In November 2022, ACEN announced the divestment of its subsidiary South Luzon Thermal Energy Corporation (SLTEC). SLTEC is the operator of a 246-MW coal plant. ACEN touted that it exited its coal subsidiary through the world’s first market-based Energy Transition Mechanism (ETM). It said that the ETM will enable the early retirement of the 246-MWContinue reading “ACEN didn’t rid of coal power, sourced power from GNP Dinginin”
Tag Archives: ACEN
PXP’s SC 72 wells languish, ACEN/ACEX’s SC 55 most likely to proceed
SC 72 and SC 55 are the two most promising gas fields in the country. The operator of SC 72 is a company controlled by PXP while the operator of SC 55 is a company controlled by ACEX and ACEN. PXP is a unit of the Hong Kong based conglomerate First Pacific Ltd. helmed byContinue reading “PXP’s SC 72 wells languish, ACEN/ACEX’s SC 55 most likely to proceed”
ACEN’s gross profit margin turns negative in Q1 2022
ACEN generated revenue from sale of electricity in Q1 2022 of 7.4 billion, an increase of 1.7 billion from last year. But the costs of selling electricity exceed the revenue from the sale of electricity. Costs of sale of electricity were at 7.7 billion pesos. The higher cost of electricity pushed ACEN’s gross profit intoContinue reading “ACEN’s gross profit margin turns negative in Q1 2022”
Valuable ACEN shares as acquisitions currency show mastery of finance
Ayala’s strategy of hiring the smartest pays off. ACEN, Ayala’s clean energy company, is a testament to that. Ayala infused its international clean energy assets to ACEN in exchange for shares valued at just 2.97 apiece. Soon after, aided by the green energy PR, ACEN shares rose to 7-8 levels. Taking advantage of the highContinue reading “Valuable ACEN shares as acquisitions currency show mastery of finance”
Surging coal could hurt AP, ACEN
Coal prices continue to surge. The rising coal price raises the fuel cost of coal-fired power plants. Notable publicly listed companies operating base-load coal plants are Aboitiz Power Corporation (AP) and AC Energy Corporation (ACEN). Semirara Mining and Power Corporation (SCC) is predominantly a coal miner with coal-fired power plants. ACEN operates the base loadContinue reading “Surging coal could hurt AP, ACEN”
ACEN’s 1H 2021 electricity profit margin compressed to 22% from 35%
AC Energy Corporation’s profit margin from sale of electricity was 22% in the first half of 2021. Revenue from sale of electricity during that period was 13.3 Billion Pesos while costs of electricity was 10.4 Billion Pesos. That would leave a gross profit of 2.9 Billion Pesos or 22% of sales. Compare that to 1HContinue reading “ACEN’s 1H 2021 electricity profit margin compressed to 22% from 35%”
Ayala brand works magic for the mainly fossil energy company ACEN
AC Enery Corporation (ACEN) disclosed in its 2020 Annual Report that it has an attributable thermal energy generating capacity of 468 MW. Thermal energy power plants run on fossil fuel like diesel and coal. Its biggest thermal energy is a coal plant with a power generation capacity of 244 MW. ACEN’s attributable renewable energy capacityContinue reading “Ayala brand works magic for the mainly fossil energy company ACEN”
FGEN just 8% below 52-week high but still priced below book value
FGEN and subsidiaries including geothermal operator Energy Development Corporation reported a 2020 financial result showing resiliency against the pandemic. The FGEN Group ended 2020 with a cash balance of US$ 772.2 Million, US$148.3 Million higher than at the end of the preceding year. Short-term and current debts total to just US$464.3 Million. Servicing its debtContinue reading “FGEN just 8% below 52-week high but still priced below book value”
KKR – FGEN vs. GIC – ACEN
FGEN and ACEN are two energy companies operating under clean energy banner, although, both still have significant fossil fuel investments. ACEN is generating significant power from coal while FGEN is on much cleaner natural gas. Both energy companies attracted well known global institutional investors. FGEN caught the attention of KKR, a pioneer in private equityContinue reading “KKR – FGEN vs. GIC – ACEN”
Insider’s conviction APL vs. ACEN
AC Energy (ACEN) and Apollo Global Capital (APL) are two companies that are venturing into exciting new industries. ACEN is investing in renewable energy while APL will be venturing into offshore iron ore mining. Both companies have seen their share price going up to the moon. In a one-year period ACEN is up around 308%Continue reading “Insider’s conviction APL vs. ACEN”
ACEN a full display of the Ayala’s value crystallization process
On 04 February 2021, AC Energy Corporation (ACEN) disclosed that the Company’s Executive Committee approved a follow-on offering (“FOO”) at a price range of P6.00-P8.20 a share. The FOO will consist of primary share issuance of up to two billion ACEN shares and secondary shares the size to be determined at a later date. OfContinue reading “ACEN a full display of the Ayala’s value crystallization process”
Institutional investor GIC not paying “market” price for ACEN; ATRAM may have exited its ACEN position
An affiliate of institutional investor, GIC Private Limited (GIC), Arran Investments Pte. Ltd. is buying primary shares of ACEN and secondary ACEN shares of AC Energy, Inc. at a price of 2.97 a share. The market as of 02 February 2021 has priced ACEN at 7.60 a share. GIC is no ordinary institutional investor, itContinue reading “Institutional investor GIC not paying “market” price for ACEN; ATRAM may have exited its ACEN position”
A currently fossil fuel heavy ACEN touted as an ESG play
AC Energy Philippines (ACEN) has been recently touted as an Environmental, Social, and Governance (ESG) play due to its investments in renewable energy. ESG investing uses a set of standards for a company’s operation that socially conscious investors use to screen potential investment. The promotion of ACEN as an ESG investment had retail traders crowdingContinue reading “A currently fossil fuel heavy ACEN touted as an ESG play”
The rise of ACEN to a 52-week high of 6.93 exhibits the power of retail traders
From a low of 1.39 on March 13, 2020 ACEN steadily climbed to a high of 6.93 on November 24, 2020. Since then, ACEN has been trading at the 6+-peso level. At that level ACEN is valued at 17.98 P/E higher than the P/E of any power generation company. FGEN has a P/E of 8.71Continue reading “The rise of ACEN to a 52-week high of 6.93 exhibits the power of retail traders”
Ayala’s to get around 9 Billion Pesos for a portion of its ACEN shares in a deal with GIC, SRO for public holders and GIC investments to fund growth of Ayala controlled ACEN
Employment of the smartest and brightest executives pays. Executives at Ayala Corp. are on the move to recoup its money invested in energy while retaining controlling interest worth several times its original capital investment. ACEN today announced the potential investment of an affiliate of GIC Private Limited (“GIC”), Arran Investment Pte Ltd, in ACEN, inContinue reading “Ayala’s to get around 9 Billion Pesos for a portion of its ACEN shares in a deal with GIC, SRO for public holders and GIC investments to fund growth of Ayala controlled ACEN”
Insider selling, ACEN subsidiary Bulacan Power selling 3,500,000 ACEN shares
Bulacan Power Generation Corporation is a wholly owned subsidiary of AC Energy Philippines, Inc. (ACEN). Bulacan Power Generation Corporation has been owning shares of ACEN. On October 28, 2020 (disclosed October 29) Bulacan Power Generation Corporation dumped into the market 3,500,000 shares at a range of 3.82 to 3.87. When most companies are buying backContinue reading “Insider selling, ACEN subsidiary Bulacan Power selling 3,500,000 ACEN shares”
Market paying more for ACEN than the Ayalas
AC Energy Philippines, Inc. (ACEN) is the publicly listed power generation unit of Ayala Corp. ACEN was formerly the PHINMA Energy Corporation prior to its acquisition by the Ayala group from the PHINMA group. The Ayala group just recently changed the company’s name from AC Energy Philippines, Inc. to AC Energy Corporation and consequently changedContinue reading “Market paying more for ACEN than the Ayalas”
Ayala Corp. (AC) sells Infigen Energy makes a quick profit of around 1 Billion Pesos, avoids raising more debts
In a press release dated September 9, 2020, Ayala Corporation ($AC) announced the sale of its 20% holdings in Infigen Energy to Spain’s Iberdrola Group at 0.92 AUD a share. AC accumulated its holdings in Infigen Energy in July at an average cost of 0.794 AUD. In just a period of around two months, ACContinue reading “Ayala Corp. (AC) sells Infigen Energy makes a quick profit of around 1 Billion Pesos, avoids raising more debts”
ACEN (AC Energy Philippines) burning cash from operations, value hinges on the execution of Ayala energy assets consolidation into ACEN
AC Energy Philippines Inc. (ACEN) has been burning cash from its operation during the first half of 2020 (1H 2020). It burned 0.9 Billion Pesos from its operation during 1H 2020, yet ACEN has steadily been rising. ACEN’s cash in its balance sheet as of end of 1H 2020 came from borrowings. Without the cashContinue reading “ACEN (AC Energy Philippines) burning cash from operations, value hinges on the execution of Ayala energy assets consolidation into ACEN”