01 February 2023 – ACEN, through its subsidiary, ACEN Renewables International (ACRI), today completed its previously announced acquisition of the Australia development platform.

ACRI and UPC Renewables Asia Pacific Holdings (UPCAPH) signed an Instrument of Transfer for the transfer to ACRI of UPCAPH’s remaining 4,766 ordinary shares in UPC-AC Energy Australia (HK) Limited, which completes the second and final tranche of ACRI’s acquisition of ACEN Australia.

The acquisition transforms the UPC\AC Renewables Australia joint venture into ACEN Australia, the company’s first wholly owned development and operating platform outside of the Philippines.

The acquisition results in the full ownership by ACEN of the 521 MW New England solar farm and the 520 MW Stubbo solar farm in Australia, as well as the development pipeline of ACEN Australia spanning New South Wales, Tasmania, Victoria, and South Australia.