Filipino energy platform ACEN Corporation has partnered with Yindjibarndi Aboriginal Corporation to develop up to 3GW of renewable projects with battery energy storage systems (BESS) in Western Australia.
The projects will be developed by Yindjibarndi Energy Corporation (YEC), a partnership between Yindjibarndi Aboriginal Corporation and ACEN in Western Australia’s Pilbara region.
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YEC’s CEO Craig Ricato said the first stage of the project will include a 750MW solar-plus-storage project, while the second stage is much larger comprising up to 3GW of solar, wind and BESS.
The partnership agreement enabled Yindjibarndi Aboriginal Corporation to hold a minimum of 25% of the equity in all developed renewable projects and up to 50% of the equity in any project.
ACEN added that the final investment decision on YEC’s first stage of the project is expected to be made in late 2024.
Prior to this, ACEN also formed a partnership with US solar developer BrightNight in March to develop a 1GWac renewables portfolio in the Philippines. The partnership will deploy more than US$1.2 billion over the next five years. In a statement, the companies said the investment from ACEN will provide BrightNight with resources to “fund its Philippines buildout and long-term growth in one of the fastest-growing markets in Asia”. Moreover, ACEN will provide a partnership network and expertise across the regional energy value chain.
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