The company’s attributable renewable energy generation jumped 31 percent, solidifying ACEN’s strong net seller position in the Philippines’ Wholesale Electricity Spot Market.
Newly operational plants played a key role, boosting output and helping ACEN Renewable Energy Solutions expand its retail customer base.
Core attributable Ebitda grew 30 percent to P14.3 billion, excluding any one-time gains.
ACEN also reported a P1-billion gain in the third quarter from acquiring shares in Ayala Land’s REIT in exchange for a 276-hectare property in Zambales.
Management’s view
“ACEN’s renewable capacity has grown to almost 7 GW [gigawatts], in line with the strong momentum behind the energy transition in the region,” Eric Francia, ACEN president and CEO, said in a statement.
“The company continues to focus on execution, especially for projects in construction and under development,” he added.
