Philippine renewable developer enters US market to acquire, repower wind farms

Philippine-based Ayala Corp.'s renewable energy platform ACEN Corp., formerly called AC Energy Corp., has entered a strategic partnership with UPC Solar & Wind Investments LLC and Pivot Power Management to explore opportunities to acquire and repower wind projects in the U.S.

The partnership will seek to acquire operating wind projects across the U.S. and upgrade and replace key components to extend project life and optimize power generation, ACEN said in an April 26 disclosure to the Philippine Stock Exchange. The transaction is subject to customary conditions precedent to closing.

ACEN plans to add renewable capacity in the U.S. as it continues on its goal of 5,000 MW of capacity by 2025, the company said.

"Our aspiration is for the U.S, to become a priority market for ACEN outside of [the] Philippines over time," said ACEN International President and COO Patrice Clausse. "This partnership will provide an exciting entry to the fast-growing U.S. 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."

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