ACEN, US company to pursue 1GW RE projects

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ACEN Corp. said its second partnership with US-based energy firm, BrightNight will pursue the development, construction and operation of an initial 1 gigawatt (GW) of renewable energy (RE) portfolio in the Philippines costing $1.2 billion over the next five years.

ACEN said its investment provides BrightNight with additional resources to fund its Philippines build-out and long-term growth, aside from providing strong domestic presence, partnership network and expertise across the regional energy value chain.

Last year, ACEN, through its subsidiary, ACEN Renewables International Pte. Ltd., formed a 50-50 partnership with BrighNight to deploy $250 million worth of equity to accelerate the development, construction and operation of 1.2 GW worth of multi-technology renewable power portfolio in India.

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Martin Hermann, BrightNight chief executive officer, said in a statement the new partnership with ACEN was formed following the latter’s “success in scaling and operating large fleets of renewable assets through strategic partnerships across the region” apart from the existing partnership in India “already delivering tremendous value.”

Patrice Clausse, ACEN Group chief investment officer, said the move is a “strategic fit” for the company.

“Our collaboration with BrightNight reflects our shared ambition to develop superior, hybrid renewable energy solutions. The success of our joint projects in India, which are already winning customers and building capacity, serves as a solid foundation for our venture in the Philippines…,” Clausses said. – Jed Macapagal

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