ACEN Corporation has consolidated its renewable energy platform in India, which has resulted in 100% ownership of the business and full control over more than 1 gigawatt (GW) of projects and a multi-gigawatt development pipeline in the country’s fast-growing clean energy market.

In a disclosure dated February 4, ACEN said the consolidation was carried out through its subsidiary ACEN Renewables International Pte. Ltd., following its acquisition of its partner’s stake in the India joint venture.

Following the transaction, ACEN now fully owns a 1,059 megawatts direct current (MWdc) diversified renewable portfolio, which is roughly equivalent to 819 megawatts alternating current (MWac). The portfolio includes projects ongoing construction and near completion located in Rajasthan and Karnataka.

The consolidation also brings under ACEN’s control a renewable energy development pipeline of nearly 7 gigawatts across the country, which enforces the company’s position in a market it considers central to its international growth strategy.

Patrice Clausse, Group Chief Investments Officer and President and CEO of ACEN International, said the move showcases the company’s confidence within the market. “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,” Clausse said.

“With full ownership of this platform, we are well positioned to accelerate development, optimize our portfolio, and continue delivering clean, reliable power at scale,” he added, pointing to India’s policy support, maturing market structures, and increasing demand for renewable energy.

ACEN said India’s renewable market is supported by its national target of 500 gigawatts of renewable energy capacity by 2030, with around 50 gigawatts of annual capacity tenders from government-owned intermediaries. These tenders allow developers to secure 25-year offtake contracts effectively backed by the country’s government.

The company also pointed to India’s established regulatory framework, growing domestic manufacturing base for renewable energy equipment, and access to long-tenor project financing as critical reasons for the consolidation.

The transaction also reinforces ACEN’s long-standing partnership with UPC Renewables. Together they have collaborated with the company on projects across the Philippines, Indonesia, Vietnam, Australia, and India. Alok Nigam, CEO of UPC Renewables India, said the platform was the direct product of their shared commitment to renewable energy development.

As Philippine energy companies look outward for growth, will full ownership of overseas renewable platforms become the preferred model for competing in the global clean energy transition?

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