ACEN Corporation has completed the sale of its ownership stakes in three diesel power plant companies to its parent firm, AC Energy and Infrastructure Corporation (ACEIC), as part of its plan to shift fully to renewable energy.

In a disclosure to the Philippine Stock Exchange, ACEN said it signed the deed of absolute sale with ACEIC on 29 August 2025 covering 100% of the outstanding shares in the following companies:

• Bulacan Power Generation Corporation (BPGC) – owner of a 52-megawatt bunker-C fired plant in Norzagaray, Bulacan.
• One Subic Power Generation Corporation (OSPGC) – lessee of a 116-megawatt bunker-C plant in Subic Bay Freeport.
• CIP II Power Corporation (CIP II) – owner of a 21-megawatt bunker-C plant in Bacnotan, La Union.

The transaction involved the direct sale of shares, with payment made in cash upon signing of the agreements. The total deal value was less than 10% of ACEN’s total assets as of December 31, 2024.

ACEN’s board approved the sale earlier on 08 August 2025. The company noted that the divestment will help it reach its goal of achieving 100% renewable energy generation by the end of 2025.

This latest disclosure follows earlier reports filed in June and August 2025 regarding the planned transaction.

Do you think ACEN’s complete shift away from fossil fuels will set the pace for other Philippine power companies to follow?

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