ACEN Corp., the listed green energy arm of the Ayala Group, has secured a project finance term loan worth INR7.517 billion to fund the development of its Bijapur Wind project in Karnataka, India, marking another step in its regional expansion.
The financing, arranged with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Banking Corporation, will partially support the construction of the project’s first 100-megawatt phase. The greenfield facility underscores continued backing from global lenders for ACEN’s renewable energy platform.
Located in Bijapur, Karnataka, the project will supply power under a long-term agreement with SJVN Limited, a government-owned firm under India’s Ministry of Power. Once operational in 2027, the wind farm is expected to generate about 330 million kilowatt-hours of clean energy annually, while avoiding roughly 300,000 tonnes of carbon dioxide emissions.
The project aligns with India’s broader push to reach 500 gigawatts of renewable energy capacity by 2030, positioning ACEN to benefit from one of the fastest-growing clean energy markets globally.
Patrice Clausse, ACEN’s group chief investment officer and head of international operations, said the financing reflects strong confidence in the company’s disciplined project development approach.
“The Bijapur Wind project strengthens our growing presence in India and contributes to the country’s accelerating transition to cleaner power systems,” he said.
ACEN’s India platform CEO, Alok Nigam, added that the project forms part of a broader strategy to scale up its renewable portfolio in the country.
The deal highlights how international financing continues to flow into renewable energy projects in emerging markets, particularly in India, where policy support and rising power demand are driving investment in clean energy infrastructure.
