ACEN is tightening its investment pipeline, preparing to surrender some renewable energy service contracts, and reshuffling its leadership as it shifts from rapid expansion to improving project returns, operating efficiency, and profitability.
The Ayala Group’s listed energy arm has grown its attributable renewable energy capacity more than 70-fold, from about 100 megawatts in 2016 to around 7,500 MW today, representing compound annual growth of more than 50 percent.
After building a substantial portfolio across several markets, ACEN is now focused on bringing projects under construction into operation, improving the performance of existing assets, and ensuring new investments deliver attractive returns.
The shift comes with a management reshuffle and organizational realignment designed to strengthen accountability for business results and project delivery.
ACEN’s board has approved the appointment of Roman Miguel G. de Jesus as chief executive officer of ACEN Philippines, Ma. Cecilia T. Cruzabra as group chief financial officer, and Theodore Ivan Paris as group treasurer, effective Jan. 1, 2027.
John Eric T. Francia will remain president and chief executive officer of the listed parent company.
The company has reorganized its operations into three business units, each headed by a chief executive. De Jesus will lead ACEN Philippines, Patrice Clausse will oversee international investments and ACEN India under ACEN Investments, while Jose Maria Zabaleta will head ACEN Australia.
The structure gives business leaders direct responsibility for operating performance and project delivery, while group functions oversee strategy, capital allocation, and balance-sheet strength.
“Our next phase is about translating the scale we have built into stronger operating performance and long-term value,” Francia said, citing project completion, more efficient capital use, and selective investments as priorities.
De Jesus previously served as chief operating officer of the Philippine business and helped establish ACEN’s retail electricity operations in 2016.
Cruzabra, currently CFO of ACEN International and chief risk officer, will oversee group financial management, funding, risk management, capital allocation, and sustainability. Paris, formerly Ayala Corp.’s head of financial risk management, capital markets, and debt management, will oversee treasury operations.
ACEN also plans to streamline its project pipeline and voluntarily relinquish some service contracts as part of the Department of Energy’s ongoing cleanup initiative.
Future investments will be screened for strong economics, sound commercial arrangements, and strategic relevance, reflecting a shift toward disciplined capital deployment and better returns rather than capacity growth alone.
