ACEN Corp. continues to expand its portfolio of renewable energy (RE) projects abroad with plans for more such projects in six to nine months forward.
“I can see a few projects which should be ready for investment decision in the next six to nine months. So yes, in short, I do expect more investments overseas this year,” said Patrice Clausse, ACEN International chief executive officer, told reporters.
Clausse said the projects soon reaching final investment decision are those pursued either with existing business partners or those pursued solely by ACEN.
Clausse would not close the door on pursuing projects with new partners although he acknowledged this was hard to anticipate at this point.
Apart from the Philippines, ACEN also has operations in Australia, Vietnam, Indonesia, India, Lao PDR and the United States.
ACEN’s latest overseas project was announced in April, which will be pursued through ACEN Renewables International Pte. Ltd. involving 600 megawatts (MW) of wind power at a cost close to $1 billion in Lao PDR.
The entire ACEN group now has more than 2,400 MW of projects under construction and expects to spend P50 to P70 billion as capital expenditures this year alone.
It looks to own 20,000 MW worth of RE capacity by 2030.
