ACEN, the leading renewable energy company in the Philippines, with an expanding presence across the Asia Pacific, announced today its second partnership with BrightNight, to advance the development, construction, and operation of BrightNight’s initial 1.0 GWac renewable power portfolio in the Philippines.
The newly formed partnership plans to develop and construct 1 GWac of renewable energy projects in the Philippines with an estimated capital deployment of USD1.2 billion over the next five years. This is BrightNight and ACEN’s second partnership and builds on the success of the one established in India in March 2023.
With approximately 4.8 GW of attributable renewable capacity across key markets such as the Philippines, Australia, Vietnam, Indonesia, and India, ACEN is steadfast in its mission to reach 20 GW of renewable capacity by 2030. The partnership with BrightNight underscores ACEN's commitment to sustainable energy and its strategy to lead the renewable energy transition within the region.
BrightNight, a US-based company, is the next generation global renewable power producer built to deliver clean and dispatchable solutions. Martin Hermann, BrightNight CEO, said: “ACEN’s leadership in the Philippines’ renewables sector is unparalleled, and we are honored they have chosen to form a partnership with us to develop our portfolio of next generation renewable solutions in their home market. They have demonstrated success in scaling and operating large fleets of renewable assets through strategic partnerships across the region, and our existing India partnership is already delivering tremendous value. This is another successful step in our expanding relationship.”
ACEN’s investment provides BrightNight with additional resources to fund its Philippines build-out and long-term growth in one of the fastest-growing markets in Asia. In addition, ACEN will provide its strong domestic presence, partnership network, and expertise across the regional energy value chain.
Patrice Clausse, ACEN Group chief investment officer, further commented: "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. This move is a strategic fit for ACEN and aligns with our dedication to meeting our customer's energy requirements while upholding our environmental and social responsibilities."
In 2023, ACEN, through its subsidiary, ACEN Renewables International Pte. Ltd. (ACRI), formed a 50-50 partnership with BrighNight to develop, construct, and operate ~1.2 GW large-scale hybrid wind-solar and round-the-clock renewable power projects in India.
Related news:
https://www.acenrenewables.com/2023/03/acen-partners-brightnight-develop-over-1-2-gw-hybrid-renewable-energy-portfolio-india/
DISCLAIMER: This disclosure may contain forward-looking statements that are subject to risk factors and opportunities that may affect ACEN’s plans to complete the transaction/s subject of this disclosure. Each forward-looking statement is made only as of the date of this disclosure. Outcomes of the subject transaction may differ materially from those expressed in the forward-looking statements included in this disclosure. |
About ACEN
ACEN (PSE:ACEN) is the listed energy platform of the Ayala Group. The company has ~4,800 MW of attributable capacity from owned facilities in the Philippines, Australia, Vietnam, Indonesia and India, with a renewable share of 99%, which is among the highest in the region.
ACEN’s aspiration is to be the largest listed renewables platform in Southeast Asia, with a goal of reaching 20 GW of renewables capacity by 2030. ACEN is committed to transition the company’s generation portfolio to 100% renewable energy by 2025 and to become a Net Zero greenhouse gas emissions company by 2050.
www.acenrenewables.com
About BrightNight
BrightNight is the first global renewable integrated power company designed to provide utility and commercial and industrial customers with clean, dispatchable renewable power solutions. BrightNight works with customers across the U.S. and Asia Pacific to design, develop, and operate safe, reliable, large-scale renewable power projects optimized to better manage the intermittent nature of renewable energy. Its deep customer engagement process, team of proven power experts, and industry-leading solutions enable customers to overcome challenging energy sustainability standards, rapidly changing grid dynamics, and the transition away from fossil fuel generation.
www.brightnightpower.com
For inquiries and more information, please contact:
Irene Maranan
Head – Corporate Communications and Sustainability
Email: [email protected] |
ACEN CORPORATIONACEN