It has partnered with UPC Solar & Wind Investments and Pivot Power Management.
The Philippines’ ACEN, owned by the Ayala Garoup, has set its sight on the United States’ renewable energy market as it formed partnerships to pursue opportunities in wind power.
ACEN has partnered with UPC Solar & Wind Investments LLC (UPC) and Pivot Power Management (PPM) to look into the acquisition of operating wind projects in the US as well as explore strategies to extend its useful life.
“Our aspiration is for the US to become a priority market for ACEN outside of the Philippines over time,” Patrice Clausse, President and COO of ACEN International, said.
“This partnership will provide an exciting entry to the fast-growing US market, and we look forward to leveraging the combined expertise of ACEN and our new partners to make this a strong growth platform in the coming years.”
Aside from the acquisition, the partnership also seeks to upgrade and replace key components on target projects to optimize power generation.
“We are excited to work with the ACEN team toward our shared goal of accelerating the transition to renewable energy,” Tim Rosenzweig, CEO of PPM, said.
“This transaction will help us grow our development and operating platform in the US.”
ACEN has so far deployed more than US$200m in each of its priority markets, which includes Australia, Vietnam, and Indonesia.
The company is looking at adding renewable capacity in the US to its growing portfolio as it continues to work towards its goal of 5,000MW of capacity by 2025.