AC Energy Corp. (ACEN) is allocating P55 billion as capital expenditure budget for the expansion of its renewable energy business, its chairman said during the Ayala-led firm’s annual meeting on Monday. READ:
“We have earmarked P55 billion for our renewable energy expansion,” ACEN Chairman Fernando Zobel de Ayala told stockholders during the virtual event.
“Given our strong growth momentum, the company is beginning to look ahead to 2030, and we will soon firm up our 2030 vision and strategy,” he said, noting that the company’s 2030 vision will be unveiled later in the year. The company plans to continue building on three key strategies for its aggressive growth plans: expanding its geographic footprint, investing in new technologies, and forming strategic partnerships.
“These recent developments strengthen both ACEN’s organic development and operating capabilities and our partner network across the region,” Mr. Francia said. Within the region, ACEN has reached 1,000 MW of attributable capacity in Vietnam as it completed several wind farms with a combined 360 MW of attributable capacity, including the acquisition of a 49% stake in Super Energy’s 837-MW solar platform in Vietnam.
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