BrightNight, a global renewable power producer, has joined forces with Acen Corporation, an investor, to accelerate the development, construction, and operation of a 1,200 MW hybrid wind and solar portfolio in India.
The newly formed partnership plans to invest USD 250 million in equity and provide related performance guarantees.
BrightNight and Acen will work together to create and build differentiated hybrid wind-solar projects that use energy storage in a controlled manner and operate around the clock.
BrightNight announced its first 100 MW co-located, wind-solar hybrid renewable power project in Maharashtra in February 2023, with a target commissioning date by Q1/FY24, to deliver clean, high-capacity factor power to C&I customers in the state.
The projects will be designed to meet specific demands from high credit-rated central and state utilities, as well as commercial and industrial off-takers.
Acen's investment will allow BrightNight to accelerate the development of its existing pipeline of 1,200 MW hybrid projects in India.
