This growth was driven by a 42 percent increase in renewable energy generation and a stronger position in the Philippine Wholesale Electricity Spot Market.
Core earnings before interest, taxes, depreciation, and amortization grew 21 percent to P10.1 billion, reflecting new capacity from renewable plants.
ACEN’s renewable capacity now stands at 4.8 gigawatts, with 69 percent of this capacity operational.
Management’s view
“We have strong momentum on the back of a robust increase in operating earnings and steady progress with our project pipeline,” Eric Francia, ACEN president and CEO.
“We have won several new projects that we expect to add to our capacity within the next six to twelve months. We remain on track with our goal of achieving 20 GW of renewables capacity by 2030,” he added.
