Connect with us

Hi, what are you looking for?

Top Stories

Editor's Pick

ACEN completes acquisition of US wind project 


ACEN Corp.’s joint venture company UPC Power Solutions LLC has concluded the acquisition of the 38-megawatt (MW) Chestnut Flats wind project in Altoona, Pennsylvania, the renewable energy company announced on Wednesday.

In a stock exchange filing, the Ayala-led energy company said that UPC Power Solutions has successfully bought the leasing rights for the wind project from EDF Renewables North America.

“EDF Renewables will continue to provide asset management and operations and maintenance services,” ACEN said.

UPC Power Solutions is a joint venture involving ACEN, Pivot Power Management, and UPC Solar & Wind Investments LLC. It was established in April 2022, focusing on acquiring operating wind projects in the United States.

“The addition of this high-quality renewable asset will support our long-term strategy to build a diversified fleet of operating wind projects,” UPC Chief Executive Officer Tim Rosenzweig said.

“Our investment in Chestnut Flats will create economic opportunity and maintain jobs in the local community,” he added.

This acquisition marks ACEN’s ninth project and the second mergers and acquisitions closing in 2023.

With the latest acquisition, UPC Power Solutions’ operating renewable energy portfolio has grown to over 170 MW across multiple states in the United States.

Currently, ACEN has approximately 4,430 MW of attributable capacity spanning the Philippines, Vietnam, Indonesia, India, and Australia.

At the local bourse on Wednesday, shares in ACEN went up by four centavos or 0.97% to close at P4.18 apiece. — Sheldeen Joy Talavera

You May Also Like


As the world seeks sustainable and energy-efficient solutions for heating and cooling, the heat pump market is experiencing a significant surge. According to the...

Editor's Pick

FINANCE SECRETARY RALPH G. RECTO — DEPARTMENT OF FINANCE By Keisha B. Ta-asan, Reporter NEWLY APPOINTED Finance Secretary Ralph G. Recto took his oath as...


The introduction of aggressive climate objectives by global economies and growing prospects for reducing carbon emissions are driving the growth of the district heating...


In the dynamic automotive sector, consistent growth of the electric vehicle (EV) charging industry has become increasingly evident. Consumers and businesses alike are recognizing...

Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 Secrets Of Richdads. All Rights Reserved.