BrightNight and Acen Ink Partnership for India Renewables Buildout

BrightNight, the next-generation and global renewable power producer announced a partnership with investor Acen Corporation to construct, develop and operate a 1200MW hybrid wind and solar portfolio in India.

In a statement, the newly formed partnership said it aims to deploy USS250 million equity plus related performance guarantees. ACEN's investment will provide for an accelerated buildout of BrightNight's existing development pipeline of 1.2 GW hybrid and around-the-clock projects in India.

The BrightNight and Acen partnership plans to develop and build differentiated hybrid wind-solar projects, with a calibrated use of energy storage, that operates around the clock, with a focus to serve the specific demand from high credit-rated central and state utility as well as commercial and industrial off-takers.

BrightNight brings its advanced India portfolio, experienced local team led by Sajay KV and Naveen Khandelwal, and differentiated capabilities to develop and optimize large-scale, multi-technology hybrid renewable power plants.

While across the Asia Pacific, ACEN has established a significant presence in its core market, the Philippines, and Australia, Vietnam, Indonesia, and India with ~4,000 MW of attributable renewable capacity.  And the firm plans to be the largest listed renewables platform in Southeast Asia, with a goal of reaching 20 GW in renewables capacity by 2030.

Patrice Clausse, ACEN International CEO, said: "With this partnership, we are significantly strengthening our foothold in India's fast-growing market as we shift from pure solar play to multi-technology renewables. We look forward to working with BrightNight's highly experienced local team as our combined expertise will help India progress towards their energy transition goal and spur the global transition towards a Net Zero economy."

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