ETM Closing photo

L-R) : Asian Development Bank director for infrastructure finance division Jackie Surtani, RCBC executive vice president of corporate banking Elizabeth Coronel, BPI senior vice president Barbara Ann Untalan, Government Service Insurance System president and general manager Jose Arnulfo “Wick” Veloso, ACEN president & CEO Eric Francia, Insular Life chairperson Nina Aguas and EPHI president Ronald Goseco.

Equity ₱3.7 Bn

  • gsis
  • inlife
  • ephi

Debt ₱13.7 Bn

  • bpi logo
  • rcbc

First
market-based
ETM in the world

246 MW

Net dependable capacity

Unit 1 – April 2015
Unit 2 – February 2016

Start of Operations

Sub-critical Circulating
Fluidized Bed (CFB)

Calaca, Batangas,
Philippines

first etm

South Luzon Thermal Energy Corporation (SLTEC)

  • Eric Francia ACEN landmark ETM 1
  • Cora Dizon ACEN landmark ETM 1
  • Ahmed Saeeda landmark ETM
  • Wick Veloso landmark ETM
  • Nina Aguas landmark ETM 1

Key Outcomes & Impact

key outcomes first

₱17.4 billion

total transaction value, providing steady
returns to ETM investors
emmision avoided 1

Up to
50 million MT CO2

emissions avoided with early retirement
solar panel o

₱7.2 billion

proceeds to ACEN can enable construction of the equivalent
of a 600 MW solar plant
sustainability highlights

Zero coal
ownership

for ACEN following the successful completion
of the ETM transaction

Completed November 2022
quote

The Energy Transition Mechanism can be done in a market-based driven by the private sector so that we can move faster. And that’s what we did. And the good news is that we closed the world’s first market-based ETM about a year ago, in November of 2022.

ERIC FRANCIA

President & CEO

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