General Announcement::New England Solar, one of Australia's largest solar projects, officially opened

Issuer & Securities

Issuer/ Manager
AC ENERGY FINANCE INTERNATIONAL LIMITED
Securities
AC ENER FINUS$110M5.25%N290212 - XS1946107007 - IDTB
AC ENER FINUS$225M4.75%N240129 - XS1940840132 - OEHB
AC ENER FIN US$300M5.1%N - XS2258819874 - RKIB
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
20-Mar-2023 13:00:11
Status
New
Announcement Sub Title
New England Solar, one of Australia's largest solar projects, officially opened
Announcement Reference
SG230320OTHRYO5Z
Submitted By (Co./ Ind. Name)
ACEN CORPORATION / Irene S. Maranan
Designation
Head, Corporate Communications and Sustainability
Description (Please provide a detailed description of the event in the box below)
* Stage 1 of ACEN Australia's New England Solar project was officially opened today by the Hon Chris Bowen MP, Federal Minister for Climate Change
* It is one of Australia's largest solar projects to be participating in the National Electricity Market, with Stage 1 requiring the installation of close to a million solar panels
* ACEN Australia has more than 1GW capacity in construction and more than 8GW capacity in the development pipeline

16 March 2023, NSW - Stage 1 of ACEN Australia's New England Solar project was officially opened today by the Hon Chris Bowen MP, Federal Minister for Climate Change, marking a milestone in the project s six-year journey to generate clean renewable energy into the National Electricity Market (NEM).

The estimated 936 MWdc (720 MWac) project is being developed in two stages, and was approved by the NSW Government in 2020. The first 521 MWdc (400 MWac) stage of the project has been in construction since March 2021. It is one of Australia's largest solar projects to be participating in the NEM, with Stage 1 requiring the installation of close to a million solar panels.

New England Solar was granted formal registration to send power into the NEM by the Australian Energy Market Organization (AEMO) in December 2022, and since that time, has been generating renewable energy. Stage 1 of the project is expected to be generating at full nameplate capacity of 521 MWdc (400 MWac) in the coming months.

During construction, up to 400 workers have been on-site during peak activity, upgrading and maintaining roads, installing and building supporting infrastructure, and constructing and connecting tracking systems and installing solar PV modules. Around 80% of this peak workforce has been filled by personnel from the New England region.

New England Solar is being built with the support of host landholders, First Nations people, and the Uralla community.

ACEN Australia is investing more than AU$ 5 Mn in community funding into Uralla over the next 25+ years as part of New England Solar.

Uralla Grants provides assistance and support to the community to promote community resilience, prosperity, sustainability, and recreation. At the completion of Stage 1 construction, AU$200,000 in grants will have already been delivered.

New England Solar marks the start of ACEN Australia s journey to take meaningful actions to provide opportunities for Aboriginal people to actively participate in our renewable energy projects.

New England Solar is located near Uralla in the NSW Government s New England Renewable Energy Zone.


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About ACEN Australia

ACEN Australia has more than 1GW capacity in construction and more than 8GW capacity in the development pipeline. Its renewable energy assets include solar, wind, battery and pumped hydro and energy storage projects across Australia. ACEN Australia's first operational project will be New England Solar which has been in construction since 2021. It is one of Australia's largest solar projects to be participating in the National Electricity Market and is the largest solar project in Australia to be financed on a fully merchant basis. Stubbo Solar in the NSW Central Orana Renewable Energy Zone is ACEN Australia's second project which commenced construction in late 2022. Other ACEN Australia projects include New England Battery (NSW), Birriwa Solar (NSW), Valley of the Winds (NSW), Aquila Wind (NSW), Phoenix Pumped Hydro (NSW), Robbins Island and Jim's Plain Wind (TAS) and North East Wind (TAS).

ACEN Australia is a wholly owned subsidiary of ACEN (PSE: ACEN), the listed energy platform of the Ayala group. The company has ~4,030 MW of attributable capacity from owned facilities in the Philippines, Vietnam, Indonesia, India, and Australia, with a renewable share of 98%, which is among the highest in the region. ACEN's aspiration is to be the largest listed renewables platform in Southeast Asia, with a goal of reaching 20 GW of renewables capacity by 2030. ACEN is committed to transition the company's generation portfolio to 100% renewable energy by 2025 and to become a Net Zero greenhouse gas emissions company by 2050.

www.acenrenewables.com.au


For inquiries and more information, please contact:

Irene Maranan
Head - Corporate Communications and Sustainability
Email: irene.maranan@acenrenewables.com


DISCLAIMER: This disclosure may contain forward-looking statements that are subject to risk factors and opportunities that may affect ACEN's plans to complete the transaction/s subject of this disclosure. Each forward-looking statement is made only as of the date of this disclosure. Outcomes of the subject transaction may differ materially from those expressed in the forward-looking statements included in this disclosure.

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