Greenfield plants and the elevated prices in the Wholesale Electricity Spot Market boosted Ayala-led ACEN Corporation profits in the first half this year to P4.2 billion, up 94 percent from P2.2 billion in a comparative period last year.
According to ACEN President and CEO Eric Francia, “our growth continues to be robust midway through 2023,” adding that “we've made considerable progress with the continued ramp-up of our projects, helping provide much-needed supply to the Philippines and across the region.” It qualified that for EBITDA on international ventures, this escalated 178-percent to P5.5 billion, and that was mainly stimulated by “stronger wind resources and the ongoing commissioning of the 521-megawattdc New England solar farm in Australia, supported by carbon credit sales in Vietnam.”
Source: News Formal (newsformal.com)
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