ACEN Corp. has forged a new partnership with US-based energy firm BrightNight in pursuit of a 1-gigawatt renewable energy project requiring the deployment of $1.2 billion over the next five years.
The project forms part of its long-term Philippine build-out plan for a strong domestic presence and network with partners across the region.
Last year, subsidiary ACEN Renewables International Pte. Ltd. partnered with BrighNight in building a 1.2-gigawatt facility in India requiring the deployment of $250 million.
Martin Hermann, BrightNight chief executive officer, said the partnership with ACEN was encouraged by its “success in scaling and operating large fleets of renewable assets through strategic partnerships across the region”. This other partnership in India, he said, is “already delivering tremendous value.”
“Our collaboration with BrightNight reflects our shared ambition to develop superior, hybrid renewable energy solutions. The success of our joint projects in India, which are already winning customers and building capacity, serves as a solid foundation for our venture in the Philippines,” Patrice Clausse, ACEN Group chief investment officer, said.
ACEN has a 4.4-GW diversified renewables portfolio, of which 38 percent or 1.7 GW are in operation.
Its operating capacity is expected to grow by 1 GW in the next few months as it targets total capacity of 20 GW by 2030.
Apart from the Philippines and India, ACEN has projects in Vietnam, Lao People’s Democratic Republic, Australia, United States, Indonesia and Taiwan.
