ACEN, Marubeni to invest P9B in Aussie energy storage

INQUIRER FILE PHOTO

MANILA, Philippines  – The Ayala Group and Japanese conglomerate Marubeni teamed up to invest around P9 billion to develop a 200-megawatt (MW) battery energy storage in Australia.

In a disclosure on Tuesday, ACEN Corp. said its subsidiary ACEN Australia and Marubeni Asian Power Singapore are investing 250 million Australian dollars (P9.07 billion) to develop the project.

They aim to complete the New England 200-MW battery energy storage system in New South Wales by 2025.

Signed by the parties during the Philippine Business Forum held in Melbourne, ACEN said the project has “potential for significant future expansion.”

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The storage system will be connected to the grid, supporting the transition from aging coal fire power stations to new renewable generation and energy storage.

ACEN said this marked another milestone for its inaugural project, New England Solar, a 720-MW solar and battery project currently being built near Uralla town in New South Wales.

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The first phase of this solar project started supplying 200 MW of clean energy to New South Wales and Queensland last year while the second will begin construction this year.

“Once finished, it will be one of the nation’s largest co-located solar and battery energy storage facilities and enables energy to be stored and made available to the grid when it is needed,” said David Pollington, ACEN Australia managing director.

Marubeni Asian Power Singapore president and CEO Moroo Shino said the “strength and cooperation of both companies” would ensure success of the project. INQ