ACEN India, a subsidiary of the Philippines-based renewable energy company ACEN Renewables International, has raised ₹7.52 billion (~$80.15 million) from Mitsubishi UFJ Financial Group and Sumitomo Mitsui Banking Corporation for its 100-MW wind power project in Bijapur, Karnataka.

The company has signed the power purchase agreement (PPA) for the project with SJVN.

The project, expected to be commissioned in 2027, will generate around 330 million units of clean energy annually.

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

Since entering the Indian market in 2019, ACEN has established two partnerships, including one with UPC Renewables and another with Yanara (formerly BrightNight India). Together, these platforms represent a renewable energy portfolio of over 2.1 GW, including 630 MW already operational, with a pipeline of projects under development across Rajasthan, Karnataka, Gujarat, Maharashtra, and Madhya Pradesh.

Last month, ACEN Renewables International consolidated its joint venture with UPC Renewables, taking 100% ownership. 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.

ACEN has a total renewable capacity of 7 GW in India.

In its near-term pipeline, the company is developing a 420 MW solar project, along with two firm and dispatchable renewable energy (FDRE) projects in Rajasthan with a combined capacity of 806 MW, and a 120 MW wind project in Karnataka. These projects have already secured PPAs with central agencies, including the Solar Energy Corporation of India, SJVN, NHPC (for 120 MW FDRE), and NTPC (for 110 MW FDRE).

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.