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ACEN India Achieves Financial Closure for 100 MW Wind Project in Karnataka

ACEN India has secured Rs 751.70 crore in long-term project financing for its 100 MW wind power project in Bijapur, marking a key step toward the project’s development.

The funding has been arranged through Mitsubishi UFJ Financial Group (MUFG) and Sumitomo Mitsui Banking Corporation (SMBC), enabling the project to reach financial closure and move forward toward construction.

Power Supply and Project Timeline

According to the company, the wind project has a Power Purchase Agreement (PPA) in place with SJVN, which will procure the electricity generated by the facility for its captive use.

The project is expected to be commissioned in 2027 and is projected to generate approximately 330 million units of clean electricity annually. Once operational, it is estimated to reduce carbon dioxide emissions by more than 250,000 tonnes each year, contributing to India’s renewable energy transition.

Strategic Expansion in India

ACEN has also been strengthening its presence in the Indian renewable energy market. Recently, the company, through its subsidiary ACEN Renewables International Pte. Ltd., completed the consolidation of its joint venture with UPC Renewables in India.

Following this move, ACEN now fully owns the development platform, gaining control of a diversified renewable energy portfolio of 1,059 MWdc (819 MWac). This portfolio includes three renewable energy projects currently under construction or in advanced development across Rajasthan and Karnataka.

Future Renewable Energy Pipeline

Beyond its operational and under-development assets, ACEN also maintains a project pipeline of nearly 7 GW of renewable energy capacity across India. The newly financed wind project in Karnataka represents another milestone in the company’s strategy to expand its footprint in the country’s rapidly growing clean energy sector.