AC Energy lines up first major investment in India with 140MWp solar farm

Facebook
Twitter
LinkedIn
Reddit
Email
The farm will be constructed in Rajasthan and is expected to start generation in Q1 2021.

AC Energy has announced plans to develop a 140MWp solar plant in India through UPC-AC Energy Solar, the company’s joint venture with UPC Solar Asia Pacific.

The estimated US$68 million Sitara Solar facility represents AC Energy’s first major investment in India. The farm will be constructed in the desert state of Rajasthan and is expected to start power generation in the first quarter of 2021, supplying energy to the Solar Energy Corporation of India (SECI).

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

AC Energy, the energy arm of Philippine conglomerate Ayala Corporation, lauded India’s clean energy expansion programmes; the country has a target of 175GW renewables capacity by 2022, including 100GW from solar.

“India is one of the world’s largest and fastest-growing markets for renewable energy,” said Eric Francia, AC Energy CEO. “We look forward to participating in this market as we continue to expand around the region, and work towards our goal of reaching 5000MW of renewables by 2025.”

UPC-AC Energy Solar is a 50:50 joint venture between AC Energy (through AC Renewables International), and UPC Renewables (through UPC Solar Asia Pacific) for the development, construction and operation of solar projects in Asia-Pacific.

Pranab Kumar Sarmah, CEO of UPC-AC Energy Solar and co-founder of UPC Solar Asia Pacific, said Sitara Solar forms part of the joint venture’s target of achieving more than 1GW of operational solar projects across Asia in a few years.

“This project is expected to reduce 2.4 million tonnes of CO2 in its life-cycle,” he added. “This is our humble contribution to help India reach its renewable energy goal.”

The development, which will see AC Energy bolster its total renewables capacity to over 1.2GW, comes after the firm secured US$410 million in funds raised through a green bond structure in 2019.

Later in the year, it went on to complete what was then the largest solar installation in Southeast Asia through a multi-project collaboration in Vietnam.

AC Energy aims to exceed 5GW of renewables capacity and generate at least 50% energy output from renewables by 2025. In 2019, its power portfolio registered an attributable capacity of more than 1.8GW in operation and under construction.

Read Next

August 29, 2025
US grid interconnection agreements grew by 33% in 2024, reaching 75GW, with three-quarters signed for solar PV and battery energy storage system (BESS) projects, according to a new report from energy market analyst Wood Mackenzie.
August 29, 2025
Meridian Energy and Nova Energy have established a JV to build and operate a 400MW solar plant in Rangitaiki near Taupo in New Zealand.
August 28, 2025
Indian solar manufacturing firm INA Solar has broken ground on its fourth 4.5GW cell production plant in Narmadapuram, Madhya Pradesh.
August 28, 2025
Boviet Solar has completed exterior construction work on its 3GW PV cell manufacturing facility in Greenville, Pitt County, North Carolina. 
August 28, 2025
Developer Pacific Energy has successfully commissioned a 26MW solar-plus-storage site at the Atlas-Campaspe mine in NSW, Australia.
August 27, 2025
Independent power producer RP Global is building a 50MWp solar project in Harbke, Germany.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines