{"id":1096,"date":"2025-03-12T09:18:08","date_gmt":"2025-03-12T09:18:08","guid":{"rendered":"https:\/\/acen-microsite.tag.newdevbox.com\/?page_id=1096"},"modified":"2025-05-07T10:23:10","modified_gmt":"2025-05-07T10:23:10","slug":"business-performance","status":"publish","type":"page","link":"https:\/\/www.acenrenewables.com\/ir2024\/business-performance\/","title":{"rendered":"Business performance"},"content":{"rendered":"<style>.kb-row-layout-id1096_40f392-71 > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id1096_40f392-71 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id1096_40f392-71 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-sm, 1rem);row-gap:var(--global-kb-gap-sm, 1rem);max-width:var( --global-content-width, 1440px );padding-left:var(--global-content-edge-padding);padding-right:var(--global-content-edge-padding);padding-top:130px;padding-bottom:60px;grid-template-columns:minmax(0, calc(25% - ((var(--global-kb-gap-sm, 1rem) * 3 )\/4)))minmax(0, calc(25% - ((var(--global-kb-gap-sm, 1rem) * 3 )\/4)))minmax(0, calc(25% - ((var(--global-kb-gap-sm, 1rem) * 3 )\/4)))minmax(0, calc(25% - ((var(--global-kb-gap-sm, 1rem) * 3 )\/4)));}.kb-row-layout-id1096_40f392-71 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id1096_40f392-71 > .kt-row-column-wrap{padding-top:100px;grid-template-columns:repeat(2, minmax(0, 1fr));}}@media all and (max-width: 1024px){.kb-row-layout-id1096_40f392-71 > .kt-row-column-wrap > div:not(.added-for-specificity){grid-column:initial;}}@media all and (max-width: 767px){.kb-row-layout-id1096_40f392-71 > .kt-row-column-wrap > div:not(.added-for-specificity){grid-column:initial;}.kb-row-layout-id1096_40f392-71 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id1096_40f392-71 alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-4-columns kt-row-layout-equal kt-tab-layout-two-grid kt-mobile-layout-row kt-row-valign-top kt-inner-column-height-full kb-theme-content-width\">\n<style>.kadence-column1096_7b0baa-c2 > .kt-inside-inner-col,.kadence-column1096_7b0baa-c2 > .kt-inside-inner-col:before{border-top-left-radius:15px;border-top-right-radius:15px;border-bottom-right-radius:15px;border-bottom-left-radius:15px;}.kadence-column1096_7b0baa-c2 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_7b0baa-c2 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_7b0baa-c2 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_7b0baa-c2 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_7b0baa-c2{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_7b0baa-c2 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_7b0baa-c2 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_7b0baa-c2\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_67f508-93, .wp-block-kadence-advancedheading.kt-adv-heading1096_67f508-93[data-kb-block=\"kb-adv-heading1096_67f508-93\"]{margin-bottom:30px;font-size:16px;font-weight:600;font-style:normal;font-family:Satoshi-Bold;text-transform:uppercase;}.wp-block-kadence-advancedheading.kt-adv-heading1096_67f508-93 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_67f508-93[data-kb-block=\"kb-adv-heading1096_67f508-93\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<h3 class=\"kt-adv-heading1096_67f508-93 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_67f508-93\">Business Performance<\/h3>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_d402b4-4b, .wp-block-kadence-advancedheading.kt-adv-heading1096_d402b4-4b[data-kb-block=\"kb-adv-heading1096_d402b4-4b\"]{margin-bottom:10px;font-size:14px;line-height:1.4em;font-weight:400;font-style:normal;font-family:Satoshi-Regular;}.wp-block-kadence-advancedheading.kt-adv-heading1096_d402b4-4b mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_d402b4-4b[data-kb-block=\"kb-adv-heading1096_d402b4-4b\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_d402b4-4b wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_d402b4-4b\">The global shift towards renewable energy (RE) continued to build momentum in 2024. In the Philippines, our home market, the government continued to implement and enforce policies that encourage players to transition to renewables, especially with the impending depletion of the Malampaya gas \ufb01eld in 2027, which is expected to impact the current energy supply. To achieve the government\u2019s target of 35 percent renewables by 2030 \u2013 and longer term, 50 percent by 2040 \u2013 approximately 17 GW of new RE plants are needed, in addition to those already under construction.<br><br><br>While full-year generator-weighted average spot prices at the Wholesale Electricity Spot Market (WESM) fell below 2023 levels, a tight power situation drove spot prices up to an average of nearly P8.00 in May. This surge coincided with peak summer consumption, leading to over 150 red and yellow alerts and totaling more than 530 hours. This underscored the urgent need for more capacity to meet projected demand, which is anticipated to increase by roughly 40 percent by 2030.<\/p>\n\n\n<style>.wp-block-kadence-image.kb-image1096_b7a978-60:not(.kb-specificity-added):not(.kb-extra-specificity-added){margin-bottom:5px;}.kb-image1096_b7a978-60 .kb-image-has-overlay:after{opacity:0.3;}<\/style>\n<figure class=\"wp-block-kadence-image kb-image1096_b7a978-60 size-large\"><img decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/BP_Capa-Wind-100-1024x683.jpg\" alt=\"Capa Wind in Ilocos Norte\" class=\"kb-img wp-image-3301\" srcset=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/BP_Capa-Wind-100-1024x683.jpg 1024w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/BP_Capa-Wind-100-300x200.jpg 300w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/BP_Capa-Wind-100-768x512.jpg 768w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/BP_Capa-Wind-100.jpg 1081w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_46ee0d-86, .wp-block-kadence-advancedheading.kt-adv-heading1096_46ee0d-86[data-kb-block=\"kb-adv-heading1096_46ee0d-86\"]{margin-top:10px;margin-bottom:20px;font-size:12px;line-height:1.4em;font-weight:400;font-style:normal;font-family:Satoshi-Regular;}.wp-block-kadence-advancedheading.kt-adv-heading1096_46ee0d-86 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_46ee0d-86[data-kb-block=\"kb-adv-heading1096_46ee0d-86\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_46ee0d-86 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_46ee0d-86\">Construction for the 70 MW Capa Wind, our fourth wind project in Ilocos Norte, was completed in 2024.<\/p>\n<\/div><\/div>\n\n\n<style>.kadence-column1096_7ffac3-7f > .kt-inside-inner-col,.kadence-column1096_7ffac3-7f > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_7ffac3-7f > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_7ffac3-7f > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_7ffac3-7f > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_7ffac3-7f > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_7ffac3-7f{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_7ffac3-7f > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_7ffac3-7f > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_7ffac3-7f\"><div class=\"kt-inside-inner-col\"><style>.kadence-column1096_78198f-56 > .kt-inside-inner-col,.kadence-column1096_78198f-56 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_78198f-56 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_78198f-56 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_78198f-56 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_78198f-56 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_78198f-56{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_78198f-56 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_78198f-56 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_78198f-56\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_58a77d-54, .wp-block-kadence-advancedheading.kt-adv-heading1096_58a77d-54[data-kb-block=\"kb-adv-heading1096_58a77d-54\"]{font-size:15px;font-weight:600;font-style:normal;font-family:Satoshi-Bold;}.wp-block-kadence-advancedheading.kt-adv-heading1096_58a77d-54 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_58a77d-54[data-kb-block=\"kb-adv-heading1096_58a77d-54\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<h4 class=\"kt-adv-heading1096_58a77d-54 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_58a77d-54\">Net income<\/h4>\n\n\n<style>.kb-row-layout-id1096_79f208-02 > .kt-row-column-wrap{align-content:end;}:where(.kb-row-layout-id1096_79f208-02 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:end;}.kb-row-layout-id1096_79f208-02 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-none, 0rem );row-gap:var(--global-kb-gap-none, 0rem );padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id1096_79f208-02 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id1096_79f208-02 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id1096_79f208-02 > .kt-row-column-wrap{padding-bottom:0px;grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id1096_79f208-02 alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-bottom\">\n<style>.kadence-column1096_7baeda-93 > .kt-inside-inner-col,.kadence-column1096_7baeda-93 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_7baeda-93 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_7baeda-93 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_7baeda-93 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_7baeda-93 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_7baeda-93{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_7baeda-93 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_7baeda-93 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_7baeda-93\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_215716-f4, .wp-block-kadence-advancedheading.kt-adv-heading1096_215716-f4[data-kb-block=\"kb-adv-heading1096_215716-f4\"]{margin-bottom:5px;font-size:var(--global-kb-font-size-lg, 2rem);font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading1096_215716-f4 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_215716-f4[data-kb-block=\"kb-adv-heading1096_215716-f4\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_215716-f4 wp-block-kadence-advancedheading has-theme-palette-1-color has-text-color\" data-kb-block=\"kb-adv-heading1096_215716-f4\"><strong>P9.36<\/strong> billion<\/p>\n\n\n<style>.wp-block-kadence-iconlist.kt-svg-icon-list-items1096_6b837f-ae:not(.this-stops-third-party-issues){margin-top:0px;margin-bottom:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items1096_6b837f-ae ul.kt-svg-icon-list:not(.this-prevents-issues):not(.this-stops-third-party-issues):not(.tijsloc){margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items1096_6b837f-ae ul.kt-svg-icon-list{grid-row-gap:5px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items1096_6b837f-ae .kb-svg-icon-wrap{font-size:10px;color:var(--global-palette1, #3182CE);}.wp-block-kadence-iconlist.kt-svg-icon-list-items1096_6b837f-ae ul.kt-svg-icon-list .kt-svg-icon-list-item-wrap .kt-svg-icon-list-single{margin-right:5px;}.kt-svg-icon-list-items1096_6b837f-ae ul.kt-svg-icon-list .kt-svg-icon-list-item-wrap, .kt-svg-icon-list-items1096_6b837f-ae ul.kt-svg-icon-list .kt-svg-icon-list-item-wrap a{font-size:13px;line-height:1.2em;font-family:Satoshi-Medium;font-weight:500;}.kt-svg-icon-list-items1096_6b837f-ae ul.kt-svg-icon-list .kt-svg-icon-list-level-0 .kt-svg-icon-list-single svg{font-size:20px;}<\/style>\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items1096_6b837f-ae kt-svg-icon-list-columns-1 alignnone\"><ul class=\"kt-svg-icon-list\"><style>.kt-svg-icon-list-item-1096_54432b-92 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-1096_54432b-92\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fe_arrowUpCircle kt-svg-icon-list-single\"><svg viewBox=\"0 0 24 24\"  fill=\"none\" stroke=\"currentColor\" stroke-width=\"2\" stroke-linecap=\"round\" stroke-linejoin=\"round\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><circle cx=\"12\" cy=\"12\" r=\"10\"\/><polyline points=\"16 12 12 8 8 12\"\/><line x1=\"12\" y1=\"16\" x2=\"12\" y2=\"8\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">27% increase YOY<\/span><\/li>\n<\/ul><\/div>\n<\/div><\/div>\n\n<\/div><\/div>\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_908331-e9, .wp-block-kadence-advancedheading.kt-adv-heading1096_908331-e9[data-kb-block=\"kb-adv-heading1096_908331-e9\"]{font-size:15px;font-weight:600;font-style:normal;font-family:Satoshi-Bold;}.wp-block-kadence-advancedheading.kt-adv-heading1096_908331-e9 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_908331-e9[data-kb-block=\"kb-adv-heading1096_908331-e9\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<h4 class=\"kt-adv-heading1096_908331-e9 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_908331-e9\"><br>Core attributable EBITDA<\/h4>\n\n\n<style>.kb-row-layout-id1096_15e774-88 > .kt-row-column-wrap{align-content:end;}:where(.kb-row-layout-id1096_15e774-88 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:end;}.kb-row-layout-id1096_15e774-88 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-none, 0rem );row-gap:var(--global-kb-gap-none, 0rem );padding-top:0px;padding-right:0px;padding-bottom:3px;padding-left:0px;grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id1096_15e774-88 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id1096_15e774-88 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id1096_15e774-88 > .kt-row-column-wrap{padding-bottom:0px;grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id1096_15e774-88 alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-bottom\">\n<style>.kadence-column1096_3cd71d-1b > .kt-inside-inner-col,.kadence-column1096_3cd71d-1b > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_3cd71d-1b > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_3cd71d-1b > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_3cd71d-1b > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_3cd71d-1b > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_3cd71d-1b{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_3cd71d-1b > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_3cd71d-1b > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_3cd71d-1b kb-section-dir-vertical\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_d6997e-30, .wp-block-kadence-advancedheading.kt-adv-heading1096_d6997e-30[data-kb-block=\"kb-adv-heading1096_d6997e-30\"]{margin-bottom:5px;font-size:var(--global-kb-font-size-lg, 2rem);font-weight:400;font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading1096_d6997e-30 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_d6997e-30[data-kb-block=\"kb-adv-heading1096_d6997e-30\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_d6997e-30 wp-block-kadence-advancedheading has-theme-palette-1-color has-text-color\" data-kb-block=\"kb-adv-heading1096_d6997e-30\"><strong>P24.5<\/strong> billion<\/p>\n\n\n<style>.wp-block-kadence-iconlist.kt-svg-icon-list-items1096_2f30f3-82:not(.this-stops-third-party-issues){margin-top:0px;margin-bottom:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items1096_2f30f3-82 ul.kt-svg-icon-list:not(.this-prevents-issues):not(.this-stops-third-party-issues):not(.tijsloc){margin-top:0px;margin-right:0px;margin-bottom:0px;margin-left:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items1096_2f30f3-82 ul.kt-svg-icon-list{grid-row-gap:5px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items1096_2f30f3-82 .kb-svg-icon-wrap{font-size:10px;color:var(--global-palette1, #3182CE);}.wp-block-kadence-iconlist.kt-svg-icon-list-items1096_2f30f3-82 ul.kt-svg-icon-list .kt-svg-icon-list-item-wrap .kt-svg-icon-list-single{margin-right:5px;}.kt-svg-icon-list-items1096_2f30f3-82 ul.kt-svg-icon-list .kt-svg-icon-list-item-wrap, .kt-svg-icon-list-items1096_2f30f3-82 ul.kt-svg-icon-list .kt-svg-icon-list-item-wrap a{font-size:13px;line-height:1.2em;font-family:Satoshi-Medium;font-weight:500;}.kt-svg-icon-list-items1096_2f30f3-82 ul.kt-svg-icon-list .kt-svg-icon-list-level-0 .kt-svg-icon-list-single svg{font-size:20px;}<\/style>\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items1096_2f30f3-82 kt-svg-icon-list-columns-1 alignnone\"><ul class=\"kt-svg-icon-list\"><style>.kt-svg-icon-list-item-1096_105d27-9b .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-1096_105d27-9b\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fe_arrowUpCircle kt-svg-icon-list-single\"><svg viewBox=\"0 0 24 24\"  fill=\"none\" stroke=\"currentColor\" stroke-width=\"2\" stroke-linecap=\"round\" stroke-linejoin=\"round\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><circle cx=\"12\" cy=\"12\" r=\"10\"\/><polyline points=\"16 12 12 8 8 12\"\/><line x1=\"12\" y1=\"16\" x2=\"12\" y2=\"8\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">25% increase YOY<\/span><\/li>\n<\/ul><\/div>\n<\/div><\/div>\n\n<\/div><\/div><\/div><\/div>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_f02142-0e, .wp-block-kadence-advancedheading.kt-adv-heading1096_f02142-0e[data-kb-block=\"kb-adv-heading1096_f02142-0e\"]{padding-top:var(--global-kb-spacing-sm, 1.5rem);margin-bottom:10px;font-size:14px;line-height:1.4em;font-weight:400;font-style:normal;font-family:Satoshi-Regular;}.wp-block-kadence-advancedheading.kt-adv-heading1096_f02142-0e mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_f02142-0e[data-kb-block=\"kb-adv-heading1096_f02142-0e\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_f02142-0e wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_f02142-0e\">In our other markets, the renewables sector continued to grow. In Australia, over 4.3 GW of new RE capacity was approved for construction in 2024. India, now our second-largest market by attributable capacity, saw its total clean energy capacity reach 209 GW\u2014up 16 percent year-on-year\u2014underscoring the country\u2019s tremendous growth potential. Meanwhile, the Vietnamese government released the much-awaited Power Development Plan (PDP) 8, which lays out the next phase of RE growth in the country and provides renewed clarity for generators who have been awaiting the next opportunity to serve that country\u2019s exponential demand. It also approved the Direct Power Purchase Agreement (DPPA), which will allow the sale of renewable energy by generators directly to large-scale consumers.<br><br>Finally, we maintained our strategic presence in Indonesia, which holds signi\ufb01cant growth potential for renewable energy and remains on the cusp of implementing stronger decarbonization policies.<\/p>\n<\/div><\/div>\n\n\n<style>.kadence-column1096_35e8a2-83 > .kt-inside-inner-col,.kadence-column1096_35e8a2-83 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_35e8a2-83 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_35e8a2-83 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_35e8a2-83 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_35e8a2-83 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_35e8a2-83{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_35e8a2-83 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_35e8a2-83 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_35e8a2-83\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-spacer.kt-block-spacer-1096_8937f1-69 .kt-block-spacer{height:6px;}.wp-block-kadence-spacer.kt-block-spacer-1096_8937f1-69 .kt-divider{border-top-width:1px;height:1px;border-top-color:var(--global-palette1, #3182CE);width:100%;border-top-style:solid;}<\/style>\n<div class=\"wp-block-kadence-spacer aligncenter kt-block-spacer-1096_8937f1-69\"><div class=\"kt-block-spacer kt-block-spacer-halign-center\"><hr class=\"kt-divider\"\/><\/div><\/div>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_d4bc76-43, .wp-block-kadence-advancedheading.kt-adv-heading1096_d4bc76-43[data-kb-block=\"kb-adv-heading1096_d4bc76-43\"]{margin-top:5px;margin-bottom:15px;font-size:16px;font-weight:600;font-style:normal;font-family:Satoshi-Bold;}.wp-block-kadence-advancedheading.kt-adv-heading1096_d4bc76-43 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_d4bc76-43[data-kb-block=\"kb-adv-heading1096_d4bc76-43\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<h3 class=\"kt-adv-heading1096_d4bc76-43 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_d4bc76-43\"><strong>2024 Financial performance<\/strong><\/h3>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_409c73-f9, .wp-block-kadence-advancedheading.kt-adv-heading1096_409c73-f9[data-kb-block=\"kb-adv-heading1096_409c73-f9\"]{font-size:14px;line-height:1.4em;font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading1096_409c73-f9 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_409c73-f9[data-kb-block=\"kb-adv-heading1096_409c73-f9\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_409c73-f9 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_409c73-f9\"><br>Statutory revenues increased 2 percent year-on-year to P37.3 billion, driven by the operationalization of several new plants in the Philippines, including SanMar Solar Phases 1 and 2, Pagudpud Wind, Capa Wind and Cagayan North Solar. Our international portfolio also contributed significantly to the group\u2019s top line, with the first full year of power generation from Super (Solar NT) in Vietnam, Masaya Solar in India and New England Solar in Australia. Attributable revenues, which includes ACEN\u2019s share of revenues from international and other non-consolidated assets, grew 3.8 percent\u00a0to P54.1 billion.<br><br>We also closely track attributable earnings\u00a0before interest, taxes, depreciation and amortization (EBITDA), which includes our\u00a0profits from both wholly-owned entities and\u00a0the combined returns from our non-consolidated businesses, composed of both equity-treated preferred share dividends and equity income. Attributable EBITDA grew 30 percent in 2024 to P24.5 billion, driven by output from newly operating plants. This was further supported by strategic value realization proceeds amounting to P2.8 billion, which includes the sale of our stake in Sidrap Wind\u00a0in Indonesia for a total gain of P489 million.<br><br>Core attributable EBITDA, which excludes\u00a0<br>such value realization and interest income\u00a0<br>from accounts and other receivables, grew\u00a0<br>25 percent to P19.3 billion.\u00a0<\/p>\n<\/div><\/div>\n\n\n<style>.kadence-column1096_309744-20 > .kt-inside-inner-col,.kadence-column1096_309744-20 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_309744-20 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_309744-20 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_309744-20 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_309744-20 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_309744-20{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_309744-20 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_309744-20 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_309744-20\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-spacer.kt-block-spacer-1096_0d4c8b-e9 .kt-block-spacer{height:6px;}.wp-block-kadence-spacer.kt-block-spacer-1096_0d4c8b-e9 .kt-divider{border-top-width:1px;height:1px;border-top-color:var(--global-palette1, #3182CE);width:100%;border-top-style:solid;}<\/style>\n<div class=\"wp-block-kadence-spacer aligncenter kt-block-spacer-1096_0d4c8b-e9\"><div class=\"kt-block-spacer kt-block-spacer-halign-center\"><hr class=\"kt-divider\"\/><\/div><\/div>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_900477-4a, .wp-block-kadence-advancedheading.kt-adv-heading1096_900477-4a[data-kb-block=\"kb-adv-heading1096_900477-4a\"]{margin-top:5px;margin-bottom:15px;font-size:16px;font-weight:600;font-style:normal;font-family:Satoshi-Bold;}.wp-block-kadence-advancedheading.kt-adv-heading1096_900477-4a mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_900477-4a[data-kb-block=\"kb-adv-heading1096_900477-4a\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<h3 class=\"kt-adv-heading1096_900477-4a wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_900477-4a\">Growing our portfolio<\/h3>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_b8b073-63, .wp-block-kadence-advancedheading.kt-adv-heading1096_b8b073-63[data-kb-block=\"kb-adv-heading1096_b8b073-63\"]{margin-bottom:10px;font-size:14px;line-height:1.4em;font-weight:400;font-style:normal;font-family:Satoshi-Regular;}.wp-block-kadence-advancedheading.kt-adv-heading1096_b8b073-63 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_b8b073-63[data-kb-block=\"kb-adv-heading1096_b8b073-63\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_b8b073-63 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_b8b073-63\"><br>We concluded 2024 with 7 GW in attributable renewables capacity. Plants operating and under construction comprised 5.8 GW, while projects with signed agreements which have received board approval but have not yet been issued notice-to-proceed (NTP) made up 1.2 GW.<br><br>Our renewables portfolio now includes 2.4 GW in the Philippines, 1.7 GW in India, 1.2 GW in Australia, 1.2 GW in Vietnam and Lao PDR, with the balance in the U.S.A., Indonesia and other markets.<br><br>Our next phase of growth will be allocated among the Philippines, our home market, and our other primary markets of Australia, India and Vietnam. At the same time, we will continue to plant the seeds for future expansion in select high-potential markets such as Indonesia and other Southeast Asian countries.<\/p>\n\n\n<style>.wp-block-kadence-image.kb-image1096_e424ff-29:not(.kb-specificity-added):not(.kb-extra-specificity-added){margin-bottom:0px;}.kb-image1096_e424ff-29 .kb-image-has-overlay:after{opacity:0.3;}<\/style>\n<figure class=\"wp-block-kadence-image kb-image1096_e424ff-29 size-large\"><img decoding=\"async\" width=\"1024\" height=\"683\" src=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/BP_Cagayan-North-100-1024x683.jpg\" alt=\"Cagayan North Solar in Zambales\" class=\"kb-img wp-image-3302\" srcset=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/BP_Cagayan-North-100-1024x683.jpg 1024w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/BP_Cagayan-North-100-300x200.jpg 300w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/BP_Cagayan-North-100-768x512.jpg 768w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/BP_Cagayan-North-100.jpg 1081w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_58217a-8c, .wp-block-kadence-advancedheading.kt-adv-heading1096_58217a-8c[data-kb-block=\"kb-adv-heading1096_58217a-8c\"]{margin-top:10px;margin-bottom:20px;font-size:12px;line-height:1.4em;font-weight:400;font-style:normal;font-family:Satoshi-Regular;}.wp-block-kadence-advancedheading.kt-adv-heading1096_58217a-8c mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_58217a-8c[data-kb-block=\"kb-adv-heading1096_58217a-8c\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_58217a-8c wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_58217a-8c\">The 133 MW Cagayan North Solar is the first utility-scale solar farm in the Cagayan province, playing a key role in supporting the Philippines\u2019 renewable energy targets.<\/p>\n<\/div><\/div>\n\n<\/div><\/div>\n\n<style>.kb-row-layout-id1096_4d6e66-4b > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id1096_4d6e66-4b > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id1096_4d6e66-4b > .kt-row-column-wrap{column-gap:var(--global-kb-gap-lg, 4rem);row-gap:var(--global-kb-gap-sm, 1rem);max-width:var( --global-content-width, 1440px );padding-left:var(--global-content-edge-padding);padding-right:var(--global-content-edge-padding);padding-top:130px;padding-bottom:60px;grid-template-columns:minmax(0, 2fr) minmax(0, 1fr) minmax(0, 1fr);}.kb-row-layout-id1096_4d6e66-4b > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id1096_4d6e66-4b > .kt-row-column-wrap{padding-top:100px;grid-template-columns:repeat(3, minmax(0, 1fr));}}@media all and (max-width: 1024px){.kb-row-layout-id1096_4d6e66-4b > .kt-row-column-wrap > div:not(.added-for-specificity){grid-column:initial;}}@media all and (max-width: 767px){.kb-row-layout-id1096_4d6e66-4b > .kt-row-column-wrap > div:not(.added-for-specificity){grid-column:initial;}.kb-row-layout-id1096_4d6e66-4b > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id1096_4d6e66-4b alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-3-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top kt-inner-column-height-full kb-theme-content-width\">\n<style>.kadence-column1096_682e44-df > .kt-inside-inner-col,.kadence-column1096_682e44-df > .kt-inside-inner-col:before{border-top-left-radius:15px;border-top-right-radius:15px;border-bottom-right-radius:15px;border-bottom-left-radius:15px;}.kadence-column1096_682e44-df > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_682e44-df > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_682e44-df > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_682e44-df > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_682e44-df{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_682e44-df > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_682e44-df > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_682e44-df\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-image.kb-image1096_3be92b-85:not(.kb-specificity-added):not(.kb-extra-specificity-added){margin-bottom:0px;}.kb-image1096_3be92b-85:not(.kb-image-is-ratio-size) .kb-img, .kb-image1096_3be92b-85.kb-image-is-ratio-size{padding-bottom:var(--global-kb-spacing-xxs, 0.5rem);}.kb-image1096_3be92b-85 .kb-image-has-overlay:after{opacity:0.3;}<\/style>\n<figure class=\"wp-block-kadence-image kb-image1096_3be92b-85 image-is-svg\"><img decoding=\"async\" src=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/2025-Business-Performance-project-status-01.svg\" alt=\"2025 Business Performance project status 01\" class=\"kb-img wp-image-3896\"\/><\/figure>\n\n\n<style>.wp-block-kadence-image.kb-image1096_a814c2-71:not(.kb-specificity-added):not(.kb-extra-specificity-added){margin-bottom:0px;}.kb-image1096_a814c2-71:not(.kb-image-is-ratio-size) .kb-img, .kb-image1096_a814c2-71.kb-image-is-ratio-size{padding-top:var(--global-kb-spacing-xs, 1rem);}.kb-image1096_a814c2-71 .kb-image-has-overlay:after{opacity:0.3;}<\/style>\n<figure class=\"wp-block-kadence-image kb-image1096_a814c2-71\"><img decoding=\"async\" width=\"1024\" height=\"634\" src=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/ACEN-RES-ADB.jpg\" alt=\"ACEN RES ADB\" class=\"kb-img wp-image-3392\" srcset=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/ACEN-RES-ADB.jpg 1024w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/ACEN-RES-ADB-300x186.jpg 300w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/ACEN-RES-ADB-768x476.jpg 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_1424f9-d2, .wp-block-kadence-advancedheading.kt-adv-heading1096_1424f9-d2[data-kb-block=\"kb-adv-heading1096_1424f9-d2\"]{margin-top:10px;margin-bottom:20px;font-size:12px;line-height:1.4em;font-weight:400;font-style:normal;font-family:Satoshi-Regular;}.wp-block-kadence-advancedheading.kt-adv-heading1096_1424f9-d2 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_1424f9-d2[data-kb-block=\"kb-adv-heading1096_1424f9-d2\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_1424f9-d2 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_1424f9-d2\">Our retail electricity unit, ACEN RES, signed a landmark agreement with the Asian Development Bank (ADB) in 2024 to power its headquarters in Mandaluyong with 100 percent renewable energy.<\/p>\n\n\n<style>.kb-row-layout-id1096_673227-76 > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id1096_673227-76 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id1096_673227-76 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-sm, 1rem);padding-top:var(--global-kb-spacing-sm, 1.5rem);padding-bottom:var(--global-kb-spacing-sm, 1.5rem);grid-template-columns:minmax(0, calc(40% - ((var(--global-kb-gap-md, 2rem) * 1 )\/2)))minmax(0, calc(60% - ((var(--global-kb-gap-md, 2rem) * 1 )\/2)));}.kb-row-layout-id1096_673227-76 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id1096_673227-76 > .kt-row-column-wrap{grid-template-columns:repeat(2, minmax(0, 1fr));}}@media all and (max-width: 767px){.kb-row-layout-id1096_673227-76 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id1096_673227-76 alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-2-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column1096_2ce4c2-61 > .kt-inside-inner-col,.kadence-column1096_2ce4c2-61 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_2ce4c2-61 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_2ce4c2-61 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_2ce4c2-61 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_2ce4c2-61 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_2ce4c2-61{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_2ce4c2-61 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_2ce4c2-61 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_2ce4c2-61\"><div class=\"kt-inside-inner-col\"><style>.kb-row-layout-id1096_0e41bc-8e > .kt-row-column-wrap{align-content:end;}:where(.kb-row-layout-id1096_0e41bc-8e > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:end;}.kb-row-layout-id1096_0e41bc-8e > .kt-row-column-wrap{column-gap:var(--global-kb-gap-none, 0rem );row-gap:var(--global-kb-gap-none, 0rem );padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id1096_0e41bc-8e > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id1096_0e41bc-8e > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id1096_0e41bc-8e > .kt-row-column-wrap{padding-bottom:0px;grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id1096_0e41bc-8e alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-bottom\">\n<style>.kadence-column1096_243691-43 > .kt-inside-inner-col,.kadence-column1096_243691-43 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_243691-43 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_243691-43 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_243691-43 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_243691-43 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_243691-43{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_243691-43 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_243691-43 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_243691-43\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_5b5e9a-26, .wp-block-kadence-advancedheading.kt-adv-heading1096_5b5e9a-26[data-kb-block=\"kb-adv-heading1096_5b5e9a-26\"]{padding-bottom:15px;font-size:15px;font-weight:600;font-style:normal;font-family:Satoshi-Bold;}.wp-block-kadence-advancedheading.kt-adv-heading1096_5b5e9a-26 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_5b5e9a-26[data-kb-block=\"kb-adv-heading1096_5b5e9a-26\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<h4 class=\"kt-adv-heading1096_5b5e9a-26 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_5b5e9a-26\">Retail electricity supply growth<\/h4>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_00af3b-a3, .wp-block-kadence-advancedheading.kt-adv-heading1096_00af3b-a3[data-kb-block=\"kb-adv-heading1096_00af3b-a3\"]{margin-bottom:5px;font-size:var(--global-kb-font-size-lg, 2rem);font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading1096_00af3b-a3 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_00af3b-a3[data-kb-block=\"kb-adv-heading1096_00af3b-a3\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_00af3b-a3 wp-block-kadence-advancedheading has-theme-palette-1-color has-text-color\" data-kb-block=\"kb-adv-heading1096_00af3b-a3\"><strong>374<\/strong> MW<\/p>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_7ca04e-34, .wp-block-kadence-advancedheading.kt-adv-heading1096_7ca04e-34[data-kb-block=\"kb-adv-heading1096_7ca04e-34\"]{margin-top:0px;font-size:12px;font-weight:500;font-style:normal;font-family:Satoshi-Medium;}.wp-block-kadence-advancedheading.kt-adv-heading1096_7ca04e-34 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_7ca04e-34[data-kb-block=\"kb-adv-heading1096_7ca04e-34\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<h2 class=\"kt-adv-heading1096_7ca04e-34 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_7ca04e-34\">ACEN Renewable Energy Solutions (RES) portfolio<\/h2>\n<\/div><\/div>\n\n<\/div><\/div><\/div><\/div>\n\n\n<style>.kadence-column1096_63da92-ad > .kt-inside-inner-col,.kadence-column1096_63da92-ad > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_63da92-ad > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_63da92-ad > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_63da92-ad > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_63da92-ad > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_63da92-ad{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_63da92-ad > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_63da92-ad > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_63da92-ad\"><div class=\"kt-inside-inner-col\"><style>.kb-row-layout-id1096_daa44b-95 > .kt-row-column-wrap{align-content:end;}:where(.kb-row-layout-id1096_daa44b-95 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:end;}.kb-row-layout-id1096_daa44b-95 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-none, 0rem );row-gap:var(--global-kb-gap-none, 0rem );padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id1096_daa44b-95 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id1096_daa44b-95 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id1096_daa44b-95 > .kt-row-column-wrap{padding-bottom:0px;grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id1096_daa44b-95 alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-bottom\">\n<style>.kadence-column1096_89b5f1-ef > .kt-inside-inner-col,.kadence-column1096_89b5f1-ef > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_89b5f1-ef > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_89b5f1-ef > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_89b5f1-ef > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_89b5f1-ef > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_89b5f1-ef{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_89b5f1-ef > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_89b5f1-ef > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_89b5f1-ef\"><div class=\"kt-inside-inner-col\">\n<div style=\"height:40px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_290e3f-17, .wp-block-kadence-advancedheading.kt-adv-heading1096_290e3f-17[data-kb-block=\"kb-adv-heading1096_290e3f-17\"]{margin-bottom:5px;font-size:var(--global-kb-font-size-lg, 2rem);font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading1096_290e3f-17 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_290e3f-17[data-kb-block=\"kb-adv-heading1096_290e3f-17\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_290e3f-17 wp-block-kadence-advancedheading has-theme-palette-1-color has-text-color\" data-kb-block=\"kb-adv-heading1096_290e3f-17\"><strong>554<\/strong> retail customers<\/p>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_b04b14-b0, .wp-block-kadence-advancedheading.kt-adv-heading1096_b04b14-b0[data-kb-block=\"kb-adv-heading1096_b04b14-b0\"]{margin-top:0px;font-size:12px;font-weight:500;font-style:normal;font-family:Satoshi-Medium;}.wp-block-kadence-advancedheading.kt-adv-heading1096_b04b14-b0 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_b04b14-b0[data-kb-block=\"kb-adv-heading1096_b04b14-b0\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<h2 class=\"kt-adv-heading1096_b04b14-b0 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_b04b14-b0\">36% increase in commercial and industrial customers<\/h2>\n<\/div><\/div>\n\n<\/div><\/div><\/div><\/div>\n\n<\/div><\/div><\/div><\/div>\n\n\n<style>.kadence-column1096_91a49e-48 > .kt-inside-inner-col,.kadence-column1096_91a49e-48 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_91a49e-48 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_91a49e-48 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_91a49e-48 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_91a49e-48 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_91a49e-48{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_91a49e-48 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_91a49e-48 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_91a49e-48\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_62f798-fc, .wp-block-kadence-advancedheading.kt-adv-heading1096_62f798-fc[data-kb-block=\"kb-adv-heading1096_62f798-fc\"]{padding-top:var(--global-kb-spacing-sm, 1.5rem);margin-bottom:10px;font-size:14px;line-height:1.4em;font-weight:400;font-style:normal;font-family:Satoshi-Regular;}.wp-block-kadence-advancedheading.kt-adv-heading1096_62f798-fc mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_62f798-fc[data-kb-block=\"kb-adv-heading1096_62f798-fc\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_62f798-fc wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_62f798-fc\"><strong>Philippines<\/strong><br>In 2024, we completed several Philippine plants, including Pagudpud Wind, SanMar Solar phases 1 and 2, Cagayan North Solar and Capa Wind. Meanwhile, Arayat-Mexico 2 Solar completed its \ufb01rst full year of operations. The Quezon North Wind project, spread across the municipalities of Real and Mauban in Quezon province, also began construction in the fourth quarter. With an estimated combined capacity of 553 MW in the \ufb01rst two phases, it is set to become the largest wind farm in the country upon completion.<br><br>We also continued to expand our solar portfolio, with work commencing on SanMar Solar phase 3 and construction of Palauig Solar phase 2 well underway. These projects, along with future solar and storage developments in the area, as well as the signi\ufb01cant transmission investments we made in recent years, will form an integrated renewables energy hub which will be able to provide clean mid-merit power at scale.<br><br>In July, wholly-owned ACEN subsidiaries won two 10-year contracts, inclusive of renewable energy certi\ufb01cates (RECs), amounting to 160 MW in Meralco\u2019s Competitive Selection Process (CSP). ACEN Renewable Energy Solutions (RES),<br>our retail electricity unit, grew its portfolio to 374 MW, a 36 percent increase over 2023.<br><br>As of end-2024, ACEN RES supplied 554 customers primarily across the industrial, school, office and residential segments and is now the leading player in the RE supplier market, with 50 percent market share of all contracts under the Philippine government\u2019s Green Energy Option Program (GEOP).<\/p>\n<\/div><\/div>\n\n\n<style>.kadence-column1096_b2f798-fb > .kt-inside-inner-col{padding-top:20px;padding-right:20px;padding-bottom:20px;padding-left:20px;}.kadence-column1096_b2f798-fb > .kt-inside-inner-col,.kadence-column1096_b2f798-fb > .kt-inside-inner-col:before{border-top-left-radius:10px;border-top-right-radius:10px;border-bottom-right-radius:10px;border-bottom-left-radius:10px;}.kadence-column1096_b2f798-fb > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_b2f798-fb > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_b2f798-fb > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_b2f798-fb > .kt-inside-inner-col{background-color:#f3f2f1;}.kadence-column1096_b2f798-fb > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_b2f798-fb{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_b2f798-fb > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_b2f798-fb > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_b2f798-fb\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_a75093-d4, .wp-block-kadence-advancedheading.kt-adv-heading1096_a75093-d4[data-kb-block=\"kb-adv-heading1096_a75093-d4\"]{margin-top:0px;margin-bottom:10px;line-height:1.3em;font-weight:500;font-style:normal;font-family:Satoshi-Medium;}.wp-block-kadence-advancedheading.kt-adv-heading1096_a75093-d4 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_a75093-d4[data-kb-block=\"kb-adv-heading1096_a75093-d4\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_a75093-d4 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_a75093-d4\">Net addition to ACEN&#8217;s Philippine renewables capacity<\/p>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_32ebcf-5d, .wp-block-kadence-advancedheading.kt-adv-heading1096_32ebcf-5d[data-kb-block=\"kb-adv-heading1096_32ebcf-5d\"]{font-size:13px;line-height:1.2em;font-weight:500;font-style:normal;font-family:Satoshi-Medium;}.wp-block-kadence-advancedheading.kt-adv-heading1096_32ebcf-5d mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_32ebcf-5d[data-kb-block=\"kb-adv-heading1096_32ebcf-5d\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_32ebcf-5d wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_32ebcf-5d\">Attributable MW, both operating and under construction<\/p>\n\n\n<style>.wp-block-kadence-image.kb-image1096_9b9091-2c:not(.kb-specificity-added):not(.kb-extra-specificity-added){margin-bottom:0px;}.kb-image1096_9b9091-2c .kb-image-has-overlay:after{opacity:0.3;}<\/style>\n<figure class=\"wp-block-kadence-image kb-image1096_9b9091-2c image-is-svg\"><img decoding=\"async\" src=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/RE-capacity-ACEN-PH-plants-02.svg\" alt=\"RE capacity ACEN PH plants 02\" class=\"kb-img wp-image-3474\"\/><\/figure>\n<\/div><\/div>\n\n<\/div><\/div>\n\n<style>.kb-row-layout-id1096_03f26d-9a > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id1096_03f26d-9a > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id1096_03f26d-9a > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-sm, 1rem);max-width:var( --global-content-width, 1440px );padding-left:var(--global-content-edge-padding);padding-right:var(--global-content-edge-padding);padding-top:130px;padding-bottom:60px;grid-template-columns:minmax(0, calc(75% - ((var(--global-kb-gap-md, 2rem) * 1 )\/2)))minmax(0, calc(25% - ((var(--global-kb-gap-md, 2rem) * 1 )\/2)));}.kb-row-layout-id1096_03f26d-9a > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id1096_03f26d-9a > .kt-row-column-wrap{padding-top:100px;grid-template-columns:repeat(2, minmax(0, 1fr));}}@media all and (max-width: 767px){.kb-row-layout-id1096_03f26d-9a > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id1096_03f26d-9a alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-2-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top kt-inner-column-height-full kb-theme-content-width\">\n<style>.kadence-column1096_fe536a-0c > .kt-inside-inner-col,.kadence-column1096_fe536a-0c > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_fe536a-0c > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_fe536a-0c > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_fe536a-0c > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_fe536a-0c > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_fe536a-0c{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_fe536a-0c > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_fe536a-0c > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_fe536a-0c\"><div class=\"kt-inside-inner-col\"><style>.kb-row-layout-id1096_d481ee-6a > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id1096_d481ee-6a > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id1096_d481ee-6a > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-md, 2rem);padding-top:var(--global-kb-spacing-sm, 1.5rem);padding-bottom:var(--global-kb-spacing-sm, 1.5rem);}.kb-row-layout-id1096_d481ee-6a > .kt-row-column-wrap > div:not(.added-for-specificity){grid-column:initial;}.kb-row-layout-id1096_d481ee-6a > .kt-row-column-wrap{grid-template-columns:repeat(3, minmax(0, 1fr));}.kb-row-layout-id1096_d481ee-6a > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id1096_d481ee-6a > .kt-row-column-wrap > div:not(.added-for-specificity){grid-column:initial;}}@media all and (max-width: 1024px){.kb-row-layout-id1096_d481ee-6a > .kt-row-column-wrap{grid-template-columns:repeat(3, minmax(0, 1fr));}}@media all and (max-width: 767px){.kb-row-layout-id1096_d481ee-6a > .kt-row-column-wrap > div:not(.added-for-specificity){grid-column:initial;}.kb-row-layout-id1096_d481ee-6a > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id1096_d481ee-6a alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-3-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column1096_f8cf51-24 > .kt-inside-inner-col,.kadence-column1096_f8cf51-24 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_f8cf51-24 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_f8cf51-24 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_f8cf51-24 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_f8cf51-24 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_f8cf51-24{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_f8cf51-24 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_f8cf51-24 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_f8cf51-24\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_ce1e87-1a, .wp-block-kadence-advancedheading.kt-adv-heading1096_ce1e87-1a[data-kb-block=\"kb-adv-heading1096_ce1e87-1a\"]{font-size:14px;line-height:1.4;font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading1096_ce1e87-1a mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_ce1e87-1a[data-kb-block=\"kb-adv-heading1096_ce1e87-1a\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_ce1e87-1a wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_ce1e87-1a\"><strong>Australia<\/strong><br>New England Solar saw its \ufb01rst full year of generation following its energization in 2023, delivering a 50 percent year-on-year growth in output. Development on the plant\u2019s 200 MW battery energy storage system (BESS) began in the second quarter of 2024. Once complete, the batteries will enable the \ufb01rming of New England Solar\u2019s power supply and mitigate the plant\u2019s exposure to low-to-negative midday spot prices driven by rooftop solar capacity. Construction on 520 MW Stubbo Solar was 91 percent complete at the end of 2024, with nearly all of its solar panels already installed. The plant is currently undergoing grid commissioning ahead of its planned entry into operations in 2025.<\/p>\n<\/div><\/div>\n\n\n<style>.kadence-column1096_0ce48a-2f > .kt-inside-inner-col,.kadence-column1096_0ce48a-2f > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_0ce48a-2f > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_0ce48a-2f > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_0ce48a-2f > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_0ce48a-2f > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_0ce48a-2f{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_0ce48a-2f > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_0ce48a-2f > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_0ce48a-2f\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_d53f1e-04, .wp-block-kadence-advancedheading.kt-adv-heading1096_d53f1e-04[data-kb-block=\"kb-adv-heading1096_d53f1e-04\"]{font-size:14px;line-height:1.4;font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading1096_d53f1e-04 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_d53f1e-04[data-kb-block=\"kb-adv-heading1096_d53f1e-04\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_d53f1e-04 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_d53f1e-04\">We continued to strengthen our pipeline of projects in Australia \u2013 in December, we secured a Capacity Investment Scheme Agreement (CISA) for our ACEN Australia\u2019s 936 MW Valley of the Winds project in New South Wales. The project was the largest to secure a CISA in what is so far the biggest tender held by the Australian government.<br><br><strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-theme-palette-3-color\">India<\/mark><\/strong><br>Following its completion in 2023, Masaya Solar had its \ufb01rst full year of operations in 2024, resulting in generation growth of 93 percent year on year. Construction on the Maharashtra Solar-Wind Hybrid plant is well underway, with targeted<\/p>\n<\/div><\/div>\n\n\n<style>.kadence-column1096_a9639a-de > .kt-inside-inner-col,.kadence-column1096_a9639a-de > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_a9639a-de > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_a9639a-de > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_a9639a-de > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_a9639a-de > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_a9639a-de{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_a9639a-de > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_a9639a-de > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_a9639a-de\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_57a4e2-fd, .wp-block-kadence-advancedheading.kt-adv-heading1096_57a4e2-fd[data-kb-block=\"kb-adv-heading1096_57a4e2-fd\"]{font-size:14px;line-height:1.4;font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading1096_57a4e2-fd mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_57a4e2-fd[data-kb-block=\"kb-adv-heading1096_57a4e2-fd\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_57a4e2-fd wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_57a4e2-fd\">completion in the second half of 2025. In the third quarter of 2024, the plant\u2019s capacity was expanded to 153 MW from 132 MW, taking advantage of low solar PV prices to augment the number of installed panels. The plant\u2019s expected annual output has likewise increased from 262 GWh to 290 GWh.<br><br>In 2024, our pipeline of committed projects increased to over 1,000 MW of net attributable capacity. This brings our total capacity in India to over 1,600 MW, making the country the second-largest market in our global portfolio.<\/p>\n<\/div><\/div>\n\n<\/div><\/div>\n\n<style>.wp-block-kadence-image.kb-image1096_a3fd8a-59:not(.kb-specificity-added):not(.kb-extra-specificity-added){margin-bottom:5px;}.kb-image1096_a3fd8a-59 .kb-image-has-overlay:after{opacity:0.3;}.kb-image1096_a3fd8a-59 img.kb-img, .kb-image1096_a3fd8a-59 .kb-img img{object-position:45% 27%;}<\/style>\n<figure class=\"wp-block-kadence-image kb-image1096_a3fd8a-59 size-full kb-image-is-ratio-size\"><div class=\"kb-is-ratio-image kb-image-ratio-land31\"><img decoding=\"async\" width=\"800\" height=\"450\" src=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/ACEN-Stubbo-Solar-in-Australia.jpg\" alt=\"ACEN Stubbo Solar in Australia\" class=\"kb-img wp-image-3402\" srcset=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/ACEN-Stubbo-Solar-in-Australia.jpg 800w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/ACEN-Stubbo-Solar-in-Australia-300x169.jpg 300w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/ACEN-Stubbo-Solar-in-Australia-768x432.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/div><\/figure>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_8c8d71-5b, .wp-block-kadence-advancedheading.kt-adv-heading1096_8c8d71-5b[data-kb-block=\"kb-adv-heading1096_8c8d71-5b\"]{padding-top:0px;margin-bottom:10px;font-size:12px;font-weight:400;font-style:normal;font-family:Satoshi-Regular;}.wp-block-kadence-advancedheading.kt-adv-heading1096_8c8d71-5b mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_8c8d71-5b[data-kb-block=\"kb-adv-heading1096_8c8d71-5b\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_8c8d71-5b wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_8c8d71-5b\">The 520 MW Stubbo Solar located in New South Wales, Australia is expected to be completed in Q3 2025.<\/p>\n<\/div><\/div>\n\n\n<style>.kadence-column1096_9b9052-23 > .kt-inside-inner-col,.kadence-column1096_9b9052-23 > .kt-inside-inner-col:before{border-top-left-radius:15px;border-top-right-radius:15px;border-bottom-right-radius:15px;border-bottom-left-radius:15px;}.kadence-column1096_9b9052-23 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_9b9052-23 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_9b9052-23 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_9b9052-23 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_9b9052-23{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_9b9052-23 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_9b9052-23 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_9b9052-23\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-image.kb-image1096_09689b-07:not(.kb-specificity-added):not(.kb-extra-specificity-added){margin-bottom:0px;}.kb-image1096_09689b-07 .kb-image-has-overlay:after{opacity:0.3;}<\/style>\n<figure class=\"wp-block-kadence-image kb-image1096_09689b-07 size-full\"><img decoding=\"async\" width=\"895\" height=\"973\" src=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/JOSE-MARIA-ZABALETA-1.jpg\" alt=\"JOSE MARIA ZABALETA\" class=\"kb-img wp-image-3304\" srcset=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/JOSE-MARIA-ZABALETA-1.jpg 895w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/JOSE-MARIA-ZABALETA-1-276x300.jpg 276w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/JOSE-MARIA-ZABALETA-1-768x835.jpg 768w\" sizes=\"(max-width: 895px) 100vw, 895px\" \/><\/figure>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_f90b77-09, .wp-block-kadence-advancedheading.kt-adv-heading1096_f90b77-09[data-kb-block=\"kb-adv-heading1096_f90b77-09\"]{padding-top:var(--global-kb-spacing-xs, 1rem);margin-bottom:10px;font-size:18px;line-height:1.3em;font-weight:400;font-style:normal;font-family:Satoshi-Regular;}.wp-block-kadence-advancedheading.kt-adv-heading1096_f90b77-09 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_f90b77-09[data-kb-block=\"kb-adv-heading1096_f90b77-09\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_f90b77-09 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_f90b77-09\"><strong>\u201cWith generation beginning at Stubbo Solar and Valley of the Winds securing a CISA, we\u2019re seeing meaningful progress across our Australia platform. While New England Solar contributed to year-on-year growth, it\u2019s the strength of our growing pipeline that signals ACEN\u2019s long-term potential in the market.\u201d<\/strong><\/p>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_924bfe-a5, .wp-block-kadence-advancedheading.kt-adv-heading1096_924bfe-a5[data-kb-block=\"kb-adv-heading1096_924bfe-a5\"]{padding-top:var(--global-kb-spacing-sm, 1.5rem);margin-bottom:0px;font-size:14px;line-height:1.2em;font-weight:600;font-style:normal;font-family:Satoshi-Bold;}.wp-block-kadence-advancedheading.kt-adv-heading1096_924bfe-a5 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_924bfe-a5[data-kb-block=\"kb-adv-heading1096_924bfe-a5\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_924bfe-a5 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_924bfe-a5\">JOSE MARIA ZABALETA<\/p>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_705b0e-74, .wp-block-kadence-advancedheading.kt-adv-heading1096_705b0e-74[data-kb-block=\"kb-adv-heading1096_705b0e-74\"]{margin-bottom:15px;font-size:12px;line-height:1.3em;font-weight:500;font-style:normal;font-family:Satoshi-Medium;}.wp-block-kadence-advancedheading.kt-adv-heading1096_705b0e-74 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_705b0e-74[data-kb-block=\"kb-adv-heading1096_705b0e-74\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_705b0e-74 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_705b0e-74\">Group Chief Operating Officer<br>&amp; Group Chief Development Officer<\/p>\n<\/div><\/div>\n\n<\/div><\/div>\n\n<style>.kb-row-layout-id1096_3fae40-e7 > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id1096_3fae40-e7 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id1096_3fae40-e7 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-sm, 1rem);max-width:var( --global-content-width, 1440px );padding-left:var(--global-content-edge-padding);padding-right:var(--global-content-edge-padding);padding-top:66px;padding-bottom:60px;grid-template-columns:minmax(0, 2fr) minmax(0, 1fr) minmax(0, 1fr);}.kb-row-layout-id1096_3fae40-e7 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id1096_3fae40-e7 > .kt-row-column-wrap > div:not(.added-for-specificity){grid-column:initial;}}@media all and (max-width: 1024px){.kb-row-layout-id1096_3fae40-e7 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr) minmax(0, 2fr) minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id1096_3fae40-e7 > .kt-row-column-wrap > div:not(.added-for-specificity){grid-column:initial;}.kb-row-layout-id1096_3fae40-e7 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id1096_3fae40-e7 alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-3-columns kt-row-layout-center-half kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top kb-theme-content-width\">\n<style>.kadence-column1096_89bb8e-f2 > .kt-inside-inner-col,.kadence-column1096_89bb8e-f2 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_89bb8e-f2 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_89bb8e-f2 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_89bb8e-f2 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_89bb8e-f2 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_89bb8e-f2{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_89bb8e-f2 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_89bb8e-f2 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_89bb8e-f2\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-image.kb-image1096_43c00c-b6:not(.kb-specificity-added):not(.kb-extra-specificity-added){margin-bottom:0px;}.kb-image1096_43c00c-b6 .kb-image-has-overlay:after{opacity:0.3;}<\/style>\n<figure class=\"wp-block-kadence-image kb-image1096_43c00c-b6 size-full\"><img decoding=\"async\" width=\"800\" height=\"450\" src=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/Monsoon-Wind-in-Laos-ACEN.jpg\" alt=\"Monsoon Wind in Laos ACEN\" class=\"kb-img wp-image-3405\" srcset=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/Monsoon-Wind-in-Laos-ACEN.jpg 800w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/Monsoon-Wind-in-Laos-ACEN-300x169.jpg 300w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/Monsoon-Wind-in-Laos-ACEN-768x432.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/figure>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_c0d907-81, .wp-block-kadence-advancedheading.kt-adv-heading1096_c0d907-81[data-kb-block=\"kb-adv-heading1096_c0d907-81\"]{margin-top:5px;margin-bottom:20px;font-size:12px;line-height:1.4em;font-weight:400;font-style:normal;font-family:Satoshi-Regular;}.wp-block-kadence-advancedheading.kt-adv-heading1096_c0d907-81 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_c0d907-81[data-kb-block=\"kb-adv-heading1096_c0d907-81\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_c0d907-81 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_c0d907-81\">Our 600 MW Monsoon Wind project is the largest wind farm in Asia and the \ufb01rst cross-border wind project exporting electricity from Lao PDR to Vietnam.<\/p>\n\n\n<style>.kb-row-layout-id1096_428324-10 > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id1096_428324-10 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id1096_428324-10 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-sm, 1rem);row-gap:var(--global-kb-gap-sm, 1rem);padding-top:18px;grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id1096_428324-10 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id1096_428324-10 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id1096_428324-10 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id1096_428324-10 alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column1096_24e1eb-fa > .kt-inside-inner-col,.kadence-column1096_24e1eb-fa > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_24e1eb-fa > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_24e1eb-fa > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_24e1eb-fa > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_24e1eb-fa > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_24e1eb-fa{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_24e1eb-fa > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_24e1eb-fa > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_24e1eb-fa\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_c169df-e3, .wp-block-kadence-advancedheading.kt-adv-heading1096_c169df-e3[data-kb-block=\"kb-adv-heading1096_c169df-e3\"]{margin-bottom:10px;font-size:14px;line-height:1.4em;font-weight:400;font-style:normal;font-family:Satoshi-Regular;}.wp-block-kadence-advancedheading.kt-adv-heading1096_c169df-e3 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_c169df-e3[data-kb-block=\"kb-adv-heading1096_c169df-e3\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_c169df-e3 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_c169df-e3\"><strong>Vietnam-Lao PDR<\/strong><br>The 60 MW Lac Hoa and Hoa Dong Wind projects, built in partnership with UPC Renewables, secured provisional tariffs from the Vietnamese government and began operating in 2024, contributing nearly 100 GWh of attributable output. This new capacity allowed overall generation from the Mekong region to grow 7 percent year-on-year. Construction on the 600 MW Monsoon Wind project in Lao PDR, where we hold a 25 percent economic interest, is well underway and is targeted for completion in the second half of 2025. Once operational, the wind farm is expected to generate nearly 1,500 GWh of renewable energy annually for export into the national grid of Vietnam.<\/p>\n<\/div><\/div>\n\n<\/div><\/div><\/div><\/div>\n\n\n<style>.kadence-column1096_0c53b6-b8 > .kt-inside-inner-col,.kadence-column1096_0c53b6-b8 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_0c53b6-b8 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_0c53b6-b8 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_0c53b6-b8 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_0c53b6-b8 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_0c53b6-b8{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_0c53b6-b8 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_0c53b6-b8 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_0c53b6-b8\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_a0c575-4f, .wp-block-kadence-advancedheading.kt-adv-heading1096_a0c575-4f[data-kb-block=\"kb-adv-heading1096_a0c575-4f\"]{margin-bottom:10px;font-size:14px;line-height:1.4em;font-weight:400;font-style:normal;font-family:Satoshi-Regular;}.wp-block-kadence-advancedheading.kt-adv-heading1096_a0c575-4f mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_a0c575-4f[data-kb-block=\"kb-adv-heading1096_a0c575-4f\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_a0c575-4f wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_a0c575-4f\"><strong>Rest of world<\/strong><br>In December, notice-to-proceed was issued for Unit 7 of Salak Geothermal in Java, Indonesia. The plant, where we hold a 15 percent economic interest, is being developed by our partner, Star Energy. The project is expected to generate around 320 GWh annually when it is completed in 2027.<br><br>In August, ACEN and Barito Renewables formalized their strategic partnership to accelerate the development of wind projects across Indonesia. As an initial step, the two companies have committed to collaborating exclusively to bring 320 MW in wind energy projects to fruition.<br><br>In the United States, we continued to progress on the repowering of Stockyard Wind in the Texas Panhandle. UPC Power Solutions, our joint venture with PivotGen and UPC Solar &amp; Wind, successfully completed the repowering of all 79 turbines across eight wind farms under the Stockyard Wind portfolio in March 2025.<br><br>We continued to explore other opportunities across Southeast Asia with both existing and new partners. Several projects are expected to begin construction within 2025, allowing us to further diversify our portfolio and participate in emerging, high-potential renewable energy markets.<\/p>\n<\/div><\/div>\n\n\n<style>.kadence-column1096_6cdf2e-1c > .kt-inside-inner-col,.kadence-column1096_6cdf2e-1c > .kt-inside-inner-col:before{border-top-left-radius:15px;border-top-right-radius:15px;border-bottom-right-radius:15px;border-bottom-left-radius:15px;}.kadence-column1096_6cdf2e-1c > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_6cdf2e-1c > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_6cdf2e-1c > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_6cdf2e-1c > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_6cdf2e-1c{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_6cdf2e-1c > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_6cdf2e-1c > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_6cdf2e-1c\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-image.kb-image1096_276105-82:not(.kb-specificity-added):not(.kb-extra-specificity-added){margin-bottom:0px;}.kb-image1096_276105-82 .kb-image-has-overlay:after{opacity:0.3;}<\/style>\n<figure class=\"wp-block-kadence-image kb-image1096_276105-82\"><img decoding=\"async\" width=\"895\" height=\"973\" src=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/Patrice-Clausse-Business-perfromance-2.jpg\" alt=\"Patrice Clausse Business perfromance 2\" class=\"kb-img wp-image-3409\" srcset=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/Patrice-Clausse-Business-perfromance-2.jpg 895w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/Patrice-Clausse-Business-perfromance-2-276x300.jpg 276w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/Patrice-Clausse-Business-perfromance-2-768x835.jpg 768w\" sizes=\"(max-width: 895px) 100vw, 895px\" \/><\/figure>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_d3472d-88, .wp-block-kadence-advancedheading.kt-adv-heading1096_d3472d-88[data-kb-block=\"kb-adv-heading1096_d3472d-88\"]{padding-top:var(--global-kb-spacing-xxs, 0.5rem);margin-bottom:10px;font-size:18px;line-height:1.4em;font-weight:400;font-style:normal;font-family:Satoshi-Regular;}.wp-block-kadence-advancedheading.kt-adv-heading1096_d3472d-88 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_d3472d-88[data-kb-block=\"kb-adv-heading1096_d3472d-88\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_d3472d-88 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_d3472d-88\"><strong><strong>\u201cStrategic collaborations are driving ACEN\u2019s expansion into high-growth international markets, strengthening our regional leadership in renewable energy.\u201d<\/strong><\/strong><\/p>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_84482e-e9, .wp-block-kadence-advancedheading.kt-adv-heading1096_84482e-e9[data-kb-block=\"kb-adv-heading1096_84482e-e9\"]{padding-top:var(--global-kb-spacing-xxs, 0.5rem);margin-bottom:0px;font-size:14px;line-height:1.2em;font-weight:600;font-style:normal;font-family:Satoshi-Bold;}.wp-block-kadence-advancedheading.kt-adv-heading1096_84482e-e9 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_84482e-e9[data-kb-block=\"kb-adv-heading1096_84482e-e9\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_84482e-e9 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_84482e-e9\"><strong>PATRICE CLAUSSE<\/strong><\/p>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_342e6e-90, .wp-block-kadence-advancedheading.kt-adv-heading1096_342e6e-90[data-kb-block=\"kb-adv-heading1096_342e6e-90\"]{margin-bottom:15px;font-size:12px;line-height:1.3em;font-weight:500;font-style:normal;font-family:Satoshi-Medium;}.wp-block-kadence-advancedheading.kt-adv-heading1096_342e6e-90 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_342e6e-90[data-kb-block=\"kb-adv-heading1096_342e6e-90\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_342e6e-90 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_342e6e-90\">Group Chief Investment Officer<\/p>\n<\/div><\/div>\n\n<\/div><\/div>\n\n<style>.kb-row-layout-id1096_a7d103-ef > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id1096_a7d103-ef > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id1096_a7d103-ef > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-sm, 1rem);max-width:var( --global-content-width, 1440px );padding-left:var(--global-content-edge-padding);padding-right:var(--global-content-edge-padding);padding-top:61px;padding-bottom:60px;grid-template-columns:minmax(0, 1fr) minmax(0, 1fr) minmax(0, 2fr);}.kb-row-layout-id1096_a7d103-ef > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id1096_a7d103-ef > .kt-row-column-wrap > div:not(.added-for-specificity){grid-column:initial;}}@media all and (max-width: 1024px){.kb-row-layout-id1096_a7d103-ef > .kt-row-column-wrap{grid-template-columns:minmax(0, 2fr) minmax(0, 1fr) minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id1096_a7d103-ef > .kt-row-column-wrap > div:not(.added-for-specificity){grid-column:initial;}.kb-row-layout-id1096_a7d103-ef > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id1096_a7d103-ef alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-3-columns kt-row-layout-left-half kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top kb-theme-content-width\">\n<style>.kadence-column1096_5b8d16-03 > .kt-inside-inner-col,.kadence-column1096_5b8d16-03 > .kt-inside-inner-col:before{border-top-left-radius:15px;border-top-right-radius:15px;border-bottom-right-radius:15px;border-bottom-left-radius:15px;}.kadence-column1096_5b8d16-03 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_5b8d16-03 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_5b8d16-03 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_5b8d16-03 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_5b8d16-03{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_5b8d16-03 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_5b8d16-03 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_5b8d16-03\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_0dd763-ad, .wp-block-kadence-advancedheading.kt-adv-heading1096_0dd763-ad[data-kb-block=\"kb-adv-heading1096_0dd763-ad\"]{margin-bottom:10px;font-size:18px;line-height:1.4em;font-weight:400;font-style:normal;font-family:Satoshi-Regular;}.wp-block-kadence-advancedheading.kt-adv-heading1096_0dd763-ad mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_0dd763-ad[data-kb-block=\"kb-adv-heading1096_0dd763-ad\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_0dd763-ad wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_0dd763-ad\"><strong><strong><strong>\u201cACEN\u2019s 27% growth in net income and 25% increase in RE output for 2024 re\ufb02ect our strong progress in expanding RE capacity. With new operational plants and robust project pipeline, we are driving meaningful contributions to the global energy transition.\u201d<\/strong><\/strong><\/strong><\/p>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_1b0011-99, .wp-block-kadence-advancedheading.kt-adv-heading1096_1b0011-99[data-kb-block=\"kb-adv-heading1096_1b0011-99\"]{padding-top:var(--global-kb-spacing-xxs, 0.5rem);margin-bottom:0px;font-size:14px;line-height:1.2em;font-weight:600;font-style:normal;font-family:Satoshi-Bold;}.wp-block-kadence-advancedheading.kt-adv-heading1096_1b0011-99 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_1b0011-99[data-kb-block=\"kb-adv-heading1096_1b0011-99\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_1b0011-99 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_1b0011-99\"><strong>JONATHAN BACK<\/strong><\/p>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_3054ea-5f, .wp-block-kadence-advancedheading.kt-adv-heading1096_3054ea-5f[data-kb-block=\"kb-adv-heading1096_3054ea-5f\"]{padding-top:0px;margin-bottom:15px;font-size:12px;line-height:1.3em;font-weight:500;font-style:normal;font-family:Satoshi-Medium;}.wp-block-kadence-advancedheading.kt-adv-heading1096_3054ea-5f mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_3054ea-5f[data-kb-block=\"kb-adv-heading1096_3054ea-5f\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_3054ea-5f wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_3054ea-5f\">Group Chief Finance Officer<br>&amp; Group Chief Strategy Officer<\/p>\n\n\n<style>.kb-image1096_906e9e-da:not(.kb-image-is-ratio-size) .kb-img, .kb-image1096_906e9e-da.kb-image-is-ratio-size{padding-top:var(--global-kb-spacing-xs, 1rem);}.kb-image1096_906e9e-da .kb-image-has-overlay:after{opacity:0.3;}<\/style>\n<figure class=\"wp-block-kadence-image kb-image1096_906e9e-da size-full\"><img decoding=\"async\" width=\"720\" height=\"780\" src=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/Jonathan-Back-business-performance-2.jpg\" alt=\"Jonathan Back business performance 2\" class=\"kb-img wp-image-3406\" srcset=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/Jonathan-Back-business-performance-2.jpg 720w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/Jonathan-Back-business-performance-2-277x300.jpg 277w\" sizes=\"(max-width: 720px) 100vw, 720px\" \/><\/figure>\n<\/div><\/div>\n\n\n<style>.kadence-column1096_c72307-a1 > .kt-inside-inner-col,.kadence-column1096_c72307-a1 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_c72307-a1 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_c72307-a1 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_c72307-a1 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_c72307-a1 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_c72307-a1{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_c72307-a1 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_c72307-a1 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_c72307-a1\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-spacer.kt-block-spacer-1096_b10a7a-c6 .kt-block-spacer{height:6px;}.wp-block-kadence-spacer.kt-block-spacer-1096_b10a7a-c6 .kt-divider{border-top-width:1px;height:1px;border-top-color:var(--global-palette1, #3182CE);width:100%;border-top-style:solid;}<\/style>\n<div class=\"wp-block-kadence-spacer aligncenter kt-block-spacer-1096_b10a7a-c6\"><div class=\"kt-block-spacer kt-block-spacer-halign-center\"><hr class=\"kt-divider\"\/><\/div><\/div>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_880d7a-81, .wp-block-kadence-advancedheading.kt-adv-heading1096_880d7a-81[data-kb-block=\"kb-adv-heading1096_880d7a-81\"]{margin-top:5px;margin-bottom:15px;font-size:16px;font-weight:600;font-style:normal;font-family:Satoshi-Bold;}.wp-block-kadence-advancedheading.kt-adv-heading1096_880d7a-81 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_880d7a-81[data-kb-block=\"kb-adv-heading1096_880d7a-81\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<h3 class=\"kt-adv-heading1096_880d7a-81 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_880d7a-81\"><strong><strong>Sustained funding to support growth<\/strong><\/strong><\/h3>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_c73a54-8e, .wp-block-kadence-advancedheading.kt-adv-heading1096_c73a54-8e[data-kb-block=\"kb-adv-heading1096_c73a54-8e\"]{font-size:14px;line-height:1.4em;font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading1096_c73a54-8e mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_c73a54-8e[data-kb-block=\"kb-adv-heading1096_c73a54-8e\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_c73a54-8e wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_c73a54-8e\">Our balance sheet is healthy, with P330 billion in assets, an increase of 16 percent compared to 2023. We closed the year with P25.2 billion in cash, a reduction of 37 percent year-on-year as we deployed funding to projects under construction and development. Net debt to equity ended at 0.69, well below our internal and external thresholds.<br><br>In February 2024, ACEN Australia secured a total of AU$150 million in green term loans from Australia and New Zealand Banking Group (ANZ) and Westpac Banking Corporation, with each bank providing AU$75 million. The green term loans represent our commitment to the Australian market, where 1 GW is already in operation and under construction, with an additional development pipeline of more than 8 GW in renewables.<br><br>In April, our subsidiary, ACEN Renewables International Pte. Ltd. (ACRI), signed a US$150 million green term loan facility with Sumitomo Mitsui Banking Corporation Singapore Branch (SMBC), for \ufb01nancing investments in renewable energy projects across the region. The green term loan has a tenure of \ufb01ve years with SMBC acting as both lender and green loan coordinator. This facility represents the \ufb01rst partnership between ACEN and SMBC.<br><\/p>\n<\/div><\/div>\n\n\n<style>.kadence-column1096_14baad-e1 > .kt-inside-inner-col,.kadence-column1096_14baad-e1 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_14baad-e1 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_14baad-e1 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_14baad-e1 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_14baad-e1 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_14baad-e1{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_14baad-e1 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_14baad-e1 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_14baad-e1\"><div class=\"kt-inside-inner-col\"><style>.kadence-column1096_1abfe1-f3 > .kt-inside-inner-col,.kadence-column1096_1abfe1-f3 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_1abfe1-f3 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_1abfe1-f3 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_1abfe1-f3 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_1abfe1-f3 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_1abfe1-f3{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_1abfe1-f3 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_1abfe1-f3 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_1abfe1-f3\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-image.kb-image1096_bc7209-1d:not(.kb-specificity-added):not(.kb-extra-specificity-added){margin-bottom:0px;}.kb-image1096_bc7209-1d .kb-image-has-overlay:after{opacity:0.3;}<\/style>\n<figure class=\"wp-block-kadence-image kb-image1096_bc7209-1d size-full kb-image-is-ratio-size\"><div class=\"kb-is-ratio-image kb-image-ratio-land21\"><img decoding=\"async\" width=\"1024\" height=\"634\" src=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/ACEN-and-SMBC-partners-in-renewable-energy.jpg\" alt=\"ACEN and SMBC partners in renewable energy\" class=\"kb-img wp-image-3414\" srcset=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/ACEN-and-SMBC-partners-in-renewable-energy.jpg 1024w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/ACEN-and-SMBC-partners-in-renewable-energy-300x186.jpg 300w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/ACEN-and-SMBC-partners-in-renewable-energy-768x476.jpg 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/div><\/figure>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_448a57-84, .wp-block-kadence-advancedheading.kt-adv-heading1096_448a57-84[data-kb-block=\"kb-adv-heading1096_448a57-84\"]{margin-top:10px;margin-bottom:20px;font-size:12px;line-height:1.4em;font-weight:400;font-style:normal;font-family:Satoshi-Regular;}.wp-block-kadence-advancedheading.kt-adv-heading1096_448a57-84 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_448a57-84[data-kb-block=\"kb-adv-heading1096_448a57-84\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_448a57-84 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_448a57-84\">Through our subsidiary, ACEN Renewables International (ACRI), we signed a US$150 million green term loan facility with SMBC to finance our renewable energy projects across the region.<\/p>\n<\/div><\/div>\n\n\n<style>.kb-row-layout-id1096_83492f-7a > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id1096_83492f-7a > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id1096_83492f-7a > .kt-row-column-wrap{column-gap:var(--global-kb-gap-md, 2rem);row-gap:var(--global-kb-gap-sm, 1rem);padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;grid-template-columns:repeat(2, minmax(0, 1fr));}.kb-row-layout-id1096_83492f-7a > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id1096_83492f-7a > .kt-row-column-wrap{grid-template-columns:repeat(2, minmax(0, 1fr));}}@media all and (max-width: 767px){.kb-row-layout-id1096_83492f-7a > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id1096_83492f-7a alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-2-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column1096_6c98a8-b2 > .kt-inside-inner-col,.kadence-column1096_6c98a8-b2 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_6c98a8-b2 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_6c98a8-b2 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_6c98a8-b2 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_6c98a8-b2 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_6c98a8-b2{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_6c98a8-b2 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_6c98a8-b2 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_6c98a8-b2\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_99d2e7-2c, .wp-block-kadence-advancedheading.kt-adv-heading1096_99d2e7-2c[data-kb-block=\"kb-adv-heading1096_99d2e7-2c\"]{margin-top:10px;margin-bottom:20px;font-size:13px;line-height:1.4em;font-weight:400;font-style:normal;font-family:Satoshi-Regular;}.wp-block-kadence-advancedheading.kt-adv-heading1096_99d2e7-2c mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_99d2e7-2c[data-kb-block=\"kb-adv-heading1096_99d2e7-2c\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_99d2e7-2c wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_99d2e7-2c\">In July, ACRI also secured a \ufb01ve-year syndicated green term loan and revolving credit facility amounting to US$150 million. A consortium of leading international \ufb01nancial institutions well-received the transaction, which further solidi\ufb01ed the market\u2019s trust and con\ufb01dence in our robust renewable energy pipeline across the region. CTBC Bank (Philippines) Corp. and CTBC Bank Co. Ltd. acted as structuring bank and arranger, respectively, and formed a strategic alliance with \ufb01ve banks \u2013 Singapore branches of CTBC Bank Co., Ltd., Malayan Banking<br>Berhad, Chang Hwa Commercial Bank, Ltd., Land Bank of Taiwan and Mega International Commercial Bank Co., Ltd.<\/p>\n<\/div><\/div>\n\n\n<style>.kadence-column1096_5aee85-1b > .kt-inside-inner-col,.kadence-column1096_5aee85-1b > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_5aee85-1b > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_5aee85-1b > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_5aee85-1b > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_5aee85-1b > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_5aee85-1b{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_5aee85-1b > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_5aee85-1b > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_5aee85-1b\"><div class=\"kt-inside-inner-col\"><style>.kadence-column1096_032462-9f > .kt-inside-inner-col,.kadence-column1096_032462-9f > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_032462-9f > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_032462-9f > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_032462-9f > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_032462-9f > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_032462-9f{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_032462-9f > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_032462-9f > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_032462-9f\"><div class=\"kt-inside-inner-col\"><style>.kadence-column1096_7fbe5e-6c > .kt-inside-inner-col,.kadence-column1096_7fbe5e-6c > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_7fbe5e-6c > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_7fbe5e-6c > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_7fbe5e-6c > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_7fbe5e-6c > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_7fbe5e-6c{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_7fbe5e-6c > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_7fbe5e-6c > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_7fbe5e-6c\"><div class=\"kt-inside-inner-col\"><style>.kb-row-layout-id1096_5d7538-e4 > .kt-row-column-wrap{align-content:end;}:where(.kb-row-layout-id1096_5d7538-e4 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:end;}.kb-row-layout-id1096_5d7538-e4 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-none, 0rem );row-gap:var(--global-kb-gap-none, 0rem );padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id1096_5d7538-e4 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id1096_5d7538-e4 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id1096_5d7538-e4 > .kt-row-column-wrap{padding-bottom:0px;grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id1096_5d7538-e4 alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-bottom\">\n<style>.kadence-column1096_8b693e-52 > .kt-inside-inner-col,.kadence-column1096_8b693e-52 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_8b693e-52 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_8b693e-52 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_8b693e-52 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_8b693e-52 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_8b693e-52{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_8b693e-52 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_8b693e-52 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_8b693e-52\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_ad8dcd-d5, .wp-block-kadence-advancedheading.kt-adv-heading1096_ad8dcd-d5[data-kb-block=\"kb-adv-heading1096_ad8dcd-d5\"]{padding-top:var(--global-kb-spacing-xs, 1rem);margin-bottom:5px;font-size:var(--global-kb-font-size-lg, 2rem);font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading1096_ad8dcd-d5 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_ad8dcd-d5[data-kb-block=\"kb-adv-heading1096_ad8dcd-d5\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_ad8dcd-d5 wp-block-kadence-advancedheading has-theme-palette-1-color has-text-color\" data-kb-block=\"kb-adv-heading1096_ad8dcd-d5\"><strong>P330<\/strong> billion<\/p>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_9aad14-d8, .wp-block-kadence-advancedheading.kt-adv-heading1096_9aad14-d8[data-kb-block=\"kb-adv-heading1096_9aad14-d8\"]{padding-top:0px;font-size:13px;font-weight:500;font-style:normal;font-family:Satoshi-Medium;}.wp-block-kadence-advancedheading.kt-adv-heading1096_9aad14-d8 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_9aad14-d8[data-kb-block=\"kb-adv-heading1096_9aad14-d8\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_9aad14-d8 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_9aad14-d8\">Consolidated assets<\/p>\n<\/div><\/div>\n\n\n<style>.kadence-column1096_004395-54 > .kt-inside-inner-col{padding-top:var(--global-kb-spacing-sm, 1.5rem);}.kadence-column1096_004395-54 > .kt-inside-inner-col,.kadence-column1096_004395-54 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_004395-54 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_004395-54 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_004395-54 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_004395-54 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_004395-54{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_004395-54 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_004395-54 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_004395-54\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_c2e500-e7, .wp-block-kadence-advancedheading.kt-adv-heading1096_c2e500-e7[data-kb-block=\"kb-adv-heading1096_c2e500-e7\"]{margin-bottom:5px;font-size:var(--global-kb-font-size-lg, 2rem);font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading1096_c2e500-e7 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_c2e500-e7[data-kb-block=\"kb-adv-heading1096_c2e500-e7\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_c2e500-e7 wp-block-kadence-advancedheading has-theme-palette-1-color has-text-color\" data-kb-block=\"kb-adv-heading1096_c2e500-e7\"><strong>0.69<\/strong><\/p>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_2c6c1a-ca, .wp-block-kadence-advancedheading.kt-adv-heading1096_2c6c1a-ca[data-kb-block=\"kb-adv-heading1096_2c6c1a-ca\"]{padding-top:0px;font-size:13px;font-weight:500;font-style:normal;font-family:Satoshi-Medium;}.wp-block-kadence-advancedheading.kt-adv-heading1096_2c6c1a-ca mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_2c6c1a-ca[data-kb-block=\"kb-adv-heading1096_2c6c1a-ca\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_2c6c1a-ca wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_2c6c1a-ca\">Net debt to equity ratio<\/p>\n<\/div><\/div>\n\n\n<style>.kadence-column1096_38d821-eb > .kt-inside-inner-col{padding-top:var(--global-kb-spacing-sm, 1.5rem);}.kadence-column1096_38d821-eb > .kt-inside-inner-col,.kadence-column1096_38d821-eb > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_38d821-eb > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_38d821-eb > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_38d821-eb > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_38d821-eb > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_38d821-eb{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_38d821-eb > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_38d821-eb > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_38d821-eb\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_0aa7da-ee, .wp-block-kadence-advancedheading.kt-adv-heading1096_0aa7da-ee[data-kb-block=\"kb-adv-heading1096_0aa7da-ee\"]{margin-bottom:5px;font-size:var(--global-kb-font-size-lg, 2rem);font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading1096_0aa7da-ee mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_0aa7da-ee[data-kb-block=\"kb-adv-heading1096_0aa7da-ee\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_0aa7da-ee wp-block-kadence-advancedheading has-theme-palette-1-color has-text-color\" data-kb-block=\"kb-adv-heading1096_0aa7da-ee\"><strong>$398 <\/strong>billion<\/p>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_c98768-37, .wp-block-kadence-advancedheading.kt-adv-heading1096_c98768-37[data-kb-block=\"kb-adv-heading1096_c98768-37\"]{padding-top:0px;font-size:13px;font-weight:500;font-style:normal;font-family:Satoshi-Medium;}.wp-block-kadence-advancedheading.kt-adv-heading1096_c98768-37 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_c98768-37[data-kb-block=\"kb-adv-heading1096_c98768-37\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_c98768-37 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_c98768-37\">Signed green term loans<\/p>\n<\/div><\/div>\n\n<\/div><\/div><\/div><\/div>\n<\/div><\/div>\n<\/div><\/div>\n\n<\/div><\/div><\/div><\/div>\n\n<\/div><\/div>\n\n<style>.kb-row-layout-id1096_4df5d0-f7 > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id1096_4df5d0-f7 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id1096_4df5d0-f7 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-sm, 1rem);row-gap:var(--global-kb-gap-sm, 1rem);max-width:var( --global-content-width, 1440px );padding-left:var(--global-content-edge-padding);padding-right:var(--global-content-edge-padding);padding-top:61px;padding-bottom:86px;grid-template-columns:repeat(2, minmax(0, 1fr));}.kb-row-layout-id1096_4df5d0-f7 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id1096_4df5d0-f7 > .kt-row-column-wrap{grid-template-columns:repeat(2, minmax(0, 1fr));}}@media all and (max-width: 767px){.kb-row-layout-id1096_4df5d0-f7 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id1096_4df5d0-f7 alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-2-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top kb-theme-content-width\">\n<style>.kadence-column1096_b2a3dc-51 > .kt-inside-inner-col,.kadence-column1096_b2a3dc-51 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_b2a3dc-51 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_b2a3dc-51 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_b2a3dc-51 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_b2a3dc-51 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_b2a3dc-51{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_b2a3dc-51 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_b2a3dc-51 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_b2a3dc-51\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-image.kb-image1096_1b8aa3-c5:not(.kb-specificity-added):not(.kb-extra-specificity-added){margin-bottom:5px;}.kb-image1096_1b8aa3-c5 .kb-image-has-overlay:after{opacity:0.3;}<\/style>\n<figure class=\"wp-block-kadence-image kb-image1096_1b8aa3-c5 size-full\"><img decoding=\"async\" width=\"1024\" height=\"792\" src=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/ACEN-SanMar-Solar-Gas-Insulated-Substation.jpg\" alt=\"ACEN SanMar Solar Gas Insulated Substation\" class=\"kb-img wp-image-3415\" srcset=\"https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/ACEN-SanMar-Solar-Gas-Insulated-Substation.jpg 1024w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/ACEN-SanMar-Solar-Gas-Insulated-Substation-300x232.jpg 300w, https:\/\/www.acenrenewables.com\/ir2024\/wp-content\/uploads\/2025\/04\/ACEN-SanMar-Solar-Gas-Insulated-Substation-768x594.jpg 768w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading1096_46cfdb-f4, .wp-block-kadence-advancedheading.kt-adv-heading1096_46cfdb-f4[data-kb-block=\"kb-adv-heading1096_46cfdb-f4\"]{margin-top:10px;margin-bottom:20px;font-size:12px;line-height:1.4em;font-weight:400;font-style:normal;font-family:Satoshi-Regular;}.wp-block-kadence-advancedheading.kt-adv-heading1096_46cfdb-f4 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_46cfdb-f4[data-kb-block=\"kb-adv-heading1096_46cfdb-f4\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_46cfdb-f4 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_46cfdb-f4\">In our 585 MW SanMar Solar, we built a gas-insulated type substation with intricate engineering requirements to accommodate large amounts of renewable generation.<\/p>\n<\/div><\/div>\n\n\n<style>.kadence-column1096_2d6d2c-30 > .kt-inside-inner-col{padding-top:20px;padding-right:20px;padding-bottom:20px;padding-left:20px;}.kadence-column1096_2d6d2c-30 > .kt-inside-inner-col,.kadence-column1096_2d6d2c-30 > .kt-inside-inner-col:before{border-top-left-radius:10px;border-top-right-radius:10px;border-bottom-right-radius:10px;border-bottom-left-radius:10px;}.kadence-column1096_2d6d2c-30 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_2d6d2c-30 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_2d6d2c-30 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_2d6d2c-30 > .kt-inside-inner-col{background-color:#f3f2f1;}.kadence-column1096_2d6d2c-30 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_2d6d2c-30{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_2d6d2c-30 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_2d6d2c-30 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_2d6d2c-30\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_e01df6-bf, .wp-block-kadence-advancedheading.kt-adv-heading1096_e01df6-bf[data-kb-block=\"kb-adv-heading1096_e01df6-bf\"]{margin-bottom:5px;font-size:17px;line-height:1.4em;font-weight:400;font-style:normal;font-family:Satoshi-Regular;}.wp-block-kadence-advancedheading.kt-adv-heading1096_e01df6-bf mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_e01df6-bf[data-kb-block=\"kb-adv-heading1096_e01df6-bf\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_e01df6-bf wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_e01df6-bf\"><strong>Outlook<\/strong><\/p>\n\n\n<style>.kb-row-layout-id1096_402fd2-fd > .kt-row-column-wrap{align-content:start;}:where(.kb-row-layout-id1096_402fd2-fd > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:start;}.kb-row-layout-id1096_402fd2-fd > .kt-row-column-wrap{column-gap:var(--global-kb-gap-sm, 1rem);row-gap:var(--global-kb-gap-sm, 1rem);padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;grid-template-columns:repeat(2, minmax(0, 1fr));}.kb-row-layout-id1096_402fd2-fd > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id1096_402fd2-fd > .kt-row-column-wrap{grid-template-columns:repeat(2, minmax(0, 1fr));}}@media all and (max-width: 767px){.kb-row-layout-id1096_402fd2-fd > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id1096_402fd2-fd alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-2-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-top\">\n<style>.kadence-column1096_9ec6d9-84 > .kt-inside-inner-col,.kadence-column1096_9ec6d9-84 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_9ec6d9-84 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_9ec6d9-84 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_9ec6d9-84 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_9ec6d9-84 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_9ec6d9-84{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_9ec6d9-84 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_9ec6d9-84 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_9ec6d9-84\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_4f2edc-cf, .wp-block-kadence-advancedheading.kt-adv-heading1096_4f2edc-cf[data-kb-block=\"kb-adv-heading1096_4f2edc-cf\"]{margin-bottom:10px;font-size:14px;line-height:1.4em;font-weight:400;font-style:normal;font-family:Satoshi-Regular;}.wp-block-kadence-advancedheading.kt-adv-heading1096_4f2edc-cf mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_4f2edc-cf[data-kb-block=\"kb-adv-heading1096_4f2edc-cf\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_4f2edc-cf wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_4f2edc-cf\">Our focus for 2025 remains operationalizing the renewable energy plants we have under construction and on advancing the development of the extensive pipeline of projects across our global portfolio. To support this, we have allocated over P70 billion for capital expenditures in 2025. In the Philippines, we expect the capacity which we have operationalized in the past year to contribute signi\ufb01cantly to generation, further improving our net selling position and ability to capture market opportunities. We are also keeping a close eye on the upcoming green energy auction GEA-3 and GEA-4 rounds, which will provide further support for renewables in our home country and inform our medium-term strategy.<br><br>In Australia, the now-commissioning 520 MW Stubbo Solar project will virtually double our capacity and output. In India, we have nearly 2 GW of projects expected to begin construction in 2025 which will underpin our future growth in this<br>dynamic market.<\/p>\n<\/div><\/div>\n\n\n<style>.kadence-column1096_7e9bec-52 > .kt-inside-inner-col{padding-top:0px;}.kadence-column1096_7e9bec-52 > .kt-inside-inner-col,.kadence-column1096_7e9bec-52 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_7e9bec-52 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_7e9bec-52 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_7e9bec-52 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_7e9bec-52 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_7e9bec-52{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_7e9bec-52 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_7e9bec-52 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_7e9bec-52\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_7c16b2-b4, .wp-block-kadence-advancedheading.kt-adv-heading1096_7c16b2-b4[data-kb-block=\"kb-adv-heading1096_7c16b2-b4\"]{margin-bottom:10px;font-size:14px;line-height:1.4em;font-weight:400;font-style:normal;font-family:Satoshi-Regular;}.wp-block-kadence-advancedheading.kt-adv-heading1096_7c16b2-b4 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_7c16b2-b4[data-kb-block=\"kb-adv-heading1096_7c16b2-b4\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_7c16b2-b4 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_7c16b2-b4\">While some uncertainty remains around the speed of the rollout of renewables due to political developments in some markets, ACEN\u2019s diversi\ufb01ed portfolio will allow us to continue to grow despite potential shifts in local landscapes.<br><br>In this more uncertain environment, we<br>will maintain a prudent approach to expansion, keeping our balance sheet robust while deploying capital to develop and operationalize our projects, and naturally favoring those projects offering the best risk-adjusted outcomes.<br>Globally, the renewables policy push remains favorable, and with our strong pipeline and growing portfolio, we believe we are well-positioned to drive sustainable growth and accelerate the energy transition.<\/p>\n\n\n<style>.kadence-column1096_237426-a1 > .kt-inside-inner-col,.kadence-column1096_237426-a1 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_237426-a1 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_237426-a1 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_237426-a1 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_237426-a1 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_237426-a1{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_237426-a1 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_237426-a1 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_237426-a1\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_24feee-2d, .wp-block-kadence-advancedheading.kt-adv-heading1096_24feee-2d[data-kb-block=\"kb-adv-heading1096_24feee-2d\"]{padding-top:var(--global-kb-spacing-sm, 1.5rem);font-size:15px;font-weight:600;font-style:normal;font-family:Satoshi-Bold;}.wp-block-kadence-advancedheading.kt-adv-heading1096_24feee-2d mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_24feee-2d[data-kb-block=\"kb-adv-heading1096_24feee-2d\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<h4 class=\"kt-adv-heading1096_24feee-2d wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading1096_24feee-2d\">2025 capital expenditure allocation<\/h4>\n\n\n<style>.kb-row-layout-id1096_f35bf0-06 > .kt-row-column-wrap{align-content:end;}:where(.kb-row-layout-id1096_f35bf0-06 > .kt-row-column-wrap) > .wp-block-kadence-column{justify-content:end;}.kb-row-layout-id1096_f35bf0-06 > .kt-row-column-wrap{column-gap:var(--global-kb-gap-none, 0rem );row-gap:var(--global-kb-gap-none, 0rem );padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;grid-template-columns:minmax(0, 1fr);}.kb-row-layout-id1096_f35bf0-06 > .kt-row-layout-overlay{opacity:0.30;}@media all and (max-width: 1024px){.kb-row-layout-id1096_f35bf0-06 > .kt-row-column-wrap{grid-template-columns:minmax(0, 1fr);}}@media all and (max-width: 767px){.kb-row-layout-id1096_f35bf0-06 > .kt-row-column-wrap{padding-bottom:0px;grid-template-columns:minmax(0, 1fr);}}<\/style><div class=\"kb-row-layout-wrap kb-row-layout-id1096_f35bf0-06 alignnone wp-block-kadence-rowlayout\"><div class=\"kt-row-column-wrap kt-has-1-columns kt-row-layout-equal kt-tab-layout-inherit kt-mobile-layout-row kt-row-valign-bottom\">\n<style>.kadence-column1096_ac5176-25 > .kt-inside-inner-col,.kadence-column1096_ac5176-25 > .kt-inside-inner-col:before{border-top-left-radius:0px;border-top-right-radius:0px;border-bottom-right-radius:0px;border-bottom-left-radius:0px;}.kadence-column1096_ac5176-25 > .kt-inside-inner-col{column-gap:var(--global-kb-gap-sm, 1rem);}.kadence-column1096_ac5176-25 > .kt-inside-inner-col{flex-direction:column;}.kadence-column1096_ac5176-25 > .kt-inside-inner-col > .aligncenter{width:100%;}.kadence-column1096_ac5176-25 > .kt-inside-inner-col:before{opacity:0.3;}.kadence-column1096_ac5176-25{position:relative;}@media all and (max-width: 1024px){.kadence-column1096_ac5176-25 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}@media all and (max-width: 767px){.kadence-column1096_ac5176-25 > .kt-inside-inner-col{flex-direction:column;justify-content:center;}}<\/style>\n<div class=\"wp-block-kadence-column kadence-column1096_ac5176-25\"><div class=\"kt-inside-inner-col\"><style>.wp-block-kadence-advancedheading.kt-adv-heading1096_a25bba-ad, .wp-block-kadence-advancedheading.kt-adv-heading1096_a25bba-ad[data-kb-block=\"kb-adv-heading1096_a25bba-ad\"]{padding-top:var(--global-kb-spacing-xxs, 0.5rem);font-size:var(--global-kb-font-size-lg, 2rem);font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading1096_a25bba-ad mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading1096_a25bba-ad[data-kb-block=\"kb-adv-heading1096_a25bba-ad\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<p class=\"kt-adv-heading1096_a25bba-ad wp-block-kadence-advancedheading has-theme-palette-1-color has-text-color\" data-kb-block=\"kb-adv-heading1096_a25bba-ad\">~<strong>P70 <\/strong>billion<\/p>\n<\/div><\/div>\n\n<\/div><\/div><\/div><\/div>\n<\/div><\/div>\n\n<\/div><\/div><\/div><\/div>\n\n<\/div><\/div>\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business Performance The global shift towards renewable energy (RE) continued to build momentum in 2024. 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