- Power Purchase Agreement (PPA) to offtake renewable electricity generate from Stage 1 of ACEN Australia’s New England Solar project in NSW
- The eight-year agreement provides SmartestEnergy with an offtake of 25% of the output of the 400 MW Stage 1 project
- Through the partnership, electricity consumption can be reduced that could otherwise be sourced at a higher emissions intensity
13 March 2024, NSW, Australia – ACEN, through its wholly owned subsidiary, ACEN Australia, and SmartestEnergy have signed a Power Purchase Agreement (PPA) to offtake renewable electricity generated from Stage 1 of ACEN Australia’s New England Solar project in NSW.
The eight-year agreement provides SmartestEnergy with an offtake of 25% 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.”
New England Solar is ACEN Australia’s first operational project, and the 400 MW first stage has been built with the support of host landholders, First Nations people, and the Uralla community. At full development, the 720 MW project will be one of Australia’s largest solar projects participating in the National Electricity Market (NEM), 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 ~AU$7 million in community funding will be invested over the next 25+ years.
SmartestEnergy Australia CEO Robert Owens said the renewable energy purchased from ACEN will be made available to commercial and industrial customers throughout Australia.
“Our goal is to help Australian businesses procure 100% 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.”
Related news:
###
About ACEN Australia
ACEN Australia is the platform representing ACEN’s renewable energy assets in Australia.
With more than 1 gigawatt (GW) capacity of large scale renewable energy generation in construction and operations, and more than 8GW capacity in the development pipeline, its portfolio includes several solar, wind, battery and pumped hydro projects across Australia.
New England Solar (Stage 1) in NSW is ACEN Australia’s first operational project. It is one of Australia’s largest solar projects participating in the National Electricity Market (NEM) and is the largest solar project in Australia to be financed on a fully merchant basis. Stubbo Solar in the NSW Central West Orana Renewable Energy Zone is ACEN Australia’s second project, which commenced construction in late 2022
With 90+ employees and growing, our people are based in Tasmania, Victoria, New South Wales and Queensland.
www.acenrenewables.com.au
About SmartestEnergy
SmartestEnergy is a people-powered renewable energy company driven by a team of National Energy Market experts and strong relationships with customers and partners. With a Sydney office established in 2020, SmartestEnergy has thrived for two decades in the UK market and is now a significant player in Australia.
We’re asset-light and operating without bias in the Australian market, which means we can offer reliable, innovative retail solutions for clean energy, adaptable to diverse sustainability needs. With the grid mix changing, balancing supply and demand has never been more important. Today, we’re driving the worldwide transition to net zero with offices spanning Australia, the US and the UK.
We’re proud to be a wholly owned subsidiary of Marubeni, a Japanese corporation currently listed as a Fortune Global 500 company. SmartestEnergy Australia is a certified carbonneutral organisation.
smartestenergy.com
For inquiries and more information, please contact:
Irene Maranan
Head – Corporate Communications and Sustainability
Email: irene.maranan@acenrenewables.com