ACEN partners with US firm for 1.2GW hybrid RE projects in India
BY MYRNA M. VELASCO – March 13, 2023 4:12 PM
from Manila Bulletin
Ayala-led ACEN Corporation has partnered with US firm BrightNight for 1,200-megawatt (1.2-gigawatt) renewable energy portfolio buildup that will be installed in the Indian energy market.
In a statement to the media Monday, March 13, the Ayala firm indicated that the equity to be injected by the partner firms will be $250 million; plus the warranted performance guarantees for their targeted RE projects.
The signing of the partnership agreement between BrightNight and ACEN Renewables International as well as ACEN International was announced by the Ayala energy company on Monday (March 13).
“The hybrid projects, with calibrated use of storage technologies, will operate around the clock, and focus on meeting specific load or generation pattern requirements of high quality utility off-takers (capacity buyers) and large corporates and industrial customers,” ACEN noted.
According to Patrice Clausse, CEO of ACEN International, “with this partnership, we are significantly strengthening our foothold in India’s fast-growing market as we shift from pure solar play to multi-technology renewables.”
The planned green energy installations, the company emphasized, will also include “a differentiated 100 MW co-located, wind-solar project in the resource-rich state of Maharashtra.”
Clausse said their company can look forward to “working with BrightNight’s highly experienced local team as our combined expertise will help India progress towards their energy transition goal and spur the global transition towards a net zero economy.”
BrightNight CEO Martin Hermann conveyed that they opted to partner with ACEN because the Filipino firm already “demonstrated success in scaling and operating large fleets of renewable assets through strategic partnerships across the region.”
He expounded such strategy on RE project developments is the same vision that they share with their Ayala firm-partner; primarily “on delivering what the India market requires: dispatchable, reliable, and affordable clean power.”
Along with its partners, ACEN stated that the scale of its operating and under-construction solar farm projects already hover at 630MWdc (or 450MWac).
Aside from India, ACEN has been ramping up investments in other offshore markets – including Vietnam and Australia; and it has been leveraging on the expertise of its local partners in bringing projects to commercial fruition.
