ACEN extends P1-B loan for Quezon wind park

MANILA, Philippines — ACEN Corp. is infusing up to P1 billion in a subsidiary to support the construction of a 344.5-megawatt (MW) wind park in Quezon province.

In a regulatory filing, the listed renewable energy producer said it had executed a short-term loan deal with Giga Ace 6, Inc. for the development of the Quezon North Wind Power Project.

READ: ACEN H1 net income spikes to P3.9B

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This follows the P3 billion in fresh funds earlier extended to Giga Ace 6.

Giga Ace 6 leads the construction of the Quezon North Wind Power Project, which is envisioned to have a capacity of 553 megawatts (MW).

Phase 1 of the facility, targeted for completion by late 2026, has a generating capacity of 344.5 MW.

The second phase, meanwhile, will involve 208 MW and completion is expected by the end of 2027 or early 2028.

The project is located in the towns of Mauban and Real in Quezon as well as Paete and Kalayaan in Laguna.

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Last year, the subsidiary also obtained P34.4 billion from the Bank of the Philippine Islands, BDO Unibank Inc. and Rizal Commercial Banking Corp.

ACEN previously said that the project cost was estimated to reach P70 billion.

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The group set more than P80 billion in capital spending for 2026 as it hopes to hit 5,000 MW of operational capacity by yearend. The capital expenditure was higher than 2025’s P55 billion.

ACEN’s core market is the Philippines. It also has operations in Australia, Vietnam, Laos, Indonesia and India.

READ: ACEN sees 2026 a better year despite Middle East war

From January to June, the company said its consolidated profit had surged by 411 percent to P3.9 billion from P763 million a year ago on the back of robust generation growth and energy sales.

Its revenues from the sale of electricity also climbed to P22.51 billion from P15.3 billion in the same period last year.

“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,” said Eric Francia, ACEN president and CEO.

“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,” he said in a statement. INQ