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(Photo: Unsplash)
ACEN, a subsidiary of the Ayala Group, has collaborated with US-based BrightNight to construct 1 GW of renewable energy portfolio in the Philippines.
The Philippine firm said the renewables portfolio will entail an investment of $1.2 billion over the next five years.
ACEN will be providing BrightNight necessary resources to fund its Philippine projects, as well as providing domestic presence, partnership network and expertise across the regional energy value chain.
This is the second partnership between the two energy companies, following a 50-50 joint venture for the development of a 1.2 GW large-scale hybrid wind-solar and round-the-clock renewables projects in India.
Patrice Clausse, ACEN’s Chief Investment Officer, said: “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.
He also mentioned that the strategic move is fitting for ACEN and aligns with its dedication to meeting customer’s energy requirements while upholding their environmental and social responsibilities.
With a current renewable capacity of 4.8 GW across the Philippines, Australia, Vietnam, Indonesia and India, ACEN targets reaching a capacity of 20 GW by 2030.
