Latest news with #ACEN
Mint
27-06-2025
- Business
- Mint
Ayala, UPC Renewables JV to sell stake in 1 GW projects in $600 mn deal
New Delhi: The joint venture between the Philippines' Ayala Corporation-owned ACEN and UPC Renewables plans to sell a significant stake in its upcoming 1 gigawatt projects in India in a deal potentially valued at an enterprise value of around $600 million, said two people aware of the development. The transaction involves offloading up to 74% stake in three utility-scale renewable energy projects in India, the people said on the condition of anonymity. EY is running the sale process for the deal with an equity value of around $200 million, they said. 'The next stage involves signing of non-disclosure agreements, sharing of financial model and information memorandum, followed by management discussions and submission of non-binding offers,' one of the people quoted earlier said. 'Then the shortlisted bidders will be called to submit their binding bids.' The projects include a 420 megawatt (MW) solar project in Barmer region of Rajasthan, a 100 MW wind project in Karnataka; and a 520 MW wind and solar hybrid project to be commissioned by 2027. While ACEN has an operational 3.3 gigawatt (GW) portfolio and another 3.7 GW under development globally, UPC Renewables has 10 GW of installed capacity, with 7 GW of assets under development. Their joint venture India green energy platform—UPC Renewables India—has an operational capacity of 630 MW, comprising 420 MW Masaya Solar in Madhya Pradesh, 70 MW Paryapt Solar in Gujarat and 140 MW Sitara Solar in Rajasthan. In an emailed response, an EY spokesperson said, 'We cannot comment on company-specific matters.' Queries emailed to the spokespersons of Ayala Corp., ACEN, UPC Renewables late on Wednesday night, and UPC Renewables India on Thursday morning remained unanswered till press time. The JV platform has already started work on these upcoming projects. 'ACEN, in partnership with UPC Renewables, has commenced construction of two major renewable energy projects in India: a 420 MW solar farm in Rajasthan and a 120 MW wind farm in Karnataka,' the companies said in a statement on Wednesday. 'We are thrilled to kick off the second phase of growth for UPC India's platform with the construction of these 500 MW+ solar and wind projects. The projects are part of a broader pipeline of 1 GWp+ RE projects, which we aim to deliver over the next two years and play a meaningful role in India's green energy transition,' said Alok Nigam, CEO, UPC Renewables India, in the statement. India's green energy sector has witnessed tremendous interest, given the country's clean energy transition trajectory. The Central Electricity Authority (CEA) has projected a peak demand of 270 GW this year, up from an all-time high of 250 GW recorded on 30 May last year. India has an installed renewable energy capacity of 226.9 GW, of which solar and wind power account for 110.9 GW and 51.3 GW, respectively. India targets to add 50 GW of green energy capacity annually to reach 500 GW by 2030. However, the industry also faces emerging concerns. Solar energy tariffs fell, and power demand in India's top six industrialized states flattened in April and cooled in May. The sector also faces power transmission evacuation constraints, while states are not inking power purchase and supply agreements for awarded projects due to a drop in tariffs in the subsequent bids. In May, power exchanges observed an unprecedented market bifurcation: spot prices for electricity during solar hours plummeted to ₹ 0/unit, while non-solar peak hour prices grazed the ₹ 10/unit ceiling, according an SBI Capital Markets Ltd's May report. 'This divergence highlights an extreme case for the economic viability and practical necessity of ESS (energy storage system). Recognising this, pure solar tenders <50% of RE tenders issued in FY25, a significant decrease from 78% in FY20. However, despite over 150 GWh of BESS tenders being floated to date, only a negligible portion has reached completion.' Mint earlier reported that about renewable power capacity totalling nearly 30 GW has failed to find buyers; with a capacity of at least 15GW is yet to find PPAs, while at least 14GW is awaiting PSAs. Ratings agency Icra had said that India's power demand in FY26 may grow 5-5.5%. While it's higher than 4.2% in FY25, it would be slower than the 7-9% growth seen in the period FY22 to FY24, the period following the pandemic. Given that solar and wind are infirm sources of energy, a renewable capacity of 500 GW by 2030 without adequate storage can threaten the grid's stability in case of generation outages due to cloud cover, rain, or a drop in wind speed. The national power grid has been facing warnings due to the sudden dip in solar power generation, leading to several instances of grid frequency dropping. Any sudden change in the demand pattern impacts the grid frequency. 'On the transmission side, a long-term strategy for evacuation infrastructure is being implemented under the country's National Electric Plan. Any material delays could lead to bottlenecks and potential power curtailment,' Standard & Poor's Financial Services LLC wrote in a 4 June report. 'In renewable energy, to address the intermittency of power supply, there is a transition towards hybrid or storage-backed capacities, which facilitates scheduling of power round-the-clock with greater confidence. Of the ~75 GW capacity to be added in this and next fiscal, hybrids will account for ~37%,' wrote Crisil Ratings in a 9 June report. 'In renewables, the timely availability of evacuation infrastructure is critical. To be sure, a significant ramp-up in transmission capacity is underway with a total capital expenditure (capex) of ~ ₹ 1 lakh crore in this fiscal and next, twice of what was seen in the preceding two fiscals. These projects may face delays on account of right-of-way issues, delayed approvals or short supply of equipment such as transformers and high-voltage direct current components. Further, as renewable capacities typically take much less time to be set up, transmission capacity may fall short temporarily,' Crisil said. Then there is the question of huge funding requirements in India's green energy transition. 'India will require an estimated US$1.3 trillion in cumulative clean power investment by 2035 to meet its 2070 net-zero target. In 2024, renewables investment rose by 17% to US$33 bn and is expected to grow another 12% in 2025,' Kotak Institutional Equities research wrote in a 20 June report.
GMA Network
25-06-2025
- Business
- GMA Network
Renewable firms ACEN, UPC start construction of 2 RE projects in India
Solar panels at Paryapt Solar, a joint venture between ACEN and UPC in India. Photo: Ayala-led ACEN Corporation and Singapore-headquartered UPC Renewables have broken ground on two major renewable energy projects in India that are expected to generate a combined 1,158 gigawatt hours (GWh) annually. The 420-megawatt solar farm in Barmer, Rajasthan is projected to produce 767 GWh annually, while the 120-megawatt wind farm in Karnataka is expected to deliver 391 GWh through harnessing monsoonal wind patterns and favorable terrain. The projects are slated to be completed early 2027, enough to power 241,000 homes and avoid over 876,000 tons of carbon emissions yearly. They are also expected to create over 1,500 green jobs during construction. 'These new projects represent not just scale, but momentum—as we continue to turn opportunities into action,' ACEN International chief executive officer and group chief investment officer Patrice Clausse said in a statement. The new projects will be on top of joint partnerships between ACEN and UPC in India: the 420-megawatt Masaya Solar, the 70-megawatt Paryapt Solar, and the 140-megawatt Sitara Solar. 'The projects are part of a broader pipeline of 1 GWp+ RE projects, which we aim to deliver over the next two years and plays a meaningful role in India's green energy transition,' UPC Renewables India chief executive officer Alok Nigam said in the same statement. Aside from India and its core market of the Philippines, ACEN also has presence in Australia, Vietnam, and Lao PDR, along with investments in Indonesia and other markets. ACEN ended the first quarter of 2025 with a P2.083-billion net income, down from P2.935 billion the same quarter last year, as revenues fell to P7.767 billion from P9.853 billion amid the lower generation in the Philippine market. — Jon Viktor D. Cabuenas/BM, GMA Integrated News
Yahoo
29-05-2025
- Business
- Yahoo
Energy Transition Update - Philippines Offshore Wind Project: A Major Sustainable Energy Leap
Copenhagen Infrastructure Partners and ACEN have announced a partnership to develop the first large-scale offshore wind project in the Philippines, located near San Miguel Bay in Camarines Sur. With a potential installed capacity of up to 1 GW, this initiative marks a significant step in harnessing the country's offshore wind resources, aiming to meet growing energy demand with sustainable power. The project, supported by strategic site conditions and a strong local partnership, underscores a commitment to accelerate the energy transition in the Philippines. Currently in its pre-development stage, it awaits regulatory approvals and anticipates participation in the upcoming Department of Energy's Green Energy Auction. In other trading, was a notable mover up 9.6% and finishing the session at HK$11.64. In the meantime, lagged, down 6.3% to finish the session at $64.23. A. O. Smith is leveraging strategic expansion and operational optimizations to potentially enhance profitability despite external pressures. Discover the full narrative on how these initiatives could impact the company's financial future. For more on this topic, don't miss our Market Insights article, "Automakers Caught In The Tariff Crossfire," which explores the intricate challenges faced by automakers amid shifting markets and tariffs. Get in fast before the landscape changes. closed at $156.45 up 0.5%. ended the day at $136.02 down 1.3%, hovering around its 52-week low. This week, Chevron amended its corporate bylaws to allow officer exculpation following stockholder approval. finished trading at $356.90 down 1.7%. Reveal the 156 hidden gems, such as Bharat Heavy Electricals, Wärtsilä Oyj Abp and EMCOR Group, among our Energy Transition Stocks screener with a single click here. Interested In Other Possibilities? We've found 17 US stocks that are forecast to pay a dividend yeild of over 6% next year. See the full list for free. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sources: Simply Wall St "Copenhagen Infrastructure Partners and ACEN to team up on the Philippines' first large-scale offshore wind project" from Copenhagen Infrastructure Partners on GlobeNewswire (published 29 May 2025) Companies discussed in this article include SEHK:412 NasdaqGS:FSLR NYSE:CVX NasdaqGS:TSLA and NYSE:AOS. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
_2025_05_29_16_03_23.jpg&w=3840&q=100)
GMA Network
29-05-2025
- Business
- GMA Network
ACEN takes 25% of Camarines Sur offshore wind project
Ayala Group's listed energy platform ACEN Corp. has inked an agreement to acquire a 25% minority stake in Copenhagen Infrastructure Partners' (CIP) Camarines Sur offshore wind project, which has a potential capacity of 1 gigawatt (GW). In a regulatory filing, ACEN said it signed definitive agreements with CIP's Growth Markets Fund II for the minority stake in the project that will be located close to the coast of San Miguel Bay in Camarines Sur, with abundant wind resources and shallow water depths. 'Offshore wind is poised to play a vital role in diversifying the country's energy mix. ACEN is pleased to partner with CIP, a global leader in the offshore wind sector. We look forward to collaborating on this trailblazing initiative,' ACEN president and chief executive officer Eric Francia said. The parties did not disclose the transaction value but said the acquisition is subject to applicable regulatory approvals. The project is in its pre-development stage, in anticipation of the Department of Energy's fifth round of the Green Energy Auction. 'Together with CIP's offshore wind expertise, we believe that ACEN's experience and domestic and international track record in project execution and stakeholder management will set a strong foundation for successful development of the Camarines Sur offshore wind project, including anticipated participation in the upcoming first offshore wind auction,' CIP's Growth Markets Fund II partner Robert Helms said. 'We are also working towards the ambition of making this one of the first operational offshore wind projects in the Philippines in line with the offshore wind targets set by the current Philippine administration,' he added. Founded in 2012, CIP manages 13 funds and has raised some €32 billion for investments in energy and association infrastructure from some 180 international institutional investors, with projects in over 30 countries. ACEN ended the first quarter of 2025 with a P2.083-billion net income, down from P2.935 billion the same quarter last year, as revenues fell to P7.767 billion from P9.853 billion amid the lower generation in the Philippine market. —VBL, GMA Integrated News
Globe and Mail
29-05-2025
- Business
- Globe and Mail
Copenhagen Infrastructure Partners and ACEN to team up on the Philippines' first large-scale offshore wind project
COPENHAGEN, Denmark, May 29, 2025 (GLOBE NEWSWIRE) -- The project is set to become one of the Philippines' first offshore wind projects with a potential installed capacity of up to 1 GW, and this milestone underscores the two companies' commitment to unlocking the country's untapped offshore wind resource to accelerate the country's energy transition. Copenhagen Infrastructure Partners and its Growth Markets Fund II has sought a local partner with deep expertise in stakeholder management to advance the project. ACEN, with its strong credentials in renewable energy, brings the necessary experience to complement CIP's technological expertise. The collaboration between the two companies is poised to establish a benchmark for offshore wind in the region and unlock further potential for large-scale clean energy projects. Positioned as among the most advanced offshore wind initiatives in the country, the project, located near the coast of San Miguel Bay in Camarines Sur, leverages strategic site conditions, including abundant wind resources, shallow water depths to mitigate offshore wind challenges, and close proximity to the shore and the nearest substation. Its in-bay location also presents a lower typhoon risk, further ensuring stability in operations. The project is currently in its pre-development stage in anticipation of the Department of Energy's 5th round of the Green Energy Auction (GEA-5) and will be subject to relevant regulatory approvals. It will play a crucial role in strengthening the Luzon grid and meeting the Philippines' rising energy demand with sustainable power. Robert Helms, Partner at CIP's Growth Markets Fund II, said: 'We are delighted to enter into this landmark partnership with ACEN, one of the most experienced renewable energy developers in the Philippines. Together with CIP's offshore wind expertise, we believe that ACEN's experience and domestic and international track record in project execution and stakeholder management will set a strong foundation for the successful development of the Camarines Sur offshore wind project. This includes anticipated participation in the upcoming first offshore wind auction. We are also working towards the ambition of making our project one of the first operational offshore wind projects in the Philippines in line with the targets set by the current Philippine administration.' Eric Francia, President and CEO of ACEN, said: 'Offshore wind is poised to play a vital role in diversifying the country's energy mix. ACEN is pleased to partner with CIP, a global leader in the offshore wind sector. We look forward to collaborating on this trailblazing initiative.' About Copenhagen Infrastructure Partners Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world's largest dedicated fund manager within greenfield energy investments. The funds managed by CIP focus on investments in offshore and onshore wind, storage, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, advanced bioenergy, and Power-to-X. CIP manages 13 funds and has to date raised approximately EUR 32 billion for investments in energy and associated infrastructure from approximately 180 international institutional investors. CIP has projects in more than 30 countries and more than 2500 employees across platforms. For more information, visit About ACEN ACEN (PSE:ACEN), the Ayala group's listed energy platform, is one of the fastest-growing renewable energy platforms in Asia Pacific, with the Philippines as its core and largest market. It also has a significant presence in Australia, Vietnam, India, and Lao PDR, along with strategic investments in Indonesia and other markets. The company currently has ~7 GW of attributable renewable energy capacity spanning operational, under-construction, and committed projects. As a developer, builder, and operator, ACEN leverages its agility and collaborative approach to accelerate the energy transition. Committed to unlocking access to clean, reliable, and affordable renewable energy, the company is on track to achieve 100% renewable energy generation by 2025 and reach Net Zero greenhouse gas emissions by 2050—turning bold ambitions into real impact for businesses, communities, and indigenous groups. For further information, please contact: E-mail: media@
