ACEN expands footprint in India

ACEN Corp., the listed energy arm of the Ayala Group, is strengthening its footprint in India with the construction of two major renewable energy projects.

The group and its partner UPC Renewables have begun building a 420-megawatt (MW) solar facility in Rajasthan and a 120-MW wind farm in Karnataka, a development that ACEN sees vital to further cement its presence in “one of the world’s fastest-growing clean energy markets.”

Once switched on by early 2027, ACEN said the project could generate about 1,158 gigawatt hours of clean electricity per year, which could energize 241,000 homes.

“These new projects represent not just scale, but momentum—as we continue to turn opportunities into action,” said Patrice Clausse, ACEN International chief executive officer and group chief investment officer.

“Our enduring partnership with UPC Renewables has been instrumental in enabling disciplined capital deployment across high-potential markets like India,” he added.

Meanwhile, an executive of UPC Renewables said the projects support its target of increasing its portfolio acros the Asia Pacific region.

See Also

RCBC’s P3-B ‘green’ bonds offer 6% yield

“The projects are part of a broader pipeline of 1 gigawatt (GW) peak of renewable energy projects, which we aim to deliver over the next two years and plays a meaningful role in India’s green energy transition,” said Alok Nigam, chief executive officer of UPC Renewables India.

Currently, both groups are operating three energy assets in India: the 420 MW Masaya Solar, 70 MW Paryapt Solar, and 140 MW Sitara Solar.