Almost a year to the day since announcing their first partnership in India, ACEN and BrightNight have announced plans to invest an estimated $1.8 billion (USD 1.2 billion) over the next five years to develop up to 1 GW of renewable energy projects in the Philippines.
ACEN has approximately 4.8 GW of attributable renewable capacity across the Philippines, Australia, Vietnam, Indonesia, and India and a target of 20 GW of renewable capacity by 2030.
Martin Hermann, Chief Executive Officer at BrightNight, which is developing a global portfolio of 23 GW across the U.S. and Asia Pacific, including Australia, said ACEN’s leadership in the Philippines’ renewables sector is unparalleled.
“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,” he said.
In 2023, ACEN, through its subsidiary, ACEN Renewables International, formed a 50-50 partnership with BrighNight to develop, construct, and operate approximately 1.2 GW of large-scale solar and wind projects in India.
“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,” ACEN Group Chief Investment Officer Patrice 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.”
In Australia, ACEN has more than 1 GW capacity in construction and more than 8 GW capacity in the development pipeline spanning solar, wind, battery, and pumped hydro energy storage projects.
The largest solar project in Australia to be financed on a fully merchant basis, the 400 MW first stage of New England Solar Farm in New South Wales (NSW), is ACEN’s first Australian operational project.
The 400 MW Stubbo Solar Farm being constructed in NSW in the NSW Central West Orana Renewable Energy Zone is its second project while it has four other solar projects in development (190 MW Axedale, 600 MW Birriwa, 320 MW Deeargee and 320 MW Narragamba).
BrightNight made its entry into the Australian market in 2022 and its local portfolio includes only the Mortlake Energy Hub proposed for regional Victoria. The planned project is to comprise a 350 MW solar farm and a 300 MW battery energy storage system.
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