ACEN Corp. has expanded its partnership with Dutch investor Diamond India Renewables One B.V. (DIRO) by agreeing to sell up to a 49% stake in a new renewable energy project in India.
The transaction, which covers up to a 49% stake in Diyos Renewables India Project Private Ltd., is expected to close in stages, with DIRO acquiring an initial 10% voting interest in Diyos.
Diyos is developing a 100-megawatt (MW) utility-scale wind project in Karnataka, India, marking the company's entry into the wind energy sector.
The deal follows ACEN's agreement last month to sell up to a 49% stake in Tejorupa Renewables India Project Private Ltd. to DIRO, allowing the Dutch investor to participate in the development of a 250-MW solar project in Rajasthan.
Earlier this year, ACEN acquired the remaining 50% voting interest in Unlimited Renewables Holdings B.V. (URH) from UPC India Pte. Ltd., giving the company full ownership of more than 1 gigawatt (GW) of renewable energy projects in India.
URH is developing three renewable energy projects across Rajasthan and Karnataka with a combined capacity of 1,059 MW, highlighting ACEN's growing presence in the Indian renewable energy market.
As of end-2025, India accounted for 26% of ACEN's net attributable capacity from its international operations, with the company operating three solar power projects in the country with a combined capacity of 1,344 MW.
ACEN has a significant global presence, with about 7 GW of attributable renewable energy capacity across operational, under-construction, and committed projects in several countries.
Shares in ACEN rose 3.55%, or 11 centavos, to close at P3.21 each on Monday, reflecting investor confidence in the company's growth prospects.
