Ayala-led ACEN Corp. is injecting P1 billion into its wholly owned subsidiary Buendia Christiana Holdings Corp. (BCHC), which is tasked with acquiring and holding land for renewable energy (RE) projects, as disclosed in a regulatory filing. The subscription agreement was signed on Thursday, according to a report by BusinessWorld.
The capital infusion underscores ACEN’s commitment to expanding its renewable energy pipeline in the Philippines. BCHC will use the funds to secure land for upcoming solar, wind, and other RE projects, supporting the company’s goal of reaching 20 gigawatts of attributable capacity by 2030.
ACEN’s latest investment comes amid a broader push by the Philippine government to accelerate renewable energy adoption, with the Department of Energy targeting a 35% RE share in the power mix by 2030. The company currently operates several large-scale solar and wind farms across the country.