AYALA-LED ACEN Corp. has secured a contract to construct a 936-megawatt (MW) wind power project in Latest South Wales, Australia.
“The Australian government actually bid out capability contracts to enable renewables… we were the [largest] [at] 936 MW. That is in Central-West Orana, a renewable energy zone (REZ),” ACEN President and Chief Executive Officer Eric T. Francia told reporters on Monday.
ACEN’s Valley of the Winds is among the many 19 projects chosen as a part of a national tender process for Australia’s Capability Investment Scheme (CIS).
It was “the largest project” awarded a CIS agreement up to now, the corporate said.
Slated for completion by 2030, the project is anticipated to supply power supply to 500,000 homes per 12 months and create 500 jobs through the construction phase.
While the Philippine government runs a program called Green Energy Auction, Australia has the same initiative through the CIS, which conducts competitive tenders to pick out projects that provide the most effective financial value.
In a press release, Australia’s Minister for Climate Change and Energy said that the 19 renewable energy projects will add 6.4 GW of fresh energy to the National Electricity Market.
The Central-West Orana REZ, where the Valley of the Winds could be positioned, spans roughly 20,000 square kilometers, based on the NSW Australian government.
It is anticipated to initially unlock no less than 4.5 GW of recent network capability by the late 2020s.
In February, ACEN’s subsidiary ACEN Australia announced that it had secured a complete of A$150 million (roughly P5.5 billion) in green term loans from Australia and Latest Zealand Banking Group Ltd. and Westpac Banking Corp., with each bank providing A$75 million.
The green term loan represents the corporate’s commitment to the Australian market, where multiple GW is already in operation and under construction, with an extra development pipeline of greater than eight GW in renewables, it said.
ACEN, the listed energy platform of Ayala Corp., boasts a portfolio of about 6.8 GW of attributable renewable capability in operation, under construction, and committed projects.
The corporate operates across a various range of markets, including the Philippines, Australia, Vietnam, India, Indonesia, Laos, and the USA. — Sheldeen Joy Talavera
