Through its joint-venture company UPC Power Solutions LLC, ACEN, a listed energy platform of the Ayala group, has signed a purchase and sale agreement with GlidePath to acquire a portfolio of eight operating wind projects in northern Texas.
This marks ACEN’s entry to the U.S. renewables market as the company expands its geographic footprint beyond the Asia Pacific region.
ACEN, through its subsidiary ACEN USA LLC, recently formed a partnership with Pivot Power Management (PivotGen) and UPC Solar & Wind Investments LLC to acquire operating wind projects in the U.S. and explore strategies for extending use through preventative maintenance and repowering.
“We are excited to announce this acquisition. We look forward to successfully repowering the portfolio so that these projects can continue to deliver clean, renewable power and provide jobs and economic opportunity in local communities,” says Tim Rosenzweig, CEO and co-founder of PivotGen.
ACEN is the listed energy platform of the Ayala Group. The company has ~4,000 MW of attributable capacity from owned facilities in the Philippines, Vietnam, Indonesia, India and Australia, with a renewable share of 98%. It is committed to transition the company’s generation portfolio to 100% renewable energy by 2025 and to become a net zero greenhouse gas emissions company by 2050.