The board of ACEN International Inc. approved the acquisition of, and investment in, the 165.6 megawatts (MW) Hackberry wind project in Shackelford County, Texas, USA.
In a disclosure to the Philippine Stock Exchange yesterday, ACEN Corp. said the move is subject to finalization of commercial terms, satisfaction of agreed conditions precedent and execution of definitive documentation.
ACEN said the acquisition and investment are intended to be made by UPC Power Solutions LLC, the US joint venture company between ACEN USA LCC, PivotGen and UPC Wind and Solar Investments LLC.
ACEN said UPC Power Solutions aims to have more than 80 percent stake in the US project from Skyline Renewables.
ACEN said as of end-March 2024, it has achieved around 4,800 MW in attributable renewables capacity.
