BrightNight, a US based renewable energy company, has secured the partnership of ACEN from the Philippines to bring online its 1.2 GW existing development portfolio of hybrid solar, wind and energy storage projects and round-the-clock renewable energy projects in India.
The listed energy platform of Philippines' Ayala Group, ACEN will support the accelerated buildout of the BrightNight portfolio through its subsidiaries ACEN Renewables and ACEN International.
Among BrightNight's 1.2 GW projects is a 'differentiated' co-located wind-solar project in Maharashtra with an annual production capacity of 100 MW. This Optima project will be located in Maharashtra's Osmanabad district, targeted to meet commercial and industrial (C&I) power demands. Grid connectivity clearance is already in and BrightNight expects to bring it online by Q1/2024.
Projects in the partnership with ACEN will use storage technologies to operate round-the-clock and meet specific load or generation pattern requirements high quality utility or corporate and industrial offtakers, ACEN stated.
The Filipino company will also bring in its $250 million equity plus performance guarantees to support BrightNight's existing portfolio and future growth. BrightNight touts a development portfolio of 23 GW across the US and Asia Pacific including India, Australia, the Philippines and Bangladesh.
In India, ACEN already owns a portfolio of 630 MW DC/450 MW AC solar power projects that are either operational or under construction. "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," said ACEN International CEO Patrice Clausse.
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