- BrightNight has expanded its collaboration with ACEN to the Philippines market
- The duo will advance BrightNight’s 1 GW AC solar and storage portfolio in the country
- Through the partnership, they expect to deploy $1.2 billion capital over the next 5 years in this market
US-based renewable energy power producer BrightNight and the listed energy platform of the Ayala Group ACEN Corporation will co-develop 1 GW AC solar and storage portfolio in the Philippines.
This is the initial portfolio of BrightNight in the Asian nation which it will now develop, construct and operate with ACEN. However, the company does not specify details of the project location, the timeline or the investment.
The partnership foresees an estimated capital investment of $1.2 billion over the next 5 years. In January 2024, SPNEC launched the construction of the Terra Solar project in the country with 3.5 GW solar panels on site with 4 GWh storage capacity (see World’s ‘Largest’ Solar Project Under Construction).
Led by Michael Yamazoe in the Philippines, BrightNight says it is advancing the Philippines portfolio by deploying AI-driven design and optimization software platform PowerAlpha to build and operate large and multi-technology renewable power plants.
BrightNight counts its APAC portfolio as totaling 3 GW across India and South Asia, Australia and the Philippines. Along with the US market, its total global portfolio stands at 37 GW, it claims. Earlier this year, BrightNight raised its maiden corporate credit facility to support its 31 GW renewable energy portfolio in the US (see US Renewable Energy Company Raises $375 Million).
This partnership with ACEN follows their India collaboration announced a year back for 1.2 GW hybrid solar, wind and storage projects (see ACEN & BrightNight Announce GW-Level India Partnership).
“I am confident in our team and differentiated capabilities, and the Philippines is a market with large potential and increasing clean power needs. I am also very pleased to strengthen and expand our relationship with ACEN in the region and I look forward to leading this new energy era with such a strong partner,” said BrightNight’s APAC President and Managing Director Jerome Ortiz.
ACEN aims to grow its renewables portfolio to 20 GW by 2030, expanding it from around 4.8 GW from owned facilities at present in the Philippines, Australia, Vietnam, Indonesia and India.
