ACEN plans ₱30B stock rights offering for renewables

ACEN Corp., Ayala Corp.'s renewable energy unit, plans to raise up to ₱30 billion through a stock rights offering (SRO) to fund its renewable projects and pay off debt.

The SRO will issue primary common shares at a minimum indicative price of P2.30 per share, with the goal of completing the issuance by September 2025.

ACEN's principal shareholders have indicated support for the SRO and plan to subscribe to their pro-rata shares subject to final terms.

Recent developments include projects in Laos and India, as well as several upcoming Philippine projects such as Pagudpud wind (160 MW), Capa Wind (57 MW), and Pangasinan solar (60 MW).

ACEN's chairman highlighted momentum in key markets like the Philippines, Australia, and India, with 1.2 gigawatts of renewable energy projects expected to reach financial close within 12 to 18 months.