US-based BrightNight has partnered with ACEN, a subsidiary of the Ayala Group, to develop and construct 1GW of renewable power projects in the Philippines.
The renewables portfolio will entail an investment of $1.2bn up to 2028.
Go deeper with GlobalData
ACEN’s investment into the partnership will provide BrightNight with the necessary resources to fund its Philippines build-out and support its long-term growth in the country.
BrightNight CEO Martin Hermann stated: “ACEN’s leadership in the Philippines’ renewables sector is unparalleled, and we are honoured they have chosen to form a partnership with us to develop our portfolio of multi-tech and industry-leading 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.”
See Also:
With an existing renewable capacity of 4.8GW across the Philippines, Australia, Vietnam, Indonesia and India, ACEN aims to achieve 20GW of capacity by 2030.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataACEN Group chief investment officer Patrice Clausse stated: “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.”
This collaboration marks the second partnership between the two companies, following the successful alliance to develop a 1.2GW renewables portfolio in India in March 2023.
The companies agreed to co-develop hybrid wind-solar projects complemented by energy storage facilities, aimed at supplying electricity to central and state utility companies as well as commercial and industrial off-takers.
