25-06-2025
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
