ACEN reports 27% net income growth, driven by renewable energy projects
Ayala-led ACEN Corp. reported a 27 percent increase in net income to ₱9.36 billion for the year ending December 2024, with revenues growing by 2.2% to P37.30 billion.
The rise was attributed to higher generation output from renewable energy (RE) projects, which increased by 25 percent to 5,596 gigawatt-hours (GWh), despite challenges like reduced wind generation in the fourth quarter due to Typhoon Marce.
ACEN's Philippine operations saw a significant increase of 60% in generation output to 1,826 GWh, while international operations grew by 13% to 3,770 GWh.
The company completed several RE projects and expanded its retail electricity arm ACEN Renewable Energy Solutions by 26%, reaching 374 megawatts across 554 customers from various sectors.
ACEN's president and CEO Eric Francia emphasized the company's commitment to scaling up renewables both locally and internationally, despite global challenges impacting the energy transition.
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