ACEN bags 1.1 GW of solar awards in Aussie tender

• ACEN Corporation (PSE: ACEN), the power platform of Philippine conglomerate Ayala Group, today confirmed solar project awards totalling 1,120 MW in a renewable energy tender in New South Wales.

The firm's Australian system has actually secured two lasting power service agreements (LTESAs) for twenty years as part of the inaugural auction under New South Wales' roadmap to replace retiring coal-fired generation with renewables, supported by long-duration storage.

ACEN Australia was successful with its 720-MW/936-MW DC New England Solar project as well as the 400-MW/520-MW DC Stubbo Solar scheme. The two plants, when completely functional, will have the ability to generate power for around 435,000 houses each year.

New England park is incomplete near the town of Uralla, in the New England Renewable Energy Zone (REZ). Its 400-MW/520 MW DC initial phase was completed in March. Stubbo Solar is being developed within the Central-West Orana REZ as well as is prepared to go on the internet in 2025.

"The LTESAs offer the civil liberties to access a minimum price for generation projects over a 20-year duration, which protects financiers like us from the risk of suddenly reduced wholesale electrical power prices," claimed Anton Rohner, CEO of ACEN Australia.

Presently, ACEN Australia has around 1 GW of capacity under construction in Australia and also greater than 8 GW projects in its development pipe. The company's possessions cover solar, wind, battery and pumped hydro energy storage space modern technologies.