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ACEN Corp. is committing up to ₱9.24 billion in financing to two wholly owned subsidiaries developing a large-scale battery energy storage system and a solar project in Zambales, strengthening the Ayala-led renewable energy company’s push to expand its clean power portfolio.
The company said it entered into separate loan agreements with SanMar Solar Inc. and GIGA ACE 8 Inc. to support the construction of energy infrastructure in San Marcelino and Palauig.
The financing comes as ACEN expands its renewable energy capacity in the Philippines and across the region, while the government moves to encourage greater integration of energy storage into variable renewable power projects.
Integration To San Marcelino Solar Plant
Under the first agreement, ACEN extended a loan facility of up to ₱6 billion to SanMar Solar for the development of a 500-megawatt (MW), 1,000-megawatt-hour (MWh) battery energy storage system in Barangay Santa Fe, San Marcelino, Zambales.
The BESS will be integrated with SanMar Solar’s existing solar power plant, forming what ACEN described as an Integrated Renewable Energy and Storage System.
The combined facility is designed to improve the flexibility of solar generation by storing electricity produced when demand is low and releasing it when demand rises.
The Department of Energy has earlier issued an order requiring developers of solar and wind projects to equip their facilities with energy storage systems. The technology is expected to help address the intermittent nature of renewable generation and provide additional support to the power grid during periods of high demand.
Fresh Financing
ACEN also provided GIGA ACE 8 with a short-term loan facility of up to ₱3.24 billion to finance the development of the 300-MW direct current Palauig 2 Solar Project in Palauig, Zambales.
The proceeds will also fund the construction of transmission line and substation facilities needed to connect the project to the power grid. The solar development will span Barangays Salaza and Bulawen.
The Palauig 2 project is estimated to cost about ₱16 billion, including the construction of a 1,200-MW transmission facility. ACEN had earlier injected around ₱1.15 billion into GIGA ACE 8 in June to help finance the project.
Once operational, Palauig 2 is expected to generate more than 450 gigawatt-hours of clean electricity annually. Together with the existing Palauig Solar 1, which has an annual output of about 90 GWh, the projects are projected to provide enough electricity to serve roughly 139,000 households.
Growth Strategy
The latest financing commitments form part of ACEN’s overall strategy to expand its renewable energy portfolio in the Philippines and other Asia-Pacific markets. The company has operations in India, Australia, Vietnam, Laos and Indonesia, and is targeting 20 gigawatts of renewable energy capacity by 2030.
The investments also come as ACEN continues to streamline its corporate structure. The company recently moved to dissolve 12 inactive subsidiaries and agreed to sell three other units—Vayu Energy, Zephyrus Energy and Oxylus Energy—to Yanara Philippines Corp., its joint venture with BrightNight APAC BV.
ACEN entered the latest projects from a position of stronger financial performance. In the first half of the year, its earnings surged 411 percent to ₱3.9 billion from ₱763 million a year earlier.
Revenues from electricity sales likewise increased to ₱22.51 billion from ₱15.3 billion in the same period, reflecting higher contributions from its expanding renewable energy portfolio.
With the Zambales projects, ACEN is simultaneously adding solar generation capacity and battery storage, underscoring the growing role of energy storage in supporting the reliability and wider deployment of renewable power in the country.
Source:
https://business.inquirer.net/609301/acen-lends-units-p9b-for-solar-farm-bess
https://mb.com.ph/2026/09/04/acen-pours-9-billion-into-major-zambales-solar-battery-projects