A significant shift has occurred in the Indian renewable energy landscape. Ayala-led ACEN Corp. has solidified its presence, gaining complete control over its Indian operations through a strategic acquisition.
The move involved ACEN Renewables International Pte. Ltd. acquiring the remaining stake from UPC India Pte. Ltd. in their joint venture, Unlimited Renewables Holdings B.V. This acquisition unlocks full ownership of a rapidly expanding portfolio within a key global clean energy market.
The transaction centered around 2,724 common shares, representing the 50% of Unlimited Renewables Holdings B.V. previously held by UPC India. This transfer of ownership immediately grants ACEN Renewables International complete authority over a substantial and promising energy platform.
Currently, this platform encompasses over 1,059 megawatts (MW) of renewable energy projects actively under construction and nearing completion in the states of Rajasthan and Karnataka. Beyond these existing projects, a robust pipeline of nearly 7 gigawatts (GW) of future developments stretches across India.
According to ACEN International’s President and CEO, Patrice Clausse, this full ownership is a catalyst for accelerated growth. It allows for streamlined development, optimized portfolio management, and the continued delivery of clean, dependable power on a large scale.
India’s favorable policies, evolving market dynamics, and increasing demand for renewable energy sources create a uniquely fertile ground for sustained expansion. This acquisition positions ACEN to capitalize on these conditions and contribute significantly to India’s clean energy future.
