General Announcement::AC Energy's renewables push reaches Australia

Issuer & Securities

Issuer/ Manager
AC ENERGY FINANCE INTERNATIONAL LIMITED
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
15-Feb-2021 17:24:38
Status
New
Announcement Sub Title
AC Energy's renewables push reaches Australia
Announcement Reference
SG210215OTHR46O1
Submitted By (Co./ Ind. Name)
AC Energy, Inc. / Irene Maranan
Designation
Head, Corporate Communications and Sustainability
Effective Date and Time of the event
11/02/2021 00:00:00
Description (Please provide a detailed description of the event in the box below)
February 11, 2011 - UPC\AC Renewables Australia is pleased to announce that it has reached Financial Close for the first 400 MWac (521.5MWdc) stage of the New England Solar Farm at Uralla in New South Wales (NSW). This is the first stage of what will ultimately be a combined 720 MW Solar and 400 MWhr Battery at the site.

Once fully constructed, the New England Solar Farm will produce enough energy to power approximately 250,000 typical NSW households* each year and will supply energy to the market to help fill the gap left by the expected closure of the Liddell Power Station.

The New England Solar Farm will contribute significantly to AC Energy's goal of reaching 5,000 MW of renewables capacity by 2025, in line with its goal of becoming the largest listed renewables platform in Southeast Asia. The company aims to lead the way in the clean energy transition of the region by accelerating its sustainable investments.

UPC\AC Renewables is also planning to install up to a 400 MWh lithium-ion battery storage facility, with the first 50 MWh, which is supported by the NSW Emerging Energy Program, expected to become operational in mid-2022. This battery system will assist with electricity grid stability and provide firm capability to deliver energy at peak periods, lowering prices for consumers.

The New England Solar Farm is expected to participate in the NSW Electricity Infrastructure RoadMap bidding process to secure a long-term energy services agreement which will assist the NSW government to deliver lower energy prices to consumers.

*based on typical NSW household electricity consumption of 4.2 MWh per annum
Table3.1 https://www.aemc.gov.au/sites/default/files/2020-
12/2020%20Residential%20Electricity%20Price%20Trends%20report%20-%2015122020.pdf

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About UPC\AC Renewables Australia

UPC\AC Renewables Australia is a 50/50 joint venture between AC Energy and Infrastructure Corporation (ACEIC) and UPC Renewables. It is an Australian domiciled company with extensive experience in renewable energy development, construction and operations.

Other projects that are being developed by UPC\AC Renewables Australia include:
* Robbins Island Renewable Energy Park and Jim s Plain Renewable Energy Park in North West Tasmania ~850MW) and NE Tasmania ~1,000MW; key projects for the Marinus Link and Battery of the Nation Project;
* Baroota Pumped Hydro 250MW in SA, which is targeting financial closing tin 2021 with support under the UNGI program;
* Axedale 160MW Solar Farm with 60MWhr Battery System in Victoria;
* Stubbo 400MW Solar Farm with 200MWh Battery System in the Orana region of NSW;
* Plus further developments in Tasmania and NSW.

About AC Energy and Infrastructure Corporation (ACEIC)

AC Energy and Infrastructure Corporation (ACEIC) is a wholly owned subsidiary of Ayala Corporation, one of the largest and most diversified conglomerates in the Philippines.

ACEIC is the holding company for Ayala s energy and infrastructure businesses, and owns majority interest in AC Energy Corporation (PSE: ACEN). AC Energy aspires to be the largest listed renewables platform in Southeast Asia, with a goal of reaching 5 GW of renewables capacity by 2025.

About UPC Renewables

UPC is a leading worldwide renewable developer with more than 20 years of global experience developing, constructing and operating world-class wind and solar projects.

UPC has developed more than 3,500 MW of operating wind and solar projects with an investment value of over USD5 billion, and have a development pipeline of more than 5,000 MW.

UPC has a proven successful history of being an early entrant in new markets with advanced technology and creative local business strategies, helping countries accelerate their renewable energy development.

For inquiries and more information, please contact:

Irene Maranan
Head - Corporate Communications and Sustainability
Email : maranan.is@acenergy.com.ph
Contact number: +63 917.5298339

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