General Announcement::ACEN Australia secures long-term energy service agreements in NSW Govt's 1st RE and storage auction

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
02-May-2023 12:30:02
Status
New
Announcement Sub Title
ACEN Australia secures long-term energy service agreements in NSW Govt's 1st RE and storage auction
Announcement Reference
SG230502OTHRW1V2
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)
* ACEN Australia has secured 20-year Long Term Energy Service Agreements (LTESAs) for two of its solar projects as part of the NSW Government's first renewable energy and storage auction.
* The LTESAs will help encourage investment in the renewables and storage capacity necessary to accelerate the transition to clean, reliable, and more importantly, affordable power for Australians.
* When fully operational, New England Solar and Stubbo Solar will supply renewable electricity to 435,000 homes, helping to meet the NSW Government's emissions reduction target of 50% by 2030.

01 May 2023, NSW - ACEN Australia has secured 20-year Long Term Energy Service Agreements (LTESAs) for two of its solar projects at the NSW Government's first renewable energy and storage auction.

LTESAs for ACEN Australia's 720 MW (936 MWdc) New England Solar project and 400 MW (520 MWdc) Stubbo Solar project were secured through the NSW Consumer Trustee's inaugural tender for renewable generation and long duration storage.

When fully operational, New England Solar and Stubbo Solar will supply renewable electricity to 435,000 homes, helping to meet the NSW Government's emissions reduction target of 50% by 2030.

ACEN Australia CEO Anton Rohner said that the LTESAs allow for greater investment certainty for businesses like ACEN.

In return for the long-term commercial value provided by LTESAs, ACEN Australia has made significant financial commitments to support community initiatives, regional manufacturing, regional employment, and Indigenous participation.

ACEN Australia has around 1 GW capacity worth US$ 1B in construction, and more than 8 GW capacity in the development pipeline across Australia.

New England Solar (Stage 1) in NSW is ACEN Australia's first operational project and is being built with the support of host landholders, First Nations people, and the Uralla community. The 720 MW (936 MWdc) project is one of Australia's largest solar projects participating in the National Electricity Market (NEM) and is the largest solar project in Australia to be financed on a fully merchant basis. The 400 MW (520 MWdc) Stage 1 of the project was officially opened in March 2023 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 NEM.

Stubbo Solar commenced construction in late 2022. The 400 MW (520 MWdc) solar project is located within the Central West Orana REZ and will connect to the existing 330 kV network between Wollar and Wellington. The project's development approval also includes provisions for a 200 MWh battery energy storage system, allowing for the project to later on be adapted to dispatch energy when it is most needed during peak hours and provide important grid stability services.

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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. Besides New England Solar and Stubbo Solar, ACEN Australia's 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 ~4,200 MW of attributable capacity from owned facilities in the Philippines, Australia, Vietnam, Indonesia, and India, 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.


ACEN - Visit www.acenrenewables.com
ACEN Australia - Visit www.acenrenewables.com.au


For inquiries and more information, please contact:

Dr Michael Connarty
Head - Strategy and Stakeholder Engagement
ACEN Australia
0407 368 174
Email: Michael.connarty@acenrenewables.com.au


Irene Maranan
Head - Corporate Communications and Sustainability
ACEN
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.

Attachments

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