ACEN Corporation has extended a short-term loan of up to PHP 4 billion to wholly owned subsidiary SanMar Solar Inc. to help fund the next phase of one of the country’s largest solar developments.

In a disclosure to the Philippine Stock Exchange on Monday, ACEN said it executed the loan agreement on May 11.

“The loan proceeds are intended to support the construction of Phase 3 of SanMar Solar Inc.’s 585MWdc power plant located at Brgy. Santa Fe, San Marcelino, Zambales,” ACEN said.

The Sanmar Solar project has been identified as one of ACEN’s major domestic renewable energy developments. In 2025, the Board of Investments endorsed the project for Green Lane processing, allowing it to benefit from expedited permitting under Executive Order No. 18.

ACEN has also sought regulatory approval for a 500-MW battery energy storage system to be integrated with the Zambales solar facility, which would enhance the plant’s ability to deliver power during periods when solar generation is unavailable.

Once fully developed, the combined solar and storage complex is expected to become a significant addition to Luzon’s renewable energy supply and support grid stability as more variable renewable capacity comes online.

What are your thoughts on ACEN’s continued investment in large-scale solar and storage projects in the Philippines? Join the discussion.

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