ACEN CORP. has agreed to sell as much as a 49% stake in one other renewable energy (RE) project in India to Dutch investor Diamond India Renewables One B.V. (DIRO), expanding their partnership following an analogous transaction last month.
In a regulatory filing on Monday, Unlimited Renewables Holdings B.V. (URH), ACEN’s wholly owned subsidiary, said it had entered right into a securities sale and buy agreement with DIRO covering as much as a 49% stake in Diyos Renewables India Project Private Ltd.
“The transaction is anticipated to shut in stages, with DIRO acquiring an initial 10% voting interest in Diyos,” the corporate said.
Diyos is developing a 100-megawatt (MW) utility-scale wind project in Karnataka, India.
The transaction follows ACEN’s agreement last month to sell as much as a 49% stake in Tejorupa Renewables India Project Private Ltd. to DIRO, allowing the Dutch investor to take part in the event of a 250-MW solar project in Rajasthan.
Earlier this 12 months, an ACEN subsidiary acquired the remaining 50% voting interest in URH from UPC India Pte. Ltd., giving the Ayala-led renewable energy company full ownership of greater than 1 gigawatt (GW) of renewable energy projects in India.
URH is developing three renewable energy projects across Rajasthan and Karnataka with a combined capability of 1,059 MW.
As of end-2025, India accounted for 26% of ACEN’s net attributable capability from its international operations. The corporate operates three solar energy projects within the country with a combined capability of 1,344 MW.
ACEN had about 7 GW of attributable renewable energy capability across operational, under-construction, and committed projects within the Philippines, Australia, Vietnam, India, Indonesia, Laos, and the US as of end-2025.
Shares in ACEN rose 3.55%, or 11 centavos, to shut at P3.21 each on Monday. — Sheldeen Joy Talavera