ACEN’s Energy Transition Journey

In 2022, ACEN successfully implemented the world’s first market-based Energy Transition Mechanism which involved the divestment and early retirement of the 246 MW SLTEC coal plant in the Philippines, and its transition to cleaner technology by 2040 when the coal plant completes 25 years of operations. This groundbreaking initiative could reduce 15-25 years’ worth of emissions (or up to 50 million mtCO2 cumulative emission reduced) given that coal plants typically operate for 40-50 years.

Our progress

At the COP28 in Dubai, we made new partnerships that will help us accelerate our energy transition.
We’re collaborating with The Rockefeller Foundation and Monetary Authority of Singapore to pilot the use of Transition Credits for the early retirement of coal plants.

In the photo (L-R): Ravi Menon, MAS managing director; Eric Francia, ACEN president & CEO; Ashvin Dayal, Rockefeller Foundation SVP of climate and power

Together with Coal Asset Transition Accelerator (CATA), we’re now working on creating a Just Energy Transition roadmap to leverage on the profound impact of energy transition on our communities and workforce.

In the photo (L-R): Rebecca Collyer, European Climate Foundation executive director; Lawrence Ang, Climate Smart Ventures managing partner; Marilia Bezerra, Ikea Foundation  chief programmes officer; Andrea Guerrero Garcia, Growald Climate Fund director of field innovation; Brian O’Hanlon, RMI managing director; Eric Francia, ACEN president & CEO; Chris Stephens, Carbon Trust director

In the news

COP28: Emerging success stories for a Just Coal-to-Clean transition: The example of ACEN in the Philippines
COP28: ACEN CEO Eric Francia on the role of transition credits in early coal retirement
COP28: ACEN CEO pushes for integrated renewable energy system storage in accelerating coal phaseout
COP28: ACEN CEO Eric Francia joins panel on Coal Managed Phaseout Package
MAS launches transition credits coalition to hasten coal phase-out
Rockefeller Foundation at COP28 backs early coal retirement using carbon credits