BrightNight, a US-based company, has collaborated with ACEN, an Ayala Group affiliate for setting up a 1 GWac renewable power portfolio in the Philippines. An estimated capital deployment of $1.2 billion is planned over the next five years. This is the second such collaboration between BrightNight and ACEN and follows the one established in India in March 2023. The two companies had formed a 50-50 partnership for setting up 1.2 GW large-scale hybrid wind-solar and round-the-clock renewable power projects in India in 2023.
This partnership with ACEN provides BrightNight additional investment to expand its presence in the rapidly growing Philippines market. Further, ACEN is a leading renewable energy player in the country, and BrightNight will benefit from the former’s experience, strong domestic presence and established networks.
ACEN aims to achieve 20 GW of renewable capacity by 2030 and has 4.8 GW of renewables capacity spread across various markets like the Philippines, Australia, Vietnam, Indonesia, and India. The company is also exploring energy storage in a massive way and 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.
REGlobal’s Views: BrightNight, which is a US-based company, is setting its sights on key renewable energy markets abroad like Australia, India, Bangladesh and the Philippines. The company is interestingly focusing on a mix of clients and business models including utilities as well as corporates to expand its reach. Further, the company is not just exploring standalone wind or solar but hybrid projects with storage as well in order to provide quality firm renewable power to its customers, which places it at par with some of its larger competitors in these markets.
