ACEN has secured financing for its wind project in India, marking another step in the company’s international expansion of renewable investments overseas.

The Ayala-led energy company said it obtained a INR 7.517 billion (PHP 4.803 billion) green term loan from Mitsubishi UFJ Financial Group (MUFG) and Sumitomo Mitsui Banking Corporation (SMBC) to support the development of the Bijapur Wind project in Karnataka.

The financing of which will partially fund the 100-megawatt (MW) Phase 1 of the project, which will supply renewable energy under a Power Purchase Agreement (PPA) with SJVN Limited, a government-owned firm under India’s Ministry of Power.

Once operational in 2027, the project is expected to generate around 330 million kilowatt-hours (kWh) of clean energy annually, while also avoiding approximately 300,000 tonnes of carbon dioxide emissions.

Patrice Clausse, Group Chief Investment Officer and President and CEO of ACEN International, said: “Securing this project finance facility underscores the strong confidence of global financial institutions in ACEN’s renewable energy platform and our disciplined approach to developing high-quality projects. The Bijapur Wind project strengthens our growing presence in India and contributes to the country’s accelerating transition to cleaner power systems.”

“This financing supports the continued build-out of our renewable energy portfolio in India, a key market for ACEN’s long-term growth. The Bijapur Wind project reflects our focus on delivering scalable, high-quality projects that contribute to India’s clean energy transition while creating sustained value on the ground,” Alok Nigam, CEO of ACEN’s India platform, added.

The project forms part of India’s broader push to reach 500 gigawatts (GW) of renewable energy capacity by 2030, as the country continues its shift toward greener power sources.

ACEN currently has around 7 GW of attributable renewable energy capacity across projects in operation, under construction, and with signed agreements, spanning markets such as the Philippines, India, Vietnam, and Australia.

With the Bijapur Wind project expected to be completed by 2027, ACEN continues to build out its global renewable energy portfolio as part of its long-term growth strategy.

What does ACEN’s continued expansion in overseas renewable projects signal for the future of Philippine energy companies?

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