General Announcement::ACEN Australia partners with Marubeni Asian Power Singapore to develop a 200MW BESS in Australia

Issuer & Securities

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

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
05-Mar-2024 09:00:02
Status
New
Announcement Sub Title
ACEN Australia partners with Marubeni Asian Power Singapore to develop a 200MW BESS in Australia
Announcement Reference
SG240305OTHR5CSF
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)
* Partnership to develop a 400 MWh Battery Energy Storage System (BESS)
* Strengthens ACEN Australia and Marubeni's position to expand in Australia and support the country's energy transition

04 March 2024, Melbourne, Australia - ACEN Australia (of the Ayala Group) and Marubeni Asian Power Singapore signed a Cooperation Agreement for the joint development of a 200 MW/400 MWh (2-hour) Battery Energy Storage System (BESS) in New South Wales, Australia. The signing ceremony for the Agreement took place at the Philippine Business Forum held in Melbourne, Australia, and was presented to the President of the Philippines, Ferdinand Romualdez Marcos Jr.

The agreement commits the parties to work together on the delivery of the New England 400 MWh BESS. The 50-50 partnership has a projected investment amount of AU$ 250 million with a target completion by 2025.

New England Solar is a 720 MW solar and battery project currently being built in stages near Uralla in the New South Wales (NSW) New England region. Stage 1 of the solar facility (400 MW) commenced generating clean, renewable electricity into NSW and Queensland in 2023. Stage 2 will start construction in 2024. This agreement marks the initial stage of the battery of 200 MW, with potential for significant future expansion. The project is being delivered with the support of host landholders, First Nations, and the Uralla community.

Transgrid Group's contestable business Lumea will connect the grid-forming BESS to the grid, supporting a secure energy supply as the network transitions from aging coal fire power stations to new renewable generation and energy storage.

ACEN Australia's renewable platform represents more than 1 GW capacity of large-scale renewable energy generation under construction and in operation and more than 8 GW capacity in the development pipeline, with a portfolio including solar, wind, battery, and pumped hydro projects across Australia.

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About ACEN

ACEN (PSE:ACEN) is the listed energy platform of the Ayala Group. The company has ~4,800 MW of attributable capacity from owned facilities in the Philippines, Australia, Vietnam, Indonesia and India, with a renewable share of 99%, 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.




About Marubeni Asian Power Singapore

Marubeni Asian Power Singapore is the APAC business development arm of the Marubeni power division, having developed, owned and now operating ~35,000MW worldwide. It is a part of the Marubeni Group, a diversified Japanese Trading House listed on the Tokyo Stock Exchange. Marubeni has fourteen Business Divisions organised as Lifetstyle, IT Solutions, Food, Agri Business, Forest Products, Chemicals, Metals and Mineral Resources, Energy, Infrastructure Projects, Aerospace & Shipping, Finance, Leasing & Real Estate Business, Construction, Industrial Machinery & Mobility and Power.

In Australia, among other investments Marubeni owns the energy retailer SmartestEnergy Australia, is a consortium member for Sydney NorthWest Metro and Stage 3 Gold Coast Light Rail PPP, Portland Aluminum Smelter, Boynes Aluminum Smelter and the Roy Hill Iron Ore Mine.


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.

Attachments

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