BrightNight, a US-based renewable power producer, has partnered with ACEN Corp., the renewable energy arm of Filipino conglomerate Ayala Corp., to develop, construct, and operate large-scale hybrid wind-solar and round-the-clock renewable power projects in India.
ACEN aims to deploy $250 million equity plus related performance guarantees to support BrightNight’s existing portfolio and future growth.
“ACEN, through its subsidiaries, ACEN Renewables International and ACEN International, will support the accelerated buildout of BrightNight’s existing development pipeline of over 1.2 GW of the differentiated wind-solar hybrid portfolio in India, including a differentiated 100 MW co-located, wind-solar project in the resource-rich state of Maharashtra,” stated ACEN.
“The hybrid projects, with calibrated use of storage technologies, will operate around the clock and focus on meeting specific load or generation pattern requirements of high-quality utility off-takers and large corporates and industrial customers.”
ACEN and its partners own 630 MW DC (450 MW AC) of operating and under-construction solar assets in India.
BrightNight brings its advanced India portfolio, experienced local team, and differentiated capabilities to develop and optimize large-scale, multi-technology hybrid renewable power plants.
BrightNight is developing a global portfolio of 23 GW across the U.S. and Asia Pacific, including India, Australia, the Philippines, and Bangladesh. In India, the BrightNight team is led by Sajay KV and Naveen Khandelwal. BrightNight’s 100 MW wind-solar project in Maharashtra is set for commissioning by March 2024.
ACEN has 4 GW of attributable capacity from owned facilities in the Philippines, Vietnam, Indonesia, India, and Australia, with a renewable share of 98%. It aspires to be the largest listed renewables platform in Southeast Asia, with a goal of reaching 20 GW in renewables capacity by 2030.
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