AC Energy partners with ib vogt for solar projects in Asia

ABS-CBN News

Posted at Apr 04 2022 12:17 PM

MANILA - AC Energy on Monday said it would form a joint venture with German firm ib vogt for large-scale solar projects in Asia.

ACEN expects to invest $200 million in equity investment on top of debt funding, it said in a disclosure to the stock exchange.

The new venture aims to develop 1,000 MW in renewable capacity, "with the potential for further expansion," it added.

ACEN said they would focus on late-stage projects in Indonesia, Vietnam, Laos, Bangladesh and other countries in the region.

"We are very excited to partner with ib vogt as we set up a platform to continue building out our presence across the region together," ACEN International president and COO Patrice Clausse said. 

ACEN is the listed energy platform of Ayala Corp while Berlin-based ib vogt in energy and battery storage projects, among others. 

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