ACEN infuses P1B into landholding unit for RE expansion

AYALA-LED ACEN CORP. is injecting P1 billion into a wholly owned subsidiary tasked with acquiring and holding land for renewable energy (RE) projects, as the company advances its expansion pipeline in the Philippines.

In a regulatory filing on Thursday, ACEN said it signed a subscription agreement with Buendia Christiana Holdings Corp. (BCHC) for the purchase of one million common shares and nine million Redeemable Preferred Shares A, both priced at P100 per share.

The subscription represents a total investment of P1 billion and will be issued from BCHC’s proposed increase in authorized capital stock, which remains subject to approval by the Securities and Exchange Commission (SEC).

ACEN said the shares to be subscribed represent 17% of BCHC following the capital increase.

BCHC serves as a special purpose vehicle established to acquire and hold land intended for ACEN’s renewable energy development projects.

The capital infusion comes as ACEN continues to expand its renewable energy portfolio both in the Philippines and overseas.

The listed energy company currently has 1,495 megawatts (MW) of attributable renewable energy capacity from operational and under-construction projects in the Philippines.

Across its markets, ACEN has approximately 7,000 MW of attributable renewable energy capacity spanning the Philippines, Australia, Vietnam, India, Indonesia, Laos, and the United States.

For 2026, ACEN has earmarked about P80 billion in capital expenditures, primarily to fund the development of major renewable energy projects in the Philippines as it pursues its long-term clean energy growth strategy.

The company has been actively expanding its solar, wind, and other renewable energy assets as part of efforts to support the country’s energy transition and growing power demand.

Shares in ACEN rose by two centavos, or 0.65%, to close at P3.12 apiece on Thursday. — Sheldeen Joy Talavera