- Joint venture company acquiring a total of 136 MW of wind assets from US-based GlidePath Power Solutions LLC
- Strong growth US platform leveraging the combined expertise of ACEN and its partners: Pivot Power Management and UPC Solar & Wind Investments
- Will generate approximately 360 GWh of wind energy per year, enough to power around 24,000 households and avoid ~127,000 metric tons of CO2 emissions
16 March 2023 – ACEN, the listed energy platform of the Ayala group, through its joint-venture company, UPC Power Solutions LLC, signed a Purchase and Sale Agreement with GlidePath for the acquisition of a portfolio of eight operating wind projects located in northern Texas, USA.
The latest milestone marks ACEN’s anticipated entry to the fast-growing US renewables market as it expands its geographic footprint beyond the Asia Pacific region.
Announced in April 2022, ACEN, through its subsidiary ACEN USA LLC, formed a strategic partnership with Pivot Power Management (PivotGen) and UPC Solar & Wind Investments LLC to pursue opportunities to acquire operating wind projects in the US, and explore strategies for extending their useful life through preventative maintenance and repowering. The partners share the same vision of building a sustainable energy future with the aim to maximize economic impact while providing environmental benefits for all stakeholders.
Patrice Clausse, CEO of ACEN International, said: “We’ve long set our sights on the US as our next market following our sustained success in the Asia Pacific. We are committed to enact the accelerated green energy transition globally, and these new partnerships ensure that ACEN is well-placed to harness the vast opportunities in the US renewables space.”
Tim Rosenzweig, CEO, and co-founder of PivotGen, said: “We are excited to announce this acquisition. We look forward to successfully repowering the portfolio so that these projects can continue to deliver clean, renewable power and provide jobs and economic opportunity in local communities.”
This sale will be subject to regulatory approvals including the Federal Energy Regulatory Commission (FERC), an independent agency that regulates the interstate transmission of electricity, natural gas, and oil.