ACEN Corp. has completed the sale of its ownership interests in three diesel-fired power plants, totaling 189 megawatts (MW), to its affiliate and majority shareholder, AC Energy and Infrastructure Corp. (ACEIC), in a move seen as a strategic step toward its full renewable energy (RE) transition.
The deed of absolute sale was signed on 29 August 2025 covering ACEN’s shares in Bulacan Power Generation Corp. (52 MW), One Subic Power Generation Corp. (116 MW), and CIP II Power Corp. (21 MW). The transaction, valued at under 10 percent of ACEN’s end-2024 total assets of ₱329.54 billion, formally completes ACEN’s exit from diesel generation.
In a statement, ACEN said the divestment supports its goal to reach 100 percent renewable energy generation by year-end. This aligns with its broader target of growing RE capacity to 20,000 MW by 2030 and achieving Net Zero greenhouse gas emissions by 2050.
ACEN’s expansion focus currently includes projects in the Philippines, Australia, India, Vietnam, and Laos. The company expects to complete 1,200 MW of additional RE capacity by end-2025.
