ACEN to Sell Up to 49% Stake in 100 MW Karnataka Wind Project to DIRO

ACEN Corp. has signed an agreement to sell up to a 49% stake in its 100 MW wind power project in Karnataka, India, to Dutch investor Diamond India Renewables One B.V. (DIRO), further taking the partnership between the two companies after a similar deal announced last month. The transaction will be executed through Unlimited Renewables Holdings B.V. (URH), ACEN's wholly owned subsidiary, according to a regulatory filing. Initial 10% Stake to Be Acquired First Under the securities sale and purchase agreement, DIRO will acquire up to a 49% equity interest in Diyos Renewables India Project Private Ltd., the company developing the wind project. The acquisition will be completed in phases, beginning with DIRO purchasing an initial 10% voting stake in Diyos. Financial details of the transaction were not disclosed. The Karnataka-based project will add 100 MW of utility-scale wind generation capacity to ACEN's growing renewable energy portfolio in India. Partnership Expands After Rajasthan Solar Deal The latest agreement builds on an earlier transaction announced last month, under which ACEN agreed to divest up to a 49% stake in Tejorupa Renewables India Project Private Ltd. to DIRO. That investment enables the Dutch investor to participate in the development of a 250 MW utility-scale solar project in Rajasthan, reflecting the companies' expanding collaboration in India's renewable energy market. ACEN Strengthens India Renewable Portfolio Earlier this year, ACEN consolidated its ownership in URH after acquiring the remaining 50% voting interest from UPC India Pte. Ltd. The acquisition gave the Ayala Group-backed renewable energy company full ownership of more than 1 GW of renewable energy projects in India. URH is currently developing three renewable energy projects across Rajasthan and Karnataka with a combined installed capacity of 1,059 MW. India continues to be one of ACEN's largest overseas markets. As of the end of 2025, the country contributed 26% of the company's net attributable international renewable energy capacity. ACEN currently operates three solar power projects in India with a combined installed capacity of 1,344 MW. Across its global portfolio, the company had approximately 7 GW of attributable renewable energy capacity, including operational, under-construction and committed projects, spanning the Philippines, Australia, Vietnam, India, Indonesia, Laos and the United States as of the end of 2025.