ACEN secures funding for Quezon wind power project

A subsidiary of ACEN Corp., led by Ayala, has secured P34.4 billion from three local banks to finance an onshore wind farm in the Philippines. The company announced this loan agreement on Monday, confirming funding for the Quezon North Onshore Wind Power project. The project spans Laguna and Quezon provinces. It aims for a total capacity of 553 megawatts, with the first phase set to be completed by late 2026. The second phase is expected to finish by 2027 or early 2028. Overall, the wind facility requires a total investment of P70 billion. ACEN plans to develop 20 gigawatts of clean energy capacity by 2030. Their current projects include solar farms in Zambales and upcoming initiatives in Australia and Laos.