ACEN Corp. has disposed of its ownership interests in three diesel plant companies in the country to its affiliate AC Energy and Infrastructure Corp.
The company stated on Monday that the transaction became effective, confirming that a deed of absolute sale of shares to ACEIC of ACEN’s interests in diesel-fired power plants with a total capacity of 189 megawatts (MW) was signed on August 29, 2025.
ACEIC is the majority shareholder of ACEN.
ACEN reiterated that this divestment will help the company achieve its goal of reaching 100 percent renewable energy generation by the end of the year, but did not specify the amount involved, only stating that it is less than 10 percent of the company’s total assets as of the end of 2024. Its assets stood at P329.54 billion based on the company’s financial statement.
Among diesel-fired power firms involved in the transaction were Bulacan Power Generation Corp.’s 52 MW facility in Norzagaray, Bulacan; One Subic Power Generation Corp.’s 116 MW facility in Subic Freeport; and CIP II Power Corp.’s 21 MW facility in Bacnotan, La Union.
Earlier, the company said its current focus on expansion projects is in the Philippines, Australia, India, and the Mekong region, specifically Vietnam and Laos.
It currently has around 6,800 MW of capacity operating, under construction, and committed.
ACEN said it expects to complete 1,200 MW worth of RE capacity by the end of 2025, particularly from projects being developed in the Philippines, Lao, and India.
ACEN, as a group, aims to increase its RE capacity to 20,000 MW by 2030 to help provide clean, reliable, and affordable energy to more people and to also become a Net Zero greenhouse gas emissions company by 2050.
ACEN also has energy projects in the United States of America, Indonesia, Malaysia, Bangladesh, and Taiwan.
