and local communities to coordinate rescue, medical aid, logistics, and recovery operations.

Communication is a lifeline during calamities. When networks fail, responders lose the ability to track relief convoys, direct ambulances, and share information about safe zones or shelter availability. Families cannot contact missing loved ones. Local governments struggle to receive accurate damage reports. Each delay costs time, and in a disaster zone, time can mean the difference between rescue and loss. By restoring communications, Disaster Tech Lab ensures that information flows where it matters most: from the field to decision-makers and from communities to aid providers.

Alongside this, Disaster Tech Lab’s medical team will operate pop-up clinics in Arapal and nearby towns. Staffed by EMTs, paramedics, registered nurses, and licensed doctors, the clinics will provide urgent care, triage, and treatment for injuries and health concerns, ensuring vulnerable populations have timely access to lifesaving care during the relief effort.

This mission also marks a new chapter for the organization. In September 2025, Disaster Tech Lab secured 501(c)(3) nonprofit status in the United States, expanding its operational reach and making it easier for donors to support its work. The Cebu mission demonstrates this new capacity by combining advanced communications support with frontline medical care.

‘Our mission is to provide critical communications and medical support where it is needed most,’ said Evert Bopp, CEO of Disaster Tech Lab. ‘By combining internet access with frontline medical care, we can remove barriers to aid and ensure communities in Cebu receive both lifesaving treatment and the ability to stay connected during this crisis’.

Disaster Tech Lab has supported humanitarian and disaster relief operations worldwide, including post-hurricane recovery in New York, earthquake response in Haiti, flooding in Peru, typhoon relief in the Philippines, and medical network support during the Ebola outbreak in Liberia.

Disaster Tech Lab is not new to the Philippines. In past calamities, it collaborated with Handang Tumulong Foundation Inc. (HTFI), a Filipino nonprofit based in New York that has long supported disaster relief through partners such as Caritas Manila, GMA Kapuso Foundation, Rotary Clubs, Jesuit foundations, and parish networks.

Residents of Cebu continue to endure aftershocks. Families report children unable to sleep at night. Farmers face irrigation and livestock losses. Students remain displaced from classrooms. Evacuation centers are overcrowded and water supplies are stretched thin.

The restoration of communications is expected to accelerate relief delivery and improve coordination among agencies. Long-term recovery, however, will require sustained support from government institutions, international donors, and diaspora groups working in partnership with organizations like Disaster Tech Lab and HTFI.

Donations to support the Cebu 2025 response can be made directly through Disaster Tech Lab’s official site. Contributions fund satellite equipment, medical supplies, logistics, and field operations. Secure links are available here: https://disastertechlab.org/cebu2025/ and https://disastertechlab.org/donate-now/.

Disaster Tech Lab is a nonprofit organization founded in 2010 to bridge the critical gap when communication systems fail during disasters. The organization deploys worldwide to restore internet, phone, and Wi-Fi in crisis zones, ensuring survivors stay connected and responders can coordinate relief. Beyond restoring networks, it trains local volunteers to maintain and use the technology, building resilience and self-sufficiency in vulnerable communities. Its rapid-response teams are equipped to assess needs, set up communications, and support medical and logistical operations. Disaster Tech Lab relies on volunteers and donors to sustain its mission.

Editor’s Note: The information in this release is based on the official announcement from Disaster Tech Lab (October 2, 2025) and publicly available records of Handang Tumulong Foundation Inc.’s past disaster relief activities. Operational details, deployment progress, and donation impact are reported as provided by the organizations.

TIM CONE will be working with a pool of 16 players-instead of 12-for the 2027 International Basketball Federation (FIBA) World Cup Asian Qualifiers that start this November.

‘The [16-member] pool gives Coach Tim [Cone] a buffer for any.but hopefully not injuries to our players,’ Samahand Basketbol ng Pilipinas president Al S. Panlilio said on Thursday.

Three players-who Panlilio and Cone called ‘logical adds’-are RJ Abarrientos, 6-foot-11 Ange Kouame and Quentin Millora-Brown with Kai Sotto being the pool’s 16th member but is still recovering from his injury.

Abarrientos, according to Panlilio who’s known by his alias ASP, is not a surprise addition because he’s been practicing with Gilas and is Cone’s point guard at Barangay Ginebra San Miguel.

Millora-Brown, or QMB, Panlilio said, is also a welcome addition to the pool, while Kouame is an able backup to Justin Brownlee as a naturalized player.

‘We know that the Asian qualifiers are a tough competition,’ Panlilio said.

‘QMB’s a no-brainer, of course. And RJ and Kouame have been practicing with us since the last window. So, they are all ‘logical adds,” Cone said.

There are four groups in the Asian Qualifiers-the Philippines is with Guam, Australia and New Zealand in Pool A-and the top three will be advancing further in the event.

With Brownlee in the pool are AJ Edu, June Mar Fajardo, Kevin Quiambao, Scottie Thompson, Jamie Malonzo, Chris Newsome, Calvin Oftana, CJ Perez, Dwight Ramos and Carl Tamayo.

Millora-Brown is a 6-foot-10 former University of the Philippines big man who’s playing for the Macau Black Bears in the East Asia Super League.

Kouame was in Cone’s team that won the gold medal in the Hangzhou 19th Asian Games two years ago.

Gilas travels to Guam on November 28 and will host the same team on December 1 and plays at home against New Zealand on February 26 and Australia on March 1.

Ayala Corp. on Thursday said it will transfer its dealership of Honda cars in the Philippines to a new entity in January 2026, effectively ending its 35-year partnership with Honda Car Philippines Inc. (HCPI).

HCPI and Ayala said the development reflects the ‘evolving strategies’ of their companies in their pursuit of growth and innovation.

The transition involves dealerships currently under the operation of ACMobility. These are Honda Cars Makati, Honda Cars Pasig, Honda Cars Shaw, Honda Cars Bacoor, Honda Cars Cebu, Honda Cars Mandaue, Honda Cars Iloilo, Honda Cars Negros, and Honda Cars Cagayan de Oro.

The alliance dates back to 1990 with the opening of Honda Cars Makati. Over the years, the network grew steadily nationwide, with Ayala ultimately becoming the largest Honda dealer group in the Philippines.

The ACMobility-operated Honda dealerships, through Iconic Dealership Inc., have sold over 220,000 vehicles as of August 2025.

ACMobility will begin turning over management and operations of these dealerships to new dealer principals towards the end of this year. It declined to name the new owner of its Honda dealership.

‘We thank Ayala for their invaluable contribution over the past 35 years, which played a key role in establishing Honda as a trusted brand in the Philippines. As we work closely with our new dealer principals, we are fully committed to ensuring a seamless transition while upholding Honda’s legacy of excellence, innovation, and outstanding customer service,’ Rie Miyake, Honda Philippines president, said.

‘HCPI will continue to provide the best products and services including an expanding range of electrified vehicles and solutions. We remain firmly committed to Honda’s long-term goals of zero collision and carbon neutrality, advancing safety for everyone and a cleaner environment in the Philippines,’ Miyake said.

‘We are grateful, and indeed proud, to have been part of Honda’s journey in the Philippines for the past three and a half decades. This transition reflects our ongoing effort to optimize our portfolio and focus on new growth areas. Among these are our initiatives in advancing sustainable mobility and electrification, where we continue to build solutions that benefit communities, businesses and the environment,’ Jaime Alfonso Zobel de Ayala, CEO of ACMobility, said.

ACMobility said it will refocus its investments in new and high-growth businesses in automotive distribution and charging infrastructure, in light of its ambition to lead the transition towards sustainable and electrified mobility in the Philippines.

This also follows ACMobility’s recent exits from the Volkswagen and Maxus distribution businesses, as the company moves towards streamlining its portfolio, aligned with the broader initiative of Ayala to sharpen its business lines.

Upon turnover of the dealership operations, ACMobility’s portfolio will be composed of the BYD and Kia distribution businesses; dealership operations of Isuzu, BYD, and Kia; electric vehicle charging infrastructure business; and the Bosch Car Service business.

The state weather bureau has placed 50 cities and municipalities in 6 Luzon provinces under the threat of Tropical Cyclone Wind Signal (TWSC) No. 2 as ‘Paolo’ intensifies while hovering over the Philippine Sea.

Placed under TCWS No. 2 are the central and southern portions of Isabela (San Mariano, Dinapigue, San Guillermo, Echague, Jones, San Agustin, Benito Soliven, Angadanan, Naguilian, Palanan, Ilagan City, Quirino, Mallig, Quezon, Delfin Albano, Tumauini, Cordon, City of Santiago, San Isidro, Ramon, Alicia, San Mateo, Cabatuan, City of Cauayan, Reina Mercedes, Luna, Gamu, Burgos, San Manuel, Aurora, Roxas), the northern portion of Quirino (Maddela, Aglipay, Cabarroguis, Saguday, Diffun), the northern portion of Nueva Vizcaya (Diadi, Bagabag, Quezon, Solano, Villaverde, Ambaguio, Bayombong, Kasibu), the eastern portion of Mountain Province (Paracelis, Natonin, Barlig), Ifugao, and the northern portion of Aurora (Dilasag, Casiguran, Dinalungan).

Meanwhile, TCWS No. 1 is hoisted over Cagayan, the rest of Isabela, the rest of Quirino, the rest of Nueva Vizcaya, Apayao, Abra, Kalinga, the rest of Mountain Province, Benguet, Ilocos Norte, Ilocos Sur, La Union, Pangasinan, the northern portion of Zambales (Palauig, Masinloc, Candelaria, Santa Cruz), Tarlac, Nueva Ecija, the rest of Aurora, the northern portion of Bulacan (Doña Remedios Trinidad, San Miguel, San Ildefonso, Norzagaray, San Rafael), the northern portion of Pampanga (Magalang, Arayat, Candaba, Mabalacat City), the northern portion of Quezon (General Nakar, Infanta) including Polillo Islands, Camarines Norte, the northern portion of Camarines Sur (Siruma, Tinambac, Lagonoy, Garchitorena, Caramoan, Goa, San Jose, Presentacion), and Catanduanes.

In its Tropical Cyclone Bulletin issued at 2 p.m., the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) said Paolo maintains its strength while moving westward over the Philippine Sea.

PAGASA said aside from hazards affecting land areas due to the strong winds brought by Paolo, heavy rain is expected to affect Aurora today, October 2, and the provinces of La Union and Benguet on Friday. Heavy rains mean that rainfall will be dumping at least 200 mm of rain, causing widespread incidents of severe flooding and landslides.

In the next two days, 100 to 200 mm of rain is forecasted over Cagayan, Isabela, Quirino, Nueva Vizcaya, and Nueva Ecija, Aurora, Isabela, Quirino, Nueva Vizcaya, Abra, Kalinga, Mountain Province, Ifugao, Pangasinan, Ilocos Sur, and Zambales.

This means that numerous flooding events are likely, especially in areas that are urbanized, low-lying, or near rivers. Landslide is likely in moderate to highly susceptible areas, PAGASA said.

Meanwhile, 50 to 100 mm of rain is forecasted to occur in Apayao, Kalinga, Mountain Province, Ifugao, Benguet, Pangasinan, Tarlac, Pampanga, Bulacan, Rizal, Quezon, Camarines Norte, Camarines Sur, Catanduanes, Albay, and Sorsogon Cagayan, Apayao, Ilocos Norte, Nueva Ecija, Tarlac, Bataan, Pampanga, and Bulacan

These areas are likely to experience localized flooding, mainly in areas that are urbanized, low-lying, or near rivers. Landslides is also possible in highly susceptible areas.

PAGASA said the highest Wind Signal that will likely be hoisted throughout Paolo’s passage is Wind Signal No. 3, or worse, Wind Signal No. 4, which is not being completely ruled out.

The state weather bureau said heavy rainfall, severe winds, and storm surge may still be experienced in localities outside the landfall.

Paolo will continue to intensify over the Philippine Sea and may reach severe tropical storm category tonight.

Currently, the eye of the storm was spotted 530 km. East of Infanta, Quezon, and is moving westward at 20 km/h.

It is currently packing maximum sustained winds of 75 km/h near the center and gustiness of up to 90 km/h.

The storm is expected to leave the Philippine Area of Responsibility (PAR) by 11 a.m. of October 4..

Fortune Life Insurance Company, one of the Hole Sponsors, joined the Philippine Insurance Cup Golf Tournament on September 4, 2025 at the Riviera Golf Club in Silang, Cavite.

Organized by the Philippine Insurers and Reinsurers Association (PIRA), in partnership with the Insurance Institute for Asia and the Pacific (IIAP) and the Philippine Insurers Club (PIC), the event brought together industry leaders for a day of camaraderie and competition.

Representing Fortune Life was Business Development Director George Mercado, building connections and championing our commitment to meaningful partnerships and industry engagement.

Fortune Life is part of the ALC Group of Companies, founded by the late Amb. Antonio L. Cabangon Chua.

FOR the third time, Vice President Sara Z. Duterte on Thursday failed to appear at the plenary debates on the proposed P902.03-million budget of the Office of the Vice President (OVP) for 2026, instead setting two conditions before agreeing to face lawmakers.

Duterte named the two demands in a letter dated September 30, 2025, addressed to House Committee on Appropriations Chairperson Rep. Mikaela Suansing and read on the floor by Palawan 2nd District Rep. Jose Alvarez, sponsor of the OVP budget.

‘The House of Representatives demands the attendance of President Marcos for the 27.3-billion pesos budget deliberation of the Office of the President,’ Duterte demanded.

Duterte also demanded that the Committee on Good Government and Public Accountability produce a Department of Justice (DOJ) certification confirming the lifting of the Immigration Lookout Bulletin Order (ILBO) against seven OVP personnel, namely, Atty. Zuleika T. Lopez, Mr. Lemuel G. Ortonio, Atty. Rosnelne L. Sanchez, Atty. Francis Chanray A. Fajarda, Ms. Gina E. Austero, Ms. Julieta L. Villadiego, and Mr. Edward D. Fajarda.

‘Mr. Speaker, there is no one from the Office of the Vice President, and I am prepared to stand alone here and stand for the budget of the OVP,’ Alvarez said on the plenary floor, stressing that the committee had given Duterte’s office ‘utmost respect’ in the budget process. He added that the committee will no longer respond to Duterte’s letter, calling October 2 the ‘last day’ for deliberations.

Blatant insult

Opposition lawmakers did not hold back their criticism and vowed to push for the reduction of the OVP budget.

Rep. Leila de Lima of the Mamamayang Liberal Party List denounced Duterte’s repeated absences as a blatant insult to the constitutional budget process.

‘Disrespecting the budgetary process of this body is a clear case of disrespect of our Constitution,’ de Lima said. ‘If she can afford to show up at the Senate and applaud a privileged speech, why can she not spare a few moments to defend the budget of her office? Enough is enough. Enough of her brattiness.’

De Lima said she intends to move for a reduction of the OVP’s budget, sparing only funds for Personal Services (PS) and maintenance and operating expenses (MOOE) while scrapping allocations for operational programs.

ACT Teachers Rep. Antonio Tinio echoed the sentiment, stressing that the issue was not political grandstanding but accountability.

‘I condemn her disrespect toward the people for not even showing up to take responsibility,’ Tinio said, vowing to file a motion to slash the OVP’s budget and retain only the funds needed for employees’ salaries.

The PLDT Group said on Thursday it has identified nearly two million URLs containing online child sexual abuse and exploitation material (CSAEM) since June 2021, as PLDT and Smart’s Cyber Security Operations Group blocked more than 650,000 attempts to access such links in January to August.

‘Guided by our child safeguarding policy, we have adopted a child safety-by-design approach across our products and services,’ said Roby Alampay, FVP and Head of Public Engagement at PLDT and Smart.

‘Recognizing the scale of the problem, we continue to welcome collaboration with child safety advocates to help create a safer digital space where children can thrive.’

He noted that central to PLDT’s efforts is its Child Protection Platform, which blocks CSAEM at the content level.

Furthermore, the group’s partnerships with the UK-based Internet Watch Foundation and the Canadian Centre for Child Protection’s Project Arachnid have bolstered the company’s detection and blacklisting capabilities.

The group has likewise embedded its child-protection framework into community awareness campaigns. Through its program, PLDT and Smart have reached over 100,000 participants nationwide, including students, teachers, parents, barangay officials, MSMEs, farmers, seniors, persons with disabilities, and indigenous peoples.

Unicef noted that in 2021 alone, two million children in the Philippines were subjected to online sexual abuse and exploitation. Children reported that they experienced grooming and received offers of gifts or money in exchange for sexual acts.

‘Some were threatened or blackmailed to engage in sexual acts. Due to stigma, disclosure is disproportionately low-despite various reporting channels. Only 0-4 per cent of victims ever reported, and only 0-3 per cent know how to report to the police or to helplines.’

Unicef also noted 44 percent of children do not know where to get help if they or a friend were subjected to sexual abuse or harassment online; while 50 percent of them added people as friends on social media even if they had never met face-to-face.

ACEN Corp. is extending a loan of P900 million to its unit to partly finance its onshore wind power project in Quezon province.

‘On October 1, 2025, ACEN executed a short-term loan agreement for P900,000,000.00 with its wholly-owned subsidiary, Giga Ace 6, Inc.,’ it said in a disclosure to the stock exchange Thursday.

Giga Ace 6 is the project company for the Quezon North Wind Power Project, formerly the Isla Wind Project, to be located in the municipalities of Mauban and Real, Quezon, and the municipalities of Paete and Kalayaan, Laguna.

ACEN did not provide further details.

Giga Ace 6 earlier secured a P34.41-billion loan to partly finance the proposed wind power project which will be done in phases. The target completion of the first phase, with an estimated capacity of 344-megawatt peak (MWp), is in late 2026. The second phase, possibly 208 megawatts, could be finished by 2028.

ACEN disclosed in October last year its investment into the Quezon North Wind Power Project Phases 1 and 2, including supporting infrastructure and transmission/connection assets.

Last March, ACEN and units signed an omnibus loan and security agreement with Bank of the Philippines Islands, BDO Unibank, Inc., and Rizal Commercial Banking Corp. for P34.4 billion. The green term loan facility for Giga Ace 6 was guaranteed by its parent, ACEN, and ACEN Global Development Group. ACEN reported in August that its consolidated net income declined by 88 percent year-on-year to P763 million mainly due to a P2.7-billion impairment relating to the relating to the Lac Hoa and Hoa Dong wind farms in Vietnam.

Excluding this one-off booking and the P1.35-billion valuation gain in 2024, net income fell 24 percent over the same period, due to depressed Wholesale Electricity Spot Market prices and increased depreciation effects.

‘Despite these headwinds, attributable renewables output grew 9 percent year-on-year to 3,228 GWh [gigawatt hours], driven by new contributions from international plants.’