This is in response to request for clarification of the news article entitled "Acen boosts RE portfolio with P17-B project" posted in Inquirer (Online Edition) on July 8, 2022. The article reported in part that: AC Energy Corp. of the Ayala Group is ramping up its renewable energy (RE) portfolio as it is targeting to complete two wind projects situated in Ilocos Norte within the next two years.

The 160-megawatt Balaoi and Caunayan Wind Power Project, touted as the biggest wind farm in the Philippines to date, is slated for completion next year. It is wholly owned by Acen. On the other hand, the 70-MW Caparispisan II Wind Power Project is majority owned by Acen and will be completed in 2025.

Acen president and CEO Eric Francia told reporters the listed firm is planning to commence the construction of the Caparispisan wind project within the year while the construction of the Balaoi and Caunayan wind facility began in 2021. Both wind facilities have a combined project cost of PHP 17 billion. Acen was among the entities that bagged supply contracts from the Department of Energy (DOE) following the conduct of the first round of the Green Energy Auction Program (GEAP) held in June.