0 Comments
Ayala-led ACEN Corp. has approved a ₱30-million short-term loan for its subsidiary, Pagudpud Wind Power Corp., (PWPC) to support a large-scale wind farm in Ilocos Norte.
In a regulatory filing, the energy company stated, “The advances to be made to ACEN are part of the ACEN Group’s cash management optimization.”
(Also read: How a Hedcor Scholar Became a Doctor)
New wind project in Ilocos Norte
ACEN’s subsidiary PWPC led the Pagudpud Wind project, which gained long-term market access via the government’s 2022 green energy auction. The initiative targets a total installed capacity of 160 megawatts (MW).
With 32 wind turbines, each generating 5 MW of renewable energy (RE), the project can supply electricity to over 123,000 households while cutting approximately 340,000 metric tons of carbon emissions per year.
The first phase wrapped up in 2023, while the second is on track for completion by December 2025.
As ACEN’s third wind investment in Ilocos Norte, the ₱11.8-billion project joins the 52-MW North Wind Power in Bangui and the 81-MW North Luzon Renewables in Pagudpud.
(Also read: SNAP Begins Work on First BESS in Cordilleras)
Enhancing its RE portfolio
Chairman Jaime Augusto Zobel de Ayala of Ayala Corp. previously stated that the Pagudpud Wind Farm may help address the increasing energy needs in the Luzon power network.
He shared, “This facility is part and parcel of ACEN and Ayala’s commitment to help build a modern and sustainable Philippine economy through the best technologies that the world has to offer.”
Last February, ACEN announced it had increased its stake in Belenos Energy Corporation to strengthen its renewable energy portfolio. Belenos, a subsidiary of ACEN, manages investments in acquired companies like YMP Telecom Power and YMP Industrial Power, which provide solar solutions for telecom towers and industrial sites.
ACEN disclosed it signed a ₱392-million subscription agreement to acquire 392 million preferred shares in Belenos, supporting future renewable energy projects. This marks ACEN’s third investment in Belenos, following ₱50 million in October and ₱81 million in August 2024.
For this year, ACEN has allocated ₱70 billion in capital expenditure to drive its growth and expand its renewable energy portfolio.
In the global scene, ACEN has launched the initial phase of a combined solar and wind project in Dharashiv, Southern Maharashtra, India. Covering around 500 acres, the project boasts a 153-megawatt direct current (MWdc) capacity.
The company now holds a 6.8-gigawatt generation portfolio worldwide, comprising active assets, projects under development, and committed ventures.
Sources:
https://www.philstar.com/business/2025/02/01/2418265/acen-extends-p30-million-wind-subsidiary
https://powerphilippines.com/acen-inks-php-30m-loan-agreement-with-pagudpud-wind/
https://mb.com.ph/2025/2/4/acen-raises-stake-in-belenos-for-potential-re-project