ACEN Corp. said Wednesday that affiliated joint venture IBV ACEN Renewables Asia Pte. Ltd. is nearing completion of its investment assessment for solar projects in Malaysia, valued at $13 million. This development signals the company’s expansion into new markets and strengthens its commitment to renewable energy.
The joint venture, a partnership between ACEN Renewables International Pte. Ltd. and ib vogt (Singapore) Pte. Ltd., is part of ACEN’s broader strategy to increase its renewable energy capacity across the Asia-Pacific region. The company is contributing up to USD200 million in equity investments through the venture, with a target operational capacity of at least 1,000 MW.
The expansion is in keeping with ACEN’s goal of reaching 20,000 MW of renewable energy capacity by 2030, a target supported by the proposed P70 billion in capital expenditures for the year. ACEN is also on track to complete 1,200 MW of new renewable energy capacity by the end of 2025, including projects across multiple countries, from wind farms in Texas to solar and wind projects in the Philippines and Australia.
The company’s ongoing investments are key to its vision of becoming a net-zero greenhouse gas emitter by 2050, highlighting ACEN’s significant role in advancing clean and affordable energy in the global market.
