ACEN Corp. signed a second partnership with BrightNight APAC B.V. to advance the development, construction and operation of the latter’s initial 1 gigawatt of renewable power portfolio in the Philippines.
The newly-formed partnership plans to develop and construct renewable energy projects with an estimated capital deployment of $1.2 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.
ACEN said in a statement the 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.
ACEN will also provide its strong domestic presence, partnership network and expertise across the regional energy value chain.
ACEN Group chief investment officer Patrice Clausse said the collaboration with BrightNight reflects the company’s 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,” Clausse said.
“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,” he said.
ACEN said it is steadfast in its mission to reach 20 GW of renewable capacity by 2030 with its 4.8 GW of attributable renewable capacity across key markets such as the Philippines, Australia, Vietnam, Indonesia and India.