ACEN, the Ayala Group’s listed energy platform, today announced its financial and operating results for the full year 2025. While consolidated net income faced pressure from external market factors, the company achieved a significant 24% increase in renewable energy output and maintained a resilient core performance.
ACEN reported a consolidated net income of ₱3.8 billion for 2025. This figure was impacted by softer spot market prices in the Philippines and Australia, lower solar irradiation, and a ₱2.5 billion (USD 50.2 million) net one-off impairment related to assets in Vietnam.
However, the company’s underlying business remains robust:
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Recurring Net Income: Rose 4% to ₱6.3 billion, excluding one-off items.
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Core Attributable EBITDA (CAE): Increased 17% to ₱22.5 billion, driven by fresh contributions from new international operating plants.
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Total Assets: Grew 10% to ₱361.8 billion, reflecting continued aggressive investment in the renewable energy transition.
Total attributable renewable energy output reached 7,009 GWh, a 24% year-on-year increase. This growth was largely powered by the successful integration of new assets:
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International Markets: Generation surged 34% to 5,143 GWh. In Australia, the 520 MW Stubbo Solar project helped drive an 84% increase in local output. In the Mekong region, the commencement of Monsoon Wind in Lao PDR contributed to a 29% rise in generation.
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Philippines: Output remained steady at 1,866 GWh. Notably, the ACEN Renewable Energy Solutions (ACEN RES) retail arm now commands a 57% market share of the Green Energy Option Program (GEOP), adding high-profile clients like San Beda College Alabang and Eastwood Excelsior.
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Strategic Consolidation: In early 2026, ACEN achieved full ownership of the ACEN-UPC Renewables joint venture, adding over 1,000 MW of operating and under-construction assets to its direct portfolio.
ACEN continues to lead in Environmental, Social, and Governance (ESG) standards:
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Circular Economy: Stubbo Solar became the first large-scale RE project to receive a “Solar Circularity” certification, ensuring nearly one million panels will be recycled at the end of their lifecycle.
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Social Development: The company’s “High Tech High Touch” digital learning program in Zambales resulted in math scores doubling for students in Grades 4 to 6 within just 12 weeks. “ACEN faced numerous macro and sectoral headwinds in 2025, reflecting the complexities of today’s energy landscape,” said Eric Francia, ACEN President and CEO. “Despite these challenges, our core business remains resilient. We will continue to prioritize increasing our contracted capacity and accelerating investments in energy storage.” Jonathan Back, ACEN Group CFO and Chief Strategy Officer, added: “Our focus in 2026 remains on precise execution—operational efficiency, balance sheet strength, and project delivery. This disciplined approach will help us navigate market uncertainties while sustaining our long-term growth trajectory.”
