ACEN Corp. has secured board approval for a stock rights offering (SRO) that aims to raise up to ₱30 billion, a strategic move to accelerate the company’s renewable energy expansion and manage debt, company executives said on Wednesday.
In a briefing held in Makati City, ACEN president and CEO Eric Francia said the capital raised through the SRO will support the company’s aggressive growth plans, particularly in clean energy development across key markets. “This capital infusion will allow us to do a lot of things and set ourselves towards the next five, six years,” Francia said.
The offering, targeted for completion by September 2025, will issue primary common shares to eligible shareholders at a floor price of ₱2.30 per share, with the shares to be listed on the Philippine Stock Exchange.
Francia noted that while the SRO is a major funding avenue, ACEN is also in discussions with potential partners—especially for international projects—and is maintaining prudent leverage to ensure financial flexibility. “We will not overstretch our balance sheet,” he emphasized.
The move underscores ACEN’s push to scale its renewable energy portfolio, currently focused on the Philippines, Australia, India, and the Mekong region, including Vietnam and Laos. The company targets completing 1,200 MW of new capacity by end-2025, including major projects such as the Stubbo Solar (520 MW) in Australia, the Monsoon Wind (146 MW) in Laos, and Pagudpud wind projects (217 MW) in the Philippines.
With operations spanning the U.S., Indonesia, Malaysia, Bangladesh, and Taiwan, ACEN aims to grow its total renewable capacity to 20,000 MW by 2030, aligning with its long-term ambition to achieve Net Zero greenhouse gas emissions by 2050.
