AYALA-LED ACEN Corp. and Singapore-based UPC Renewables have started building two large renewable energy (RE) projects in India with a total capacity of 540 megawatts (MW), which are scheduled for completion by early 2027.
In a media release on Wednesday, ACEN said it had broken ground with UPC Renewables on a 420-megawatt-peak (MWp) solar farm in Rajasthan and a 120-MW wind farm in Karnataka.
The projects are expected to generate a combined 1,158 gigawatt-hours (GWh) of clean electricity annually — enough to power around 241,000 homes and avoid more than 876,000 tons of carbon emissions per year.
The 420-MWp solar farm is projected to generate 767 GWh annually, while the 120-MW wind farm is expected to deliver 391 GWh of renewable energy per year.
“These new projects represent not just scale, but momentum — as we continue to turn opportunities into action. Our enduring partnership with UPC Renewables has been instrumental in enabling disciplined capital deployment across high-potential markets like India,” ACEN International Chief Executive Officer and Group Chief Investment Officer Patrice Clausse said.
Brian Caffyn, chairman and group chief executive officer of UPC Renewables, said the launch of the projects “marks another important milestone in our expansion across Asia-Pacific.”
“Following the successful deployment of 630 MWp of solar capacity in India, this next phase further strengthens our trusted partnership with ACEN and the excellent team in India driving this vision forward,” he said.
The new projects build on ACEN and UPC Renewables’ existing portfolio in India, which includes three operational assets: the 420-MW Masaya Solar, 70-MW Paryapt Solar, and 140-MW Sitara Solar.
UPC Renewables India Chief Executive Officer Alok Nigam said the two projects form part of a broader pipeline of over 1 gigawatt-peak (GWp) of renewable energy projects that are expected to be delivered within the next two years.
“We are thrilled to kick off the second phase of growth for UPC India’s platform with the construction of these 500-MW-plus solar and wind projects. The projects are part of a broader pipeline of 1-GWp-plus RE projects, which we aim to deliver over the next two years and plays a meaningful role in India’s green energy transition,” Mr. Nigam said.
UPC Renewables has been developing utility-scale wind and solar farms across multiple countries since 1994. Companies formed by UPC have built and operated 80 projects with 10 gigawatts of installed capacity and $12 billion in capital invested.
ACEN, the listed energy platform of the Ayala group, currently has 7 GW of attributable renewable energy capacity across operational, under-construction, and committed projects.
The company has expanded its renewable energy footprint outside the Philippines to Australia, India, Indonesia, Vietnam, Lao PDR, and the United States. — Sheldeen Joy Talavera
