ACEN’s solar plants to energize 435,000 homes in Australia
A unit of Ayala-led energy firm ACEN Corp. in Australia has secured service agreements for its two solar plants with a combined capacity of 1,120 megawatts (MW).
In a stock exchange disclosure on Tuesday, ACEN said the 720-MW New England and the 400-MW Stubbo solar projects were granted 20-year long-term energy service agreements (LTESAs) to supply renewable electricity to 435,000 homes in Australia.
“The LTESAs help encourage investment in the renewables and storage capacity necessary to accelerate the transition to clean, reliable and, more importantly, affordable power for Australians,” said ACEN Australia chief executive officer Anton Rohner.
He added that the contracts also offered power generation projects rights to access a minimum price over the 20-year timeframe, protecting investors “from the risk of unexpectedly low wholesale electricity prices.”
The LTESAs were secured through the New South Wales Consumer Trustee’s inaugural tender for renewable generation and long duration storage.
In return, the company is expected to stay firm on its financial commitments to support community initiatives, regional manufacturing and employment, and indigenous participation.
ACEN, the publicly listed energy platform of the Ayala group, said the first stage of the New England project that had a capacity of 400 MW was the Australia unit’s first operational solar plant. It began operations in March. INQ
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