THE AYALAS’ energy arm is set to debut in India with a new energy project to boost its renewables portfolio in the Asia and Pacific region.

AC Energy, Inc. on Monday announced that its joint venture with Hong Kong-based UPC Renewables Group is building a 140-megawatt (MW) solar farm in the desert state of Rajasthan.

The Sitara Solar project, which is estimated to cost around $68 million, will supply power to Solar Energy Corp. of India. It won the supply contract with the state-owned firm via a competitive bid at 2.48 Indian rupee per kilowatt-hour, fixed over a 25-year period.

The solar facility is expected to go online in the first quarter of 2021.

AC Energy President and Chief Executive Officer Eric T. Francia said the company is keen to join the Indian energy market, citing it as “one of the world’s largest and fastest growing markets for renewable energy.”

India has set an “ambitious target” to jack up its clean energy capacity to 175 gigawatts (GW) over the next two years, 100 GW of which will come from solar, 60 GW from wind, 10 from bio-power, and 5 GW from hydropower.

AC Energy promises to bring new technologies and “best” practices to India, arousing its potential for renewable energy while helping it reach its energy goals, said AC Energy International Chief Operating Officer Patrice R. Clausse.

The solar project is seen to cut 2.4 million tons of carbon dioxide during its life cycle, according to Pranab Kumar Sarmah, chief executive officer of UPC-AC Energy Solar, the two firms’ 50-50 joint venture.

“This is our humble contribution to help India reach its renewable energy goal,” the official added.

UPC-AC Energy Solar is aiming to build more than 1 GW of clean energy projects across Asia in a few years.

Moreover, UPC Renewables Chairman Brian Caffyn said the upcoming solar facility will contribute a “significant” part of AC Energy’s renewables capacity target, which is expected to form half of its 5,000-MW total target capacity, or 2,500 MW, by 2025.

Among the recent joint projects put up by AC Energy and UPC Renewables is the twin wind project in Vietnam with a combined capacity of 60 MW. The project, located in the Soc Trang Province, is touted to sport the biggest wind tower in the country.

Just last week, AC Energy revealed it is building another energy project in Vietnam, claiming it as the biggest wind farm in the country with 210-MW capacity. The project is being done in partnership with AMI Renewables Energy Joint Stock Co. — Adam J. Ang