A subsidiary of ACEN Corp., a company led by Ayala, has joined forces with a Singaporean firm to develop solar projects in Taiwan, as part of its global expansion strategy in the renewable energy sector.
In a recent announcement on the stock exchange, ACEN revealed that its renewable energy unit, ACEN Renewables International Pte. Ltd. (ACRI), has entered into a shareholders’ agreement with Silverwolf Capital Ltd. for this project, establishing a joint venture entity named ACEN-Silverwolf Pte. Ltd.
ACEN disclosed that ACRI is planning to invest approximately $2 million as working capital for the project, with ACEN holding a 50% ownership stake in the venture.
Currently, ACEN boasts a renewable energy portfolio with a total capacity of 4.4 gigawatts (GW), of which 2.7 GW is derived from its international operations in Vietnam, Indonesia, India, and Australia.
In a related development, ACEN recently announced its collaboration with Indonesia-based PT Trisurya Mitra Bersama to establish PT Puri Prakarsa Batam, a significant player in the development of large-scale solar projects, battery energy storage systems, and green hydrogen initiatives. This joint venture will encompass the Batam, Bintan, and Karimun islands, as well as the East Nusa Tenggara province.