{
  "id": 12670635,
  "title": "ACEN boosts war chest with P3.5 billion ING loan",
  "url": "https://urgent.news/2026/10/07/acen-boosts-war-chest-with-p3-5-billion-ing-loan",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-07T16:00:00.000Z",
  "source": {
    "name": "Philippine Star Business",
    "slug": "philippine-star-business",
    "url": "https://www.philstar.com/business/2026/10/08/2561577/acen-boosts-war-chest-p35-billion-ing-loan"
  },
  "original_language": "en",
  "account": "MANILA, Philippines - ACEN Corp., a Zobel family-owned enterprise, has obtained an additional P3.5 billion loan from Dutch bank ING Bank N.V. to bolster its renewable energy expansion, according to a regulatory filing. ACEN Investments Inc., a subsidiary, signed the term loan facility with ING Bank Manila, while the Singapore branch served as agent. The loan will finance ACEN's existing and future renewable power projects, along with other general corporate needs.\n\nIn May last year, ACEN also secured a P50-million credit facility with ING Bank to speed up its international expansion. The company currently has 7.5 gigawatts of renewable energy capacity spread across operational, under-construction, and committed projects worldwide. ACEN has allocated more than P80 billion for capital spending this year, with most of the funds earmarked for its domestic power portfolio.\n\nFrom January to June, ACEN's attributable net income jumped by more than fivefold, reaching P3.9 billion from P763 million the previous year, while revenues grew by 47 percent to P23.13 billion from P15.72 billion. The surge in revenue was driven by the continued expansion of the retail electricity supply business and contributions from newly operational assets.\n\nACEN President and CEO Eric Francia emphasized that despite an uncertain environment, the company's priorities remain steadfast: protecting its balance sheet, growing contracted energy sales, and expanding its energy storage asset base. As of the first half, ACEN's total assets had increased by nine percent year-on-year to P395 billion. Meanwhile, its statutory debt had widened to P168.4 billion as funding continued to be deployed to projects under construction.",
  "summary": "ACEN Corp. of the Zobel family has secured additional financing of €50 million (about P3.5 billion) from Dutch banking giant ING Bank N.V. to bolster its renewable energy expansion.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}