ACEN allots P60 billion capex for Philippines expansionACEN president and CEO Eric Francia said roughly 75 percent of the company’s planned capital expenditures of over P80 billion would be directed toward projects in the Philippines. MANILA, Philippines — Ayala-led ACEN Corp. is doubling down on the Philippine market, ramping up its capital spending to at least P60 billion this year to fund ongoing and planned domestic projects. “Over P60 billion will go to the Philippines alone,” Francia told reporters yesterday, noting that the funding will be used to complete ACEN’s solar, wind and battery energy storage projects. “We’ll be more than five GW operational by the end of this year, and we should be close to seven GW operational by next year,” Francia said. Revenues also contracted, ending 18 percent lower at P23 billion from P28 billion on softer electricity prices and reduced power generation output.
