ACEN Corp. has partnered with the Yindjibarndi Aboriginal Corp. to develop and operate large-scale renewable energy projects in Australia’s Pilbara region.
In a disclosure to the Philippine Stock Exchange yesterday, ACEN said the partnership will develop, own and operate renewable energy projects of up to 3 gigawatts (GW) capacity that may utilize wind, solar and renewable energy storage technologies, among others.
The joint venture firm Yindjibarndi Energy Corp. (YEC) will represent one of the largest indigenous-led renewable energy initiatives in Australia with an initial goal to have 750 megawatts (MW) of capacity under construction within the next few years, representing an investment of more than A$1 billion.
ACEN added the partnership includes principles such as Yindjibarndi approval for all proposed project sites, Yindjibarndi equity participation of 25 percent to 50 percent in all projects, preferred contracting for Yindjibarndi-owned businesses apart from training and employment opportunities for Yindjibarndi people.
Subsequent stages of YEC’s portfolio will target an additional 2 GW to 3 GW of combined RE capacity.
“…The Pilbara region is home to some of the largest industrial energy users globally, many of whom have expressed their desire to transition to a carbon-neutral future. We are actively engaged in promising dialogues with potential off-take customers to purchase the renewable energy,” said Patrice Clausse, ACEN International chief executive officer, in a statement.
Prior to this partnership, ACEN had an existing footprint in Australia’s renewable energy sector, contributing significantly to the country’s clean energy transition and sustainability goals.
