ACEN, the Ayala Group’s publicly listed energy firm, has joined forces with US-based BrightNight to spearhead the development, construction, and operation of an initial one-gigawatt (GW) renewable energy portfolio in the Philippines.
The collaboration between ACEN and BrightNight is expected to involve a capital outlay of around $1.2 billion within the next five years.
Per a Philippine Star report, ACEN will furnish BrightNight with additional financial resources for its Philippine undertakings, along with leveraging its local presence, partnership network, and expertise in the regional energy landscape.
ACEN’s Chief Investment Officer Patrice Clausse cited the partnership as a testament to both company’s mutual commitment to creating advanced, hybrid renewable energy solutions.
The Ayala-led company aims to achieve a renewable capacity of 20 GW by 2030, with around 4.8 GW of renewable capacity spread across the Philippines, Australia, Vietnam, Indonesia, and India.
This latest collaboration marks the second venture between the two energy giants, following a 50-50 joint venture aimed at developing a 1.2-GW large-scale hybrid wind-solar and round-the-clock renewable power project in India.
BrightNight CEO Martin Hermann acknowledged ACEN’s track record in expanding and managing significant portfolios of renewable assets across the region, highlighting the substantial progress of their existing India partnership.
Clausse emphasized the success of their joining endeavors in India, citing the acquisition of customers and the augmentation of capacity, which lays a robust groundwork for their latest venture in the Philippines. She also affirmed that this move further underscores ACEN’s commitment to fulfilling their customers’ energy needs while prioritizing environmental and social stewardship.
