ACEN secures ING loan for renewable project pipeline and corporate funding

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ACEN secures ING loan

Highlights

ACEN secured a €50 million (P3.5 billion) term loan from ING Bank N.V., Manila Branch, to fund renewable project pipeline and general corporate needs.
ACEN's attributable renewable energy capacity stands at 7.5 GW across multiple countries, targeting over 8 GW by year-end and over P80 billion in capex for 2026.
Attributable net income surged to P3.9 billion from P763 million year-on-year, with statutory net debt at P168.4 billion and shares up 2.66% to P2.70.

Loan structure and funding use

As reported by BusinessWorld Online, ACEN Corp. has secured a 50 million euro term loan facility, equivalent to about P3.5 billion, from ING Bank, N.V., Manila Branch. In a stock exchange disclosure on Tuesday, the company said subsidiary ACEN Investments, Inc. signed the facility, with proceeds earmarked for investments in its renewable energy project pipeline and for general corporate purposes.

ING Bank N.V., Singapore Branch served as agent for the transaction. The latest financing follows another 50 million euro loan that ING extended in May last year to ACEN subsidiary ACEN International, Inc.

Capacity growth and balance sheet implications

ACEN says it currently has 7.5 gigawatts of attributable renewable energy capacity from projects that are in operation, under construction, or covered by signed agreements. Its footprint spans the Philippines, Australia, Vietnam, India, Indonesia, Laos, and the U.S., reflecting the scale of its regional expansion strategy.

President and Chief Executive Officer Eric T. Francia previously said the company is on track to exceed 8 gigawatts of attributable capacity by year-end. For 2026, ACEN has allocated more than P80 billion in capital expenditures for projects in the Philippines and abroad.

The company reported attributable net income of P3.9 billion, about five times the P763 million recorded in the same period a year earlier. ACEN also says statutory net debt rose to P168.4 billion as funding continued to be deployed to projects under construction, while Francia says the group's priorities remain focused on protecting the balance sheet, growing contracted energy sales, and expanding its energy storage asset base.

At the local bourse on Tuesday, ACEN shares rose 2.66% to close at P2.70 each.

Our earlier article on Ion Platform’s $11bn debt burden explained how the fintech sought to reassure creditors amid tighter funding conditions in leveraged finance. Ion said it planned to repay lenders in full, avoid aggressive liability-management tactics, and continue opportunistic debt buybacks, while reporting improving earnings and leverage metrics.

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