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Manila Bulletin devider Business devider ACEN to triple Australia investments to AU$6B

ACEN to triple Australia investments to AU$6B

Visiting PM Albanese hails Ayala's RE investments

Published Sep 10, 2023 05:30 am

At A Glance

  • Apart from its home base in the Philippines, Australia is among the major offshore markets that the Ayala company has been injecting huge capital in – primarily for solar and wind farm facilities as well as warranted technology coupling with energy storage systems. <br> 

Ayala-led ACEN Corporation has committed tripling of investments in the Australian energy market to AU$6 billion until 2026; and that primarily gained recognition from visiting Australian Prime Minister Anthony Albanese.

The Australian leader’s acknowledgment of the core ventures of the Ayala firm in Australia had been personally conveyed to ACEN President and CEO Eric T. Francia during their side meeting in Malacanang.

Albanese primarily cited the current AU$2.0 billion investment of ACEN in Australia; which is set to grow to AU$6.0 billion in the next three years.

“They have large presence in New England region, in Tasmania, as well as investment coming in Western Australia in the Pilbara. They expect that investment to increase to AU$6 billion in three years - a substantial investment in Australian renewables, putting online something like 3.0 gigawatts of additional capacity in the Australian energy market,” the Australian prime minister stressed.

He similarly described ACEN as “a significant company which is making a difference and wants to make more of a difference.”

The Australian leader briefly met with the ACEN chief executive on the sidelines of the bilateral meeting and signing of Strategic Partnership Agreement with President Ferdinand Marcos Jr. that happened in Malacanang Palace.

In that meeting, Francia has reaffirmed the Ayala firm’s investment expansion plan for Australia, with him noting that "ACEN fully supports Australia's energy transition, and the company is gearing up to triple its Australia investments in the next three years."

Among the big-ticket renewable energy (RE) projects being advanced by ACEN in the Australian market are its 720MW New England and the 400MW Stubbo solar farm installations in New South Wales.

The Ayala company is similarly eyeing wind farm developments along Robbins Island and Jim’s Plain of Tasmania that may yield potential capacity of up to 1,000 megawatts.

For its ongoing projects, Francia sounded off ACEN’s appreciation of the Australian government's efforts “to augment the much-needed transmission capacity to enable the growth of renewables.”

He emphasized that “our projects are particularly reliant on the Central West Orana renewable energy zone and the Marinus link transmission projects.”

ACEN is currently pulling off the  concretization of its 5,000MW RE capacity by 2025; and will be pushing on for a higher target of 20 gigawatts by 2030.

Apart from its home base in the Philippines, Australia is among the major offshore markets that the Ayala company has been injecting huge capital in – primarily for solar and wind farm facilities as well as warranted technology coupling with energy storage systems. 

 

 

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Australian Prime Minister Anthony Albanese renewable energy solar plants wind farm ACEN Corp
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