BrightNight, a US-based company, has collaborated with ACEN, an Ayala Group affiliate,to advance the development, construction, and operation of BrightNight’s initial 1 GWac renewable power portfolio in the Philippines. The newly formed partnership plans to develop and construct 1 GWac of renewable energy projects in the Philippines with an estimated capital deployment of $1.2 billion over the next five years. This is BrightNight and ACEN’s second partnership and builds on the success of the one established in India in March 2023.
With approximately 4.8 GW of attributable renewable capacity across key markets such as the Philippines, Australia, Vietnam, Indonesia, and India, ACEN aims to reach 20 GW of renewable capacity by 2030. ACEN’s investment provides BrightNight with additional resources to fund its Philippines build-out and long-term growth in one of the fastest-growing markets in Asia. In addition, ACEN will provide its strong domestic presence, partnership network, and expertise across the regional energy value chain.
Earlier this month, ACEN Australia and Marubeni Asian Power Singapore signed a cooperation agreement for the joint development of a 200 MW/400 MWh (2-hour) battery energy storage system in New South Wales, Australia. The signing ceremony for the agreement took place at the Philippine Business Forum held in Melbourne, Australia, and was presented to the President of the Philippines.
