ACEN, Norwegian firm eye floating solar parks
Ayala-led ACEN Corp. is doubling down on its expansion efforts through a new deal with a Norwegian firm for the deployment of large-scale floating solar farms.
ACEN-Silverwolf Pte. Ltd. and Ocean Sun AS signed a nonbinding memorandum of understanding (MoU) on the rollout of floating solar technology across Asia.
ACEN-Silverwolf Pte. is a joint venture between ACEN Renewables International and Silverwolf Capital Ltd.
Under the memo, Ocean Sun would provide its patented technology and maritime expertise while ACEN-Silverwolf would provide its deep experience in the renewable energy industry.
The floating solar installations would focus on freshwater reservoirs and inland water bodies.
“Ocean Sun brings a floating solar technology that has been developed and refined over many years, with a clear focus on robustness and suitability for freshwater installations,” said Kelvin Yuen, chair of ACEN-Silverwolf.
“For ACEN-Silverwolf, this is an important consideration as we assess technologies that can be deployed at scale across our portfolio, and the MoU provides a structured way to support and deploy Ocean Sun’s technology in that context,” he added.
Ocean Sun is targeting to become the top technology provider of floating solar. It is active in Norway, Singapore and China.
ACEN-Silverwolf, meanwhile, operates more than 100 megawatts (MW) of commercial and industrial renewable energy assets across China, Hong Kong, Malaysia, Thailand and Singapore.
The entire ACEN group has 7,000 MW of attributable renewable energy capacity.
With about P80 billion in capital expenditures for 2026, ACEN is not slowing down on its expansion in the Philippines and abroad.
For the first quarter 2026, the company reported that its consolidated net income climbed by 50 percent to P2.9 billion from the P1.9 billion posted a year earlier.
ACEN’s top line likewise improved by 42 percent to P10.73 billion from P7.55 billion.
