Acen seeks US energy regulator OK for purchase of Texas plants

ACEN Corp. has sought approval from the US Federal Energy Regulatory Commission (FERC) of the firm’s acquisition of eight operating wind power projects in Texas, United States of America.

Last March, ACEN signed a purchase and sale agreement through its joint-venture company, UPC Power Solutions LLC, with US-based energy company GlidePath Power Solutions LLC to acquire 136 megawatts (MW) of wind assets.

The acquisition has been cleared by the FERC.

ACEN told the stock exchange last Monday that the US FERC authorized on June 1, 2023, ACEN’s acquisition, through its joint-venture company, UPC Power Solutions LLC, of a total of 136 MW of wind assets from GlidePath Power.

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.

“With the FERC approval, UPC Power and GlidePath will proceed to complete the acquisition pursuant to their purchase and sale agreement,” ACEN said.

The projects are expected to generate approximately 360 gigawatt hours of wind energy annually—enough to power around 24,000 households and avoid 127,000 metric tons of carbon dioxide emissions.

ACEN is the listed energy platform of the Ayala group. It has 4,000 MW of attributable capacity from owned facilities in the Philippines, Vietnam, Indonesia, India and Australia.