ACEN has gained complete ownership of its joint venture (JV) with UPC Renewables in India through its subsidiary, ACEN Renewables International.
The strategic acquisition consolidates ACEN's renewable energy platform in India, providing the company with full control of a 1,059MW-direct current portfolio.
This portfolio includes three renewable projects currently under construction and in advanced development stages in Rajasthan and Karnataka, along with a pipeline of nearly 7GW of potential projects in the country.
ACEN International Group chief investment officer, and president and CEO Patrice Clausse said: “India is a core market for ACEN’s international growth, and this transaction reflects our long-term confidence in the country’s renewable energy sector. With full ownership of this platform, we are well positioned to accelerate development, optimise our portfolio and continue delivering clean, reliable power at scale.
“India’s strong policy support, maturing market structures, and growing demand for renewables provide a solid foundation for sustainable growth.”
The acquisition is expected to strengthen ACEN's position in the country’s growing energy sector, which is supported by favourable market conditions and government-backed initiatives.
India aims to achieve 500GW of renewable energy capacity by 2030. This target is bolstered by annual capacity tenders amounting to approximately 50GW, facilitated by government intermediaries such as SECI, SJVN, NHPC and NTPC.
The tenders provide developers with long-term offtake contracts backed by the Indian Government for 25 years.
ACEN's partnership with UPC Renewables extends to the Philippines, Indonesia, Vietnam and Australia.
The latest acquisition underscores the long-standing partnership between the two companies and highlights the progress made in developing the Indian platform.
The consolidation of its Indian assets aligns with ACEN's broader strategy to expand its renewable energy footprint across key markets in the Asia-Pacific region.
In July 2025, ACEN and UPC Renewables announced the development of two clean energy projects in India with a total capacity of 540MW: a 420MW solar farm in Rajasthan and a 120MW wind farm in Karnataka.
