ACEN Corp., the energy investment arm of the Ayala Group, has entered into a short-term loan agreement of up to P1 billion with its fully owned subsidiary Giga Ace 6 Inc.
The transaction was completed on August 10, 2026, the company announced Wednesday. Giga Ace 6 serves as the project firm for the 344.5-megawatt Quezon North wind power facility located in Quezon Province. ACEN has not yet shared specific details on how the loan funds will be used.
In a separate update, ACEN confirmed it has wrapped up the second and final phase of maintenance and repairs for its 52-megawatt NorthWind project in Bangui Bay, Ilocos Norte — the first wind farm ever built in Southeast Asia, which began operations in 2005.
Carried out in two stages from 2025 to 2026, the work covered all 20 wind turbines and included major mechanical and electrical improvements. The effort is set to add 769 gigawatt-hours of renewable power over the next 10 years — enough to supply around 188,000 homes and cut carbon dioxide output by roughly 592,000 tons. Most workers hired for the project came from communities in Ilocos Norte.
The upgrade will boost the plant’s efficiency, dependability and service life. It also shows ACEN’s focus on responsible asset management: extending the facility’s life avoids early shutdowns, cuts down on waste from taking apart and disposing of equipment, and makes the most of existing grid connections. This keeps the site generating income, supporting local jobs and delivering clean power to Filipinos.
“Building renewable energy facilities is only one part of the work. Making sure they run safely, efficiently and reliably for their full lifespan is just as important,” said Miguel de Jesus, ACEN Chief Operating Officer for Philippine Operations. “NorthWind shows how targeted spending can get more value from assets already linked to the grid, cut waste from early retirement, and keep supplying Filipinos with steady, clean energy.”
For 2026, ACEN intends to finish or break ground on another 1,000 megawatts of projects, mostly battery energy storage systems. The company targets reaching 20,000 megawatts of renewable capacity by 2030, and becoming net zero for greenhouse gas emissions by 2050. Outside the Philippines, ACEN runs or develops projects across Australia, India, Laos, Vietnam, the United States, Indonesia, Malaysia, Bangladesh and Taiwan, among others.
