ACEN Corp. said Thursday it executed a short-term loan agreement for P900 million with its wholly owned subsidiary Giga Ace 6 Inc. for the 550-megawatt (MW) Quezon North Wind Power Project.
ACEN disclosed to the stock exchange the loan agreement was executed on Oct. 1, 2025. Giga Ace 6 is the project developer of the Quezon North wind project located in the provinces of Quezon and Laguna.
On Oct. 7, 2024, the company disclosed its investment into the Quezon North Wind Power Project Phases 1 and 2, including supporting infrastructure and transmission/connection assets.
The first phase of the 344.5-MW Quezon North wind project is expected to be completed in the fourth quarter of 2026. The second phase has a capacity of 208 MW. The entire project has a cost of P70 billion.
ACEN, together with ACEN Global Development Group Inc. and Giga Ace 6, previously signed an Omnibus Loan and Security Agreement (OLSA) with the Bank of the Philippine Islands, BDO Unibank Inc. and Rizal Commercial Banking Corp. as senior lenders for a P34.41 billion green term loan facility.
ACEN signed the OLSA together with ACEN Global sponsors and guarantor with Giga Ace 6 as borrower of the loan, while BDO Unibank Inc.’s Trust Investment Group shall act as facility agent, paying agent and security trustee for the green loan to partially finance the first phase of the project.
Giga Ace 6 was awarded as a successful bidder in the Department of Energy’s Green Energy Auction Program 2.
ACEN, the renewable energy arm of the Ayala group, has about 7 gigawatts (GW) of attributable renewable energy capacity spanning projects in operation, under construction and with signed agreements. Its key market presence includes the Philippines, Australia, Vietnam, India and Laos, along with strategic investments in Indonesia, the U.S., among others.
