ACEN nears completion of $13M solar project in Malaysia

Ayala-led ACEN Renewables International Pte. Ltd. (ACRI) and its joint venture partner ib vogt Pte. Ltd. are nearing the completion of their $13 million investment in 80 MW solar projects in Malaysia.

The joint venture firm, IBV ACEN Renewables Asia, disclosed to the Philippine Stock Exchange on Wednesday that it is finalizing an equity contribution as part of a broader plan to deploy up to $200 million in renewable energy investments across Asia.

IBV ACEN aims to achieve a minimum operational capacity of 1,000 MW of renewable energy across the Asia-Pacific region and has plans for potential future expansion.

The partnership began in April 2022, focusing on developing large-scale solar power plants in countries such as Indonesia, Vietnam, Malaysia, Laos, and Bangladesh.

Last year, IBV ACEN Renewables acquired a 49 percent stake in Sonagazi Sun Holdings Pte. Ltd., managing a 70 MW solar project in Bangladesh.

ACEN continues to expand its renewable energy portfolio outside the Philippines with a total of 6.8 gigawatts of attributable renewables capacity across various locations including Australia, Vietnam, Indonesia, Laos, and the United States.