IBV ACEN Renewables Asia Pte. Ltd., a joint venture firm between ACEN and Singapore-based ib vogt (Singapore) Pte. Ltd. announced that it is in the final stages of securing a $13 million investment in multiple solar photovoltaic (PV) projects in Malaysia, totaling approximately 80 megawatts (MW).
In a regulatory filing, ACEN said that this investment is part of the broader commitment of up to $200 million in equity funding for the joint venture as it aims to achieve at least 1,000 MW of operational capacity across the Asia-Pacific region, with potential for further expansion.
ACEN previously disclosed the firm’s formation on October 24, 2024. It has teamed up with ib vogt Singapore to accelerate the expansion of large-scale solar power projects across Asia.
Their joint venture is set to tap into high-potential markets like Bangladesh, Laos, Cambodia, Vietnam, Indonesia, and Malaysia, aiming to bring at least 1,000 MW of solar capacity online.
The company continues to strengthen its renewable energy portfolio, positioning itself as a key player in the region’s transition to clean energy.
Stay updated on ACEN’s growing renewable energy investments as it expands its footprint across Asia by tuning in to Power Philippines.
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