ACEN Corp., the Ayala Group's listed energy unit, is expanding its renewable energy (RE) portfolio in Indonesia via a joint venture with a local firm that aims to explore and develop projects in the country.

In a disclosure on Tuesday, ACEN said that unit ACEN Indonesia Investment Holdings Pte. Ltd. and PT Dewata Megaenergi signed a shareholders' agreement last Friday to develop green energy projects through a joint venture platform, PT Dewata ACEN Renewables Indonesia.

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