ACEN Corp. has secured a P2.93 billion loan from the Bank of the Philippine Islands (BPI) to finance the expansion of its battery energy storage system (BESS) in Zambales, according to a report by Philstar Biz .
The fresh funding will support the development of a 40-megawatt (MW) battery storage facility in the province, which is expected to enhance grid stability and enable greater integration of renewable energy sources. ACEN, the listed energy platform of the Ayala Group, has been aggressively building its BESS portfolio as part of its strategy to reach 20 gigawatts (GW) of renewable energy capacity by 2030.
This latest debt facility brings ACEN's total BESS pipeline to over 1 GW, positioning the company as a key player in the Philippines' energy transition. The project aligns with the government's push for energy storage to complement intermittent renewable sources like solar and wind.