Ayala Group's ACEN and its Partners Acquired the 38 MW Wind Project in the US

The acquisition deal between ACEN Corporation and its partners PivotGen and UPC Solar & Wind Investments has been completed, according to UPC Power Solutions, a joint venture between these three companies. The purchase of the lessee interests in the 38 MW Chestnut Flats functioning wind project, which is close to Altoona, Pennsylvania, is included in the closure of this arrangement. EDF Renewables will keep offering its operations, maintenance, and asset management services.

UPC Power Solutions, which was founded in April 2022, is concentrated on acquiring wind projects that are currently in operation in the United States and exploring ways of increasing usable life and improving performance through additional investment and preventative maintenance.

“The addition of this high-quality renewable asset will support our long-term strategy to build a diversified fleet of operating wind projects. Our investment in Chestnut Flats will create economic opportunity and maintain jobs in the local community,” said Tim Rosenzweig, chief executive officer of UPC Power Solutions.

With this transaction, UPC Power Solutions' operating portfolio has expanded to approximately 170 MW of renewable power generation across numerous US states. It is the company's ninth project and second M&A closing in 2023.
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The Ayala Group's energy platform, ACEN Corporation, is listed on the Philippine Stock Exchange (PSE). With an impressive 98% renewable share, the corporation has about 4,500 MW of attributable capacity from owned plants in the Philippines, Australia, Vietnam, Indonesia, and India. With a target of 20 GW of renewable energy capacity by 2030, ACEN hopes to become the biggest listed renewables platform in Southeast Asia. ACEN has made a commitment to become a net-zero greenhouse gas emissions company by 2050 and to switch to 100% renewable energy in its generation portfolio by 2025.

The US-based company PivotGen develops solar and wind energy installations. PivotGen revitalizes outdated plants with repowering and refurbishment techniques while also developing new renewable energy-producing projects with an emphasis on innovative issue solutions.

UPCSWI is the primary investment firm of Brian E. Caffyn, a trailblazer in the field of renewable energy development. As the Chairman and major investor of the UPC Renewables Group of Companies, Brian has managed the development of wind and solar projects throughout several regions, including the US, Canada, Europe, China, the Philippines, Australia, India, Vietnam, and Indonesia. With 90 projects, 5.5 GW of installed capacity, and more than +10 GW of development projects in the queue, Brian has over 28 years of experience directing the UPC Renewables Group's development of utility-scale energy projects.