Ayala-led AC Energy Corp. grew its net income in the first nine months by more than a fifth to P4.3 billion, driven by revenue growth from the generation capacity added by the company.

Revenues expanded by 24 percent to ₱18.9 billion, driven by the continued recovery of electricity demand in Luzon, as well as the growth in new operating capacity from recent acquisitions and greenfield projects.

Attributable output increased by 17% to 3,378 gigawatt-hours (GWh) as of end-September, partly driven by a 13% growth in renewable energy (RE) output and a 20% increase in generation from the Philippine assets.

ACEN president and CEO Eric Francia said the company continues to be a direct beneficiary of the steady resurgence in consumer confidence in both the Philippines and the Asia-Pacific.

To ensure its long-term growth, ACEN continues to aggressively invest in the renewable energy sector in the Philippines and across the region.

ACEN currently has 2,875 MW of attributable capacity in the Philippines and across the region, of which 1,908 MW are already operating. This is expected to increase by 154 MW with the recent acquisition of stakes in UPC- AC Renewables Australia, UPC Renewables Philippines, and NorthWind.

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AC Energy nine-month profit jumps 22%, Eric Francia says expansion initiatives paying off
Source: Filipino Daily Inquirer