Philippine-based renewable energy company ACEN Renewables International, a subsidiary of ACEN Corporation, has consolidated its joint venture (JV) with UPC Renewables, taking 100% ownership of the JV.

Through this acquisition, ACEN will add 819 MW of renewable energy projects to its India portfolio, comprising three projects under construction and at advanced stages of development in Rajasthan and Karnataka.

The portfolio also includes a pipeline of nearly 7 GW of renewable energy projects across India.

In June 2025, ACEN, in partnership with UPC Renewables, commenced construction of a 420 MW solar project in Rajasthan and a 120 MW wind project in Karnataka.

Patrice Clausse, Group Chief Investments Officer and President and CEO at  ACEN International, said that the company views India as a core market for ACEN’s international growth.

Last year, ACEN announced achieving 100% renewable energy generation across its portfolio.

In 2025, ACEN completed and advanced 4,634 MW of solar projects, 1,957 MW of wind projects, and 304 MW of battery energy storage projects.

Last year, UPC Renewables won 100 MW in SJVN’s auction to set up a 600 MW interstate transmission system connected to wind power projects.

Across the globe, UPC Renewables has completed 80 projects and has more than 10 GW under development. UPC has operationalized 1,600 MW of solar projects and 499 MW of wind in India.

Before the acquisition, the company had 500 MW of jointly owned wind and solar projects in India and Vietnam.

In 2023, Independent power producer BrightNight and ACEN Corporation, through ACEN Renewables International and ACEN International, announced a joint partnership to develop BrightNight’s first 1.2 GW renewable energy portfolio in India, utilizing multiple technologies.

According to Mercom Capital Group’s 2025 Annual and Q4 Solar Funding and M&A Report, mergers and acquisitions activity was 17% higher YoY in 2025, with 96 corporate M&A transactions, up from 82 in 2024.