Enexor, Inc. (ENEX) has discontinued its planned 1,100-megawatt Batangas Clean Energy (BCE) Project after mutually agreeing with partner GenX Energy LP to terminate their joint venture. The decision formally ends development of what would have been one of the company’s largest gas-fired power proposals.

In its filing, ENEX said the project struggled to move forward due to challenges in securing an offtake contract, which is a key requirement for financing and commercial viability. The difficulty in finding buyers for the plant’s output also made it hard to attract a third investor, prompting both parties to step back from the project.

The company noted that the move aligns with the broader shift of its parent firm, ACEN Corporation, which is transitioning its portfolio toward renewable energy and moving away from fossil fuel-based developments. The BCE project had remained in the pre-development stage prior to the termination.

ENEX said the termination was approved by its Executive Committee under delegated authority from the Board of Directors. No further details were provided.

Do you think more energy companies in the Philippines will follow ACEN’s move to pivot away from fossil fuel projects?

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