ACEN Corp. has agreed to sell up to a 49% stake in another renewable energy (RE) project in India to Dutch investor Diamond India Renewables One B.V. (DIRO), according to a regulatory filing by its wholly owned subsidiary Unlimited Renewables Holdings B.V. (URH) on Monday, as reported by BusinessWorld.
This transaction follows a similar partnership announced last month, where ACEN also sold a minority stake to DIRO in another Indian RE project. The move is part of ACEN's strategy to expand its renewable energy portfolio in India, leveraging foreign investment to accelerate development.
The deal strengthens ACEN's presence in India's growing renewable energy market and provides capital for further project development. No financial terms were disclosed in the filing.