{
  "id": 1747382,
  "title": "ACEN offloads 49% stake in another India wind asset",
  "url": "https://urgent.news/2026/08/18/acen-offloads-49-stake-in-another-india-wind-asset",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-18T16:00:00.000Z",
  "source": {
    "name": "Philippine Star Business",
    "slug": "philippine-star-business",
    "url": "https://www.philstar.com/business/2026/08/19/2550181/acen-offloads-49-stake-another-india-wind-asset"
  },
  "original_language": "en",
  "account": "MANILA, Philippines — Zobel family-owned ACEN Corp. is divesting a significant portion of its India wind assets through a strategic sale to Dutch firm Diamond India Renewables One B.V. (DIRO). ACEN announced it will transfer up to a 49-percent stake in Avana Renewables Pte. Ltd., a company developing a 20-MW wind project in Karnataka, India. The transaction, facilitated by an executed securities agreement, will be completed in stages, with DIRO initially acquiring a 10-percent voting interest. ACEN's decision aligns with its ongoing strategy of reducing equity in specific renewable power projects in India. The company's earnings surged 411 percent to P3.9 billion in the first half of 2026 due to strong performance in Philippine operations and other overseas markets. ACEN's chief finance officer and chief strategy officer, Jonathan Back, expressed confidence in future growth, emphasizing a disciplined approach to project selection, particularly in the face of global energy market volatility following the Middle East conflict.",
  "summary": "ACEN Corp. of the Zobel family is further unlocking value from its India wind portfolio through another strategic stake sale with Dutch firm Diamond India Renewables One B.V. (DIRO).",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}