Gains were supported by the ramp-up of new renewable energy capacities, particularly solar and wind farms in the Philippines and Australia. This despite lower wind output in Vietnam and North Luzon.
Revenue for the quarter grew 8 percent to P9.9 billion while core attributable earnings before interest, taxes, depreciation, and amortization increased by 32 percent to P5.3 billion.
The increase in net income also included P389 million from the partial sale of a loan to the Mui Ne Wind project in Vietnam to Acciona Energia.
ACEN has achieved an attributable renewable capacity of 4.8 Gigawatts. Including its over 1 GW of signed agreements, the company has surpassed its 2025 target of 5 GW nearly two years ahead of schedule.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
