C04532-2025

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
Jun 25, 2025
2. SEC Identification Number
39274
3. BIR Tax Identification No.
000-506-020-000
4. Exact name of issuer as specified in its charter
ACEN CORPORATION
5. Province, country or other jurisdiction of incorporation
Makati City, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
35F Ayala Triangle Gardens Tower 2, Paseo de Roxas corner Makati Avenue, Makati City Postal Code 1226
8. Issuer's telephone number, including area code
(632) 7730 6300
9. Former name or former address, if changed since last report
N/A
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common Shares 39,677,394,773
Series A Preferred Shares 8,341,500
Series B Preferred Shares 16,658,500
11. Indicate the item numbers reported herein
Other events

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

ACEN CORPORATIONACEN

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

ACEN and UPC Renewables break ground on over 500 MW of new renewable energy projects in India
Background/Description of the Disclosure

25 June 2025 – ACEN, in partnership with UPC Renewables, has commenced construction of two major renewable energy projects in India: a 420 MW solar farm in Rajasthan and a 120 MW wind farm in Karnataka. These new developments mark a significant step forward in ACEN and UPC’s strategic expansion into one of the world’s fastest-growing clean energy markets.

Slated for completion by early 2027, the projects are expected to generate a combined 1,158 GWh of clean electricity annually, enough to power around 241,000 homes and avoid over 876,000 tons of carbon emissions each year.

Located in the high-irradiance Barmer region of Rajasthan, the 420 MW solar farm is projected to produce 767 GWh annually. In Karnataka, the 120 MW wind farm will harness strong monsoonal wind patterns and favorable terrain to deliver 391 GWh of renewable energy annually.

Together, the projects will also create over 1,500 green jobs during the construction phase, contributing to local employment and economic development.

Patrice Clausse, ACEN International CEO and group chief investment officer, said: "These new projects represent not just scale, but momentum—as we continue to turn opportunities into action. Our enduring partnership with UPC Renewables has been instrumental in enabling disciplined capital deployment across high-potential markets like India."

Brian Caffyn, chairman and group CEO of UPC Renewables, said: "Since 1994, UPC has been at the forefront of delivering renewable energy projects across multiple jurisdictions. The commencement of these new projects marks another important milestone in our expansion across Asia-Pacific, reinforcing our commitment to scalable and sustainable energy solutions. Following the successful deployment of 630 MWp of solar capacity in India, this next phase further strengthens our trusted partnership with ACEN and the excellent team in India driving this vision forward.”

“We are thrilled to kick off the second phase of growth for UPC India’s platform with the construction of these 500 MW+ solar and wind projects. The projects are part of a broader pipeline of 1 GWp+ RE projects, which we aim to deliver over the next two years and plays a meaningful role in India's green energy transition,” added Alok Nigam, CEO, UPC Renewables India.

These new projects build on the momentum of ACEN and UPC Renewables’ joint efforts in India, which already includes three operational assets: the 420 MW Masaya Solar, 70 MW Paryapt Solar and 140 MW Sitara Solar.

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Other Relevant Information

About ACEN

ACEN (PSE: ACEN), the Ayala group’s listed energy platform, is one of the fastest-growing renewable energy platforms in Asia Pacific, with the Philippines as its core and largest market. It also has a significant presence in Australia, Vietnam, India, and Lao PDR, along with strategic investments in Indonesia and other markets. The company currently has ~7 GW of attributable renewable energy capacity spanning operational, under-construction, and committed projects.

As a developer, builder, and operator, ACEN leverages its agility and collaborative approach to accelerate the energy transition. Committed to unlocking access to clean, reliable, and affordable renewable energy, the company is on track to achieve 100% renewable energy generation by 2025 and reach Net Zero greenhouse gas emissions by 2050—turning bold ambitions into real impact for businesses, communities, and indigenous groups.
www.acenrenewables.com

About UPC Renewables

UPC Renewables is a leading renewable energy developer with a 30-year track record of international development success. UPC is headquartered in Singapore and a pioneer of utility scale wind and solar farms in multiple countries since 1994. UPC formed companies have built and operated 80 projects with 10 GW of installed capacity and USD 12 Bn capital invested.

UPC’s core team with in-house full project life cycle capabilities consists of +300 renewable energy professionals and is led by an experienced leadership team. UPC is currently active in 9 countries in the Asia Pacific region with 7 GW of assets under development.

www.upcrenewables.com

For inquiries and more information, please contact:

Irene Maranan
Head – Corporate Communications and Sustainability
Email: [email protected]

DISCLAIMER: This disclosure may contain forward-looking statements that are subject to risk factors and opportunities that may affect ACEN’s plans to complete the transaction/s subject of this disclosure. Each forward-looking statement is made only as of the date of this disclosure. Outcomes of the subject transaction may differ materially from those expressed in the forward-looking statements included in this disclosure.
Filed on behalf by:
Name Candy Dacanay-Datuon
Designation Assistant Vice President