ACEN, BrightNight partner anew for RE

ACEN, the Ayala Group’s listed energy company, has partnered with US-based BrightNight for the development, construction and operation of an initial one gigawatt renewable energy portfolio in the Philippines.

ACEN said the partnership would have an estimated capital deployment of $1.2 billion over the next five years.

ACEN will be providing BrightNight additional resources to fund its Philippine projects, as well as providing domestic presence, partnership network and expertise across the regional energy value chain.

“Our collaboration with BrightNight reflects our shared ambition to develop superior, hybrid renewable energy solutions,” ACEN chief investment officer Patrice Clausse said.

ACEN plans on reaching 20 GW of renewable capacity by 2030. It has approximately 4.8 GW of renewable capacity in the Philippines, Australia, Vietnam, Indonesia and India.

This is the second partnership between the two energy firms, following a 50-50 joint venture for the development of a 1.2-GW large-scale hybrid windsolar and round-the-clock renewable power projects in India.

“(ACEN) 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,” BrightNight CEO Martin Hermann said.

“This is another successful step in our expanding relationship,” he said.

Clausse said their joint projects in India are already gaining customers and building capacity, which serves as a “solid foundation” for the new 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,” Clausse said.