country
IT
ACEN H1 net income spikes to P3.9B
['Lisbet K. Esmael']
INQUIRER.net
On Tuesday, the renewable energy producer said its first-half consolidated profit surged by 411 percent to P3.9 billion from P763 million a year ago.
Driving its net income, ACEN said its Philippine operations, the firm’s core market, generated 1,091 gigawatt hours (GWh), up 17 percent, following the better performance of its wind assets in Ilocos Norte.
Article continues after this advertisementREAD: ACEN musters AU$750M to boost expansion in AustraliaIts business in Australia, meanwhile, booked a 56-percent generation growth reaching 862 GWh.
Aside from the Philippines, Australia and India, ACEN has footprints in Vietnam, Lao PDR, and Indonesia.
“The growing global emphasis on indigenous renewable energy presents significant opportunities for ACEN,” said Jonathan Back, ACEN CFO and chief strategy officer.