ACEN Corp, a listed energy platform of the Ayala group, owing to higher generation output and strong revenues reported a net income pf P2 billion 5 times the P405 million recorded about the same time in 2022.
ACEN’s revenue jumped by 23 percent to P9.1 billion owing it to the commissioning of new power plants in the Philippines, stronger wind regime in Vietnam, Australia (New England Solar) and improved geothermal availability in Indonesia.
Currently, ACEN has about 4,200 megawatts of attributable capacity from owned facilities in the Philippines, Australia, Vietnam, Indonesia, and India with renewable share of 98 percent, considered as the highest in Asia.
According to reliable sources ACEN was quoted “… as our renewable energy investments begin to bear fruit, ACEN is now on a stronger footing as we continue working towards our aspiration of reaching 20 GW of renewables by 2030.” Also, during the quarter last year (2022) “… renewable generation from Philippine operations increased by 1 percent to 310 GWh with the absence of the prior year’s curtailment in the Visayas, driven by new operating solar capacity and stronger wind regime in the north.”
MY COMMENT:
Definitely, the Ayala Group is among the best managed private firms evidenced by the encouraging report from ACEN. If profit is a barometer in concluding that an office, firm, company, etc. successful, the track record of ACEN is worth mentioning about.
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