ACEN Corp., the renewable energy firm led by the Ayala group, has voluntarily handed back a set of early-stage wind and solar service contracts in the Philippines, as it moves from rapid expansion toward sharper execution and more efficient capital use. The company also unveiled key executive appointments that will take effect next year, alongside its latest financial results showing strong earnings growth.
In a statement Thursday, ACEN said the relinquished contracts cover projects that could have totaled at least 4,834.2 megawatts of renewable capacity, all still in pre-development stage and none having reached final investment decision. These include major wind projects in East Ecija, Pantabangan, Zambales North, Calatagan, Manila Bay and Aparri, plus solar facilities planned in Dasol, Masinloc, Laguna, Rizal and Pililla. ACEN noted the move aligns with the Department of Energy’s ongoing contract cleanup drive and will not materially affect its operations.
President and chief executive officer Eric Francia explained the realignment follows a decade that saw the company’s attributable capacity grow from about 100 megawatts in 2016 to roughly 7,500 megawatts today. “Our focus is shifting from rapid expansion to focused execution, capital efficiency, and business resilience,” he said. “This means being more selective in allocating capital and resources, prioritizing projects that we are best positioned to execute successfully, while allowing other developers to pursue opportunities that we are not taking forward.”
Alongside the portfolio adjustments, ACEN announced new leadership appointments that will take effect January 1, 2027. Roman Miguel de Jesus will serve as chief executive officer of ACEN Philippines, while Ma. Cecilia Cruzabra takes on the role of group chief financial officer and Theodore Ivan Paris becomes group treasurer. Francia will continue as president and CEO of the listed company. Additional appointments include Patrice Clausse to head ACEN Investments, overseeing international operations and ACEN India, and Jose Maria Zabaleta as head of ACEN Australia. The company said the new structure strengthens accountability for project delivery and business performance, while centralizing oversight of strategy, capital allocation and financial health.
The executive announcements came as ACEN reported an 84 percent rise in consolidated net income for the first nine months of 2026, hitting P3.3 billion from P1.8 billion in the same period last year. Attributable generation climbed 23 percent to 5,950 gigawatt hours, driven by contributions from newly completed facilities across its portfolio. Beyond the Philippines, ACEN operates or develops projects across India, Australia, Laos, Vietnam, the United States, Indonesia, Malaysia, Bangladesh and Taiwan. Francia reaffirmed the company’s long-term commitment to the energy transition, saying it will continue pursuing investments that offer strong commercial returns and clear strategic value.
