ACEN secures €50 million ING loan for renewable expansion
The financing, equivalent to P3.5 billion, will fund current and future projects, supporting the Philippine firm's ambitious capital spending plans for 2026.
New Financing Details
ACEN Corp., the energy arm of the Zobel family, has secured a new €50 million (approximately P3.5 billion) term loan facility from Dutch financial institution ING Bank N.V. The company, through its subsidiary ACEN Investments Inc., finalised the agreement with ING Bank's Manila branch, with the bank's Singapore branch acting as agent for the transaction.
This fresh capital is designated to bolster ACEN's ongoing expansion in renewable energy, including financing and refinancing existing and future projects, alongside meeting general corporate requirements.
Operational Scale and Financial Growth
ACEN Corp. reported a significant increase in its attributable net income for the first half of 2026, surging more than fivefold to P3.9 billion from P763 million in the same period last year. Revenues also climbed by 47 percent to P23.13 billion, up from P15.72 billion, driven by growth in its retail electricity supply business and contributions from newly operational assets.
The company currently manages 7.5 gigawatts of renewable energy capacity globally, encompassing projects that are operational, under construction, or committed. For 2026, ACEN has allocated over P80 billion for capital spending, with the majority directed towards its domestic power portfolio.
Strategic Direction and Past Funding
ACEN President and CEO Eric Francia outlined the company's strategic priorities, focusing on balance sheet protection, expanding contracted energy sales, and growing its energy storage asset base. This latest financing follows a similar €50 million credit facility ACEN secured from ING Bank in May 2025, which was aimed at accelerating its international expansion efforts.
By the end of the first half of 2026, ACEN's total assets had increased by nine percent year-on-year to P395 billion, while its statutory debt widened to P168.4 billion as funds were deployed to projects under construction.
This €50 million loan from ING Bank underscores ACEN's continued aggressive push into renewable energy, particularly within the Philippines and its broader regional footprint. The financing will directly support the development of new clean power infrastructure, contributing to Asia's energy transition goals.
For investors, ACEN's ability to secure substantial debt financing, coupled with its strong first-half 2026 financial performance, signals a robust project pipeline and ongoing capital deployment. This trajectory positions ACEN to expand its capacity further, potentially influencing the cost and availability of renewable energy in Southeast Asian markets.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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