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Monday, March 20, 2023

Philippines: A sum of two hundred and fifty million dollars has been allocated for the purpose of investing in India’s renewable energy sector. This substantial financial commitment is expected to catalyze the growth of the nation’s burgeoning green energy industry, providing a much-needed boost to the country’s economy.

Ayala conglomerate’s renewable energy company ACEN told the Philippine stock exchange on the 13th that it will invest $250 million in India’s renewable energy business expansion in partnership with US company Bright Knight. A subsidiary of ACEN will support a renewable energy development project with a total power generation capacity of 1.2 GW, including a combined wind and solar power generation facility (maximum power generation capacity of 100 MW) planned by Bright Knight in Maharashtra. ACEN already owns a solar power plant in India as a joint venture. In addition to the United States, Bright Knight is planning a total of 23 GW of renewable energy development projects in the Asia-Pacific region, including India, Australia, the Philippines, and Bangladesh. (14th, Star)

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