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Manila Bulletin devider Business devider ACEN, German firm gear up for 1,000MW Asian solar projects

ACEN, German firm gear up for 1,000MW Asian solar projects

Published Apr 4, 2022 04:01 pm

Ayala-led ACEN Corporation and its German partner ib vogt are gearing up for solar project installations across Asian markets that will reach aggregate capacity of 1,000 megawatts.

For that joint venture, the Ayala firm indicated that it will be infusing $200 million as equity investment while the rest of the required project funding will be bankrolled by loans.

“ib vogt and ACEN have agreed to set up a platform to fund the construction and operation of large-scale solar power plants throughout Asia, subject to applicable regulatory approvals,” the Ayala company has announced. The German partner is an EPC (engineering, procurement, and construction) company.

Under the terms of the parties’ investment pact, ACEN reiterated that it will “invest up to $200 million equity investment in addition to debt funding to accelerate the deployment of renewable energy in Asia.”

The Ayala firm said the targeted projects are already at late-stage, shovel-ready phases and these will be installed in Indonesia, Vietnam, Malaysia, Laos, Bangladesh as well as other markets in the region.

“The majority of projects will stem from ib vogt’s Asia development pipeline of more than 5,000 MW with initial projects planned to go into construction during 2022,” ACEN stated.

Anton Milner, chief executive officer of ib vogt, asserted that their company is “enthusiastic to be working with ACEN and are convinced that the combination of the unique skillsets and strengths of both parties will accelerate our ability to impact on the transition to clean, sustainable energy in Asia.”

He specified that their investment partnership “will complement our global strategy of developing a diversified portfolio of high quality IPP (independent power producer) assets.”

Additionally, ACEN International President and COO Patrice Clausse cited the strong history that the Ayala energy company has so far established in project development as well as in “partnering with best-in-class energy developers to build renewable energy projects across the Asia Pacific region.”

Clausse primarily noted that ib vogt's proven track record of developing solar projects across Europe, Asia, and North Africa, has ignited the Ayala group’s excitement “to partner with ib vogt as we set up a platform to continue building out our presence across the region.”

Related Tags

#ACEN #IBVOGT #SOLAR #ASIANMARKETS #RE #JV
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