<\/p>\n
ACEN CORP. is deepening its presence in Australia after securing financing for a 75-megawatt-alternating current (MWac) solar farm in Western Australia, marking a milestone for its partnership with an Indigenous group within the country.<\/span><\/p>\n In an announcement on Monday, ACEN said Yindjibarndi Energy Corp. (YEC), its three way partnership with Yindjibarndi Aboriginal Corp., had reached financial close for the Jinbi Solar Project within the Pilbara region.<\/p>\n The corporate said the project has secured funding, government approvals and contractual arrangements needed to proceed with construction, even though it didn’t disclose the project cost.<\/p>\n The Jinbi Solar Project is the primary YEC development to achieve financial close for the reason that partnership was formed three years ago.<\/p>\n Following the milestone, YEC issued notices to proceed to engineering, procurement and construction contractor DT Infrastructure and accommodation provider Rapid Camps.<\/p>\n \u201cReaching financial close on our first project in Pilbara inside three years of the partnership\u2019s operation is a big milestone for YEC and our shareholders, the Yindjibarndi traditional owners and ACEN,\u201d YEC Chief Executive Officer Craig Ricardo said within the statement.<\/p>\n The project is targeted for business operations by mid-2028.<\/p>\n YEC also plans to eventually expand the solar facility to 150 MWac and add battery energy storage systems, subject to approvals and future development decisions.<\/p>\n The three way partnership signed a 30-year power purchase agreement with global mining company Rio Tinto, which is able to buy all the electricity output of the solar farm as a part of its decarbonization efforts.<\/p>\n \u201cACEN is proud to partner with Yindjibarndi on a project that meets rigorous business standards while setting a robust benchmark for responsible and respectful renewable energy development in Australia,\u201d ACEN Group Chief Investment Officer Patrice Clausse said.<\/p>\n YEC goals to develop as much as 3 gigawatts (GW) of renewable energy projects across about 13,000 square kilometers of Yindjibarndi Ngurra.<\/p>\n Australia accounts for 28% of ACEN\u2019s net attributable renewable energy capability outside the Philippines. The corporate operates Australian solar farms with a combined capability of 1,042 MW.<\/p>\n Overall, ACEN has about 7 GW of attributable renewable energy capability across operational, under-construction and committed projects within the Philippines, Australia, Vietnam, India, Indonesia, Laos and the US.<\/span><\/p>\n ACEN shares gained 10 centavos to shut at P3.39 each. \u2014 Sheldeen Joy Talavera<\/b><\/p>\n<\/p><\/div>\n <\/p>\n","protected":false},"excerpt":{"rendered":" ACENRENEWABLES.COM ACEN CORP. is deepening its presence in Australia after securing financing for a 75-megawatt-alternating current (MWac) solar farm in Western Australia, marking a milestone for its partnership with an Indigenous group within the country. In an announcement on Monday, ACEN said Yindjibarndi Energy Corp. (YEC), its three way partnership with Yindjibarndi Aboriginal Corp., had […]<\/p>\n","protected":false},"author":1,"featured_media":333404,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[18727,9850,511,7024,51623,4995,20805,3137],"class_list":["post-333403","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-acen","tag-advances","tag-australia","tag-expansion","tag-pilbara","tag-project","tag-region","tag-solar"],"aioseo_notices":[{"message":"The permalink for this post just changed! 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