ACEN Corp.’s Australian subsidiary signed two different agreements that will further develop renewable energy (RE) capacities in Australia.
ACEN Australia signed a cooperation agreement with Marubeni Asian Power Singapore for the joint development of a 200 megawatts (MW)/400 megawatt hours (MWh) two-hour battery energy storage system (BESS) in New South Wales, Australia.
The company said the agreement commits the parties to work together on the delivery of the New England 400 MWh BESS.
The 50-50 partnership will invest AU$250 million on the project which will be completed by 2025.
David Pollington, ACEN Australia managing director, said battery storage will play a critical role in bringing RE projects more feasible.
The BESS project will also be tied in with ACEN Australia’s 720 MW New England Solar currently being built in stages near Uralla in the New South Wales New England region.
The project has a potential for significant future expansion.
ACEN Australia also signed a cooperation agreement with Australian-owned ZEN Energy Retail to advance the power purchase agreement documentation for an offtake of up to 220 MW of ACEN Australia’s New England Solar project.
The 11-year agreement will support ZEN Energy in balancing the variable nature of solar power and provide a fixed price assurance.
“…The agreement with ZEN Energy reduces the need for electricity that could otherwise be sourced at a higher emissions intensity. ACEN Australia’s vision is clear: we aim to supply affordable, clean electricity while maintaining our steadfast commitment to social and environmental responsibility,” Pollington said.
ACEN’s New England Solar is a 720 MW solar and battery project currently being built in phases. The first phase worth 400 MW commenced generating electricity in 2023 while the second phase will start construction this year.
ACEN Australia’s renewable platform represents more than 1 gigawatt (GW) of capacity from large-scale RE generation in construction and operations and more than 8 GW capacity in the development pipeline, with a portfolio including solar, wind, battery, and pumped hydro projects across Australia.
ACEN as an entire group, currently has a diversified portfolio of 4.4 GW in renewables with 38 percent or 1.7 GW in operation.
The company’s operating capacity is expected to grow by 1 GW in the next few months as it targets a total RE capacity of 20 GW by 2030.
Apart from the Philippines and Australia, ACEN also currently has projects in Vietnam, Lao People’s Democratic Republic, India, United States, Indonesia and Taiwan.