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ACEN Corp. (ACEN) and its US-based partner, BrightNight, has begun commissioning the first phase of the hybrid-renewable energy Optima Maharashtra project in India.
Located in Dharashiv, Southern Maharashtra, and spanning over 500 acres, the 153 megawatts-direct current Optima Maharashtra combines wind and solar technologies with BrightNight’s PowerAlpha software platform.
The project is expected to create approximately 300 jobs during its development phase and drive growth in the renewable energy (RE) industry.
“Our partnership with BrightNight on this project represents a significant step forward in accelerating the energy transition in India,” ACEN International CEO Patrice Clausse said.
“As a partner deeply committed to renewable energy, ACEN is proud to support this landmark project, which aligns with our shared vision of a sustainable and decarbonized future for the region.”
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ACEN in 2023 announced that it had signed a partnership with BrightNight to develop, construct and operate large-scale, hybrid wind-solar and round-the-clock RE projects in India.
The firm said that it was aiming to deploy around $250 million in equity plus related performance guarantees to support BrightNight’s portfolio and future growth, and would support the accelerated buildout of BrightNight’s existing development pipeline of over 1.2 gigawatts of hybrid RE projects in India.
“We are actively advancing our gigawatt-scale portfolio in India, where we will leverage cutting-edge technology to deliver reliable, round-the-clock, clean and sustainable power,” BrightNight Asia-Pacific CEO Jerome Ortiz said.
“Optima Maharashtra perfectly aligns with the State’s clean energy goals and India’s vision to be a net-zero carbon emitter by 2070,” he added.
ACEN’s share price slipped by 0.82 percent to P3.64 on Friday amid a 1.38-percent rise for the benchmark Philippine Stock Exchange index.
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