ACEN Corp. has announced its affiliate, Unlimited Renewables Holdings, signed agreements to acquire as much as 49 percent of Tejorupa Renewables India Project Private Limited, through partner Diamond India Renewables One B.V. (DIRO).
The deal starts with an initial 10 percent voting stake. Tejorupa is currently developing and building a 250 MW solar power plant in Rajasthan, India. The transaction will be completed in phases, pending standard conditions; financial details were not disclosed. DIRO, based in the Netherlands, is a subsidiary of Japan’s Mitsubishi Corp.
Unlimited Renewables is part of ACEN’s joint venture with UPC Renewables focused on India.
For 2026, ACEN targets to finish or begin work on 1,000 MW of new projects, mostly battery storage. As the Ayala Group’s energy arm, it aims to reach 20,000 MW of renewable capacity by 2030 and achieve net-zero emissions by 2050. ACEN operates across the Philippines, India, Australia, Southeast Asia, the U.S., and other regions.
