ACEN Corp., the energy arm of Ayala Corp., has extended a P900 million loan to its subsidiary, Giga Ace 6 Inc., to support the development of a major wind power project in Quezon and Laguna.
The short-term loan, executed on Wednesday, will help fund the Quezon North wind power project, which will deliver up to 552.5 megawatts (MW) of capacity. The project will be constructed in two phases: 344.5 MW by Q4 2026 and 208 MW by Q4 2027.
This development follows a P34.41 billion loan secured in March for the project’s first phase, backed by major banks including BPI, BDO, and RCBC.
ACEN is targeting 20,000 MW of renewable energy capacity by 2030 as part of its broader goal to reach Net Zero emissions by 2050. The company has earmarked P70 billion for capital expenditures in 2025 and expects to complete 1,200 MW of renewable capacity across the Philippines, India, and Laos by end-2025.
ACEN also maintains renewable energy operations in Australia, Vietnam, the U.S., Indonesia, Malaysia, Bangladesh, and Taiwan.
