ACEN and UPC Renewables break ground on over 500 MW of new renewable energy projects in India

PRNewswire

Makati City [Philippines], June 26: ACEN, in partnership with UPC Renewables, has commenced construction of two major renewable energy projects in India: a 420 MW solar farm in Rajasthan and a 120 MW wind farm in Karnataka. These new developments mark a significant step forward in ACEN and UPC's strategic expansion into one of the world's fastest-growing clean energy markets.

Slated for completion by early 2027, the projects are expected to generate a combined 1,158 GWh of clean electricity annually, enough to power around 241,000 homes and avoid over 876,000 tons of carbon emissions each year.

Located in the high-irradiance Barmer region of Rajasthan, the 420 MW solar farm is projected to produce 767 GWh annually. In Karnataka, the 120 MW wind farm will harness strong monsoonal wind patterns and favorable terrain to deliver 391 GWh of renewable energy annually.

Together, the projects will also create over 1,500 green jobs during the construction phase, contributing to local employment and economic development.

Patrice Clausse, ACEN International CEO and group chief investment officer, said: "These new projects represent not just scale, but momentum--as we continue to turn opportunities into action. Our enduring partnership with UPC Renewables has been instrumental in enabling disciplined capital deployment across high-potential markets like India."

Brian Caffyn, chairman and group CEO of UPC Renewables, said: "Since 1994, UPC has been at the forefront of delivering renewable energy projects across multiple jurisdictions. The commencement of these new projects marks another important milestone in our expansion across Asia-Pacific, reinforcing our commitment to scalable and sustainable energy solutions. Following the successful deployment of 630 MWp of solar capacity in India, this next phase further strengthens our trusted partnership with ACEN and the excellent team in India driving this vision forward."

"We are thrilled to kick off the second phase of growth for UPC India's platform with the construction of these 500 MW solar and wind projects. The projects are part of a broader pipeline of 1 GWp RE projects, which we aim to deliver over the next two years and plays a meaningful role in India's green energy transition," added Alok Nigam, CEO, UPC Renewables India.

These new projects build on the momentum of ACEN and UPC Renewables' joint efforts in India, which already includes three operational assets: the 420 MW Masaya Solar, 70 MW Paryapt Solar and 140 MW Sitara Solar.

About ACEN

ACEN (PSE:ACEN), the Ayala group's listed energy platform, is one of the fastest-growing renewable energy platforms in Asia Pacific, with the Philippines as its core and largest market. It also has a significant presence in Australia, Vietnam, India, and Lao PDR, along with strategic investments in Indonesia and other markets. The company currently has Rs 7 GW of attributable renewable energy capacity spanning operational, under-construction, and committed projects.

As a developer, builder, and operator, ACEN leverages its agility and collaborative approach to accelerate the energy transition. Committed to unlocking access to clean, reliable, and affordable renewable energy, the company is on track to achieve 100% renewable energy generation by 2025 and reach Net Zero greenhouse gas emissions by 2050--turning bold ambitions into real impact for businesses, communities, and indigenous groups.

www.acenrenewables.com

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