Manila, 22 March 2024 – Kairos Renewables (“Kairos”) is pleased to announce the sale and divestment of its entire 40% ownership stake in a project, Real Wind Energy Inc (“RWEI”), to ACEN CORPORATION (PSE: ACEN).
Strategically located near the metro-Manila area, RWEI is developing one of the Philippines’ most significant onshore wind power projects, with a potential project capacity of 500MW and slated for project completion in 2030. Currently in the early development stage, RWEI has secured wind service energy contracts and constructed met masts across key areas of the project.
This successful transaction illustrates Kairos’ greenfield strategy of identifying and developing high-value wind power sites which support, in scale and performance, the accelerating transition to green energy.
About Kairos
Kairos was established in 2013 and is uniquely positioned as an independent renewables development platform based in and focused on Southeast Asia, with a team of 32 professionals operating from offices in Singapore, Thailand, Vietnam, and the Philippines.
Kairos continues to follow a strategy focused on its wind power expertise and long-term relationships built with many of the region’s leading utility-scale renewable energy investors. Kairos is responsible for every stage of a project’s lifecycle, from origination to commercial operation and beyond. Kairos aims to develop at least 10 GW of wind and solar projects (including battery energy storage system components).
Kairos is grateful for the continued support of all its investors, including Annycent Capital, an alternative asset manager specialised in renewable energy infrastructure, and the Seed Capital Assistance Facility established by the United Nations Environment Programme and the Frankfurt School of Finance and Management GmbH.
For full version of press release, please visit: https://kairos-renewables.com/wp-content/uploads/2024/03/07_Press-Release_RWEI-Sale_20240322_final.pdf