ACEN Corp. said Tuesday wholly-owned subsidiary ACEN Australia signed a deal for the supply of renewable electricity from Stage 1 of its New England Solar project in New South Wales.
ACENA signed an 8-year power purchase agreement (PPA) where SmartestEnergy will purchase 25 percent of the output of the 400-MW Stage 1 project, reducing the need for electricity that could otherwise be sourced at a higher emissions intensity.
ACEN Australia managing director David Pollington said the agreement is another milestone for the company’s inaugural project which stands as a major contributor to the National Electricity Market (NEM).
“We have a bold strategy to help Australia transition to a clean energy future, and we are excited by this first offtake with SmartestEnergy, enabling us to bring more renewable energy projects to life and clean electricity for Australian homes and businesses,” Pollington said.
The New England Solar is ACEN Australia’s first operational project, with an initial 400 MW.
The 720-MW project, once fully completed, will be one of Australia’s largest solar projects, providing clean renewable energy to power around 300,000 average Australian homes.
ACEN Australia is committed to the New England region for decades to come with more than Au$200,000 already invested into the Uralla and surrounding community through the New England Solar Social Investment Program.
An additional Ai$7 million in community funding will be invested over the next 25 years.
SmartestEnergy Australia chief executive Robert Owens said the renewable energy purchased from ACEN would be made available to commercial and industrial customers throughout Australia.
“Our goal is to help Australian businesses procure 100-percent renewable energy to fast-track their net zero journey, and we are very pleased to be able to partner with ACEN who is leading the sustainable energy landscape that integrates community prosperity,” Owens said.