LISTED Phinma Energy Inc. plans to spend about $2 billion on implementing renewable energy (RE) projects that would help it achieve its capacity target in the next six years as it is set to be renamed AC Energy Philippines Inc.

“Our goal is to reach 2,000 MW [megawatts] of renewables by 2025,” Phinma Energy President and Chief Executive Officer John Eric Francia said during the Ayala-led company’s annual stockholders’ meeting in Makati City on Tuesday.