MANILA, Philippines — A unit of Ayala-led ACEN Corp. is further expanding its international footprint through the acquisition of a wind power project in the US.
ACEN International Inc. said its board of directors approved the acquisition of the 165.6-megawatt (MW) Hackberry wind project in Shackelford County, Texas.
The acquisition is still subject to finalization of commercial terms, satisfaction of agreed conditions precedent and execution of definitive documentation, according to a Monday disclosure.
UPC Power Solutions Llc, the existing US joint venture among ACEN USA, PivotGen as well as UPC Solar and Wind Investments (UPCSWI), is undertaking the acquisition and investment.
The Hackberry project, covering 10,346 acres of land in Texas, powers about 36,000 homes and saves 288,000 metric tons of carbon dioxide annually.
Skyline Renewables acquired the Hackberry project in 2018, following commercial operations that commenced 10 years before the acquisition.
According to Skyline Renewables, the wind farm operates 72 wind turbines.
PivotGen is known for developing wind and solar energy projects in the US, as well as giving “new life to older projects” by repowering and refurbishment strategies.
Meanwhile, UPCSWI is the principal investment company led by Brian Caffyn, chairman and majority investor of the UPC Renewables Group of Companies and has directed wind and solar developments in the US, Canada, Europe, China, Australia, India, Vietnam and the Philippines, among others.
ACEN earlier reported that its consolidated net income for the first quarter jumped by 34 percent to P2.7 billion from P2 billion in the same quarter in 2023.
This is due to a 49 percent increase in attributable renewable energy output to 1,590 gigawatt hours, following ACEN’s continued increase of new operating renewables capacity and a strengthened net merchant selling position at the Wholesale Electricity Spot Market in the country.
As of the end of the first quarter, the company achieved around 4.8 GW in renewable capacity, which is ahead of the slated capacity to reach five GW by 2025.
Moreover, total attributable output across ACEN’s facilities worldwide increased by 49 percent to 1,580 GWh due to production from its newly operational plants.
ACEN’s Philippine and international plants delivered 570 GWh and 1,010 GWh, respectively.