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AC Energy, UPC to jointly develop 1GW of renewable capacity
The joint venture will first target India, South Korea and Taiwan.
UPC Solar Asia Pacific and AC Energy formed a new venture, UPC-AC Energy Solar, to develop a 1GW renewable portfolio for the next few years in the Asia Pacific region, the company announced.
With a $27.4m investment from AC energy, the joint venture plans to operate solar projects, initially targeting construction in India, South Korea and Taiwan.
AC Energy’s goal is to exceed 5,000MW capacity by 2025, with at least 50% to be sourced from renewables, according to AC Energy’s chief operating advisor, Patrice Clausse.
The two companies previously invested in a 75MW wind farm in Indonesia in January 2017.
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