ACEN Australia and ZEN Energy Collaborate to Promote the Growth of Renewable Energy in Australia

The Australian-owned ZEN Energy Retail (ZEN Energy) and ACEN Corporation have signed a cooperation agreement to advance the Power Purchase Agreement documentation for an offtake of up to 220 MW of ACEN Australia's New England Solar project. ACEN Corporation made this announcement through its subsidiary, ACEN Australia.

Representing up to 52% of the output of New England Solar Stage 1, the new alliance enables New England Solar to ensure a steady revenue stream through the creation and sale of Large-scale Generation Certificates (LGCs), a mechanism used to reduce the cost of renewable energy and encourage the use of clean energy sources. The 11-year agreement will support ZEN Energy in balancing the variable nature of solar power and provide a fixed price assurance.

ACEN Australia Managing Director David Pollington, said: "Our collaboration with ZEN Energy is more than just a partnership; it is a significant coming together to ensure Australia’s renewable energy landscape is robust and ready to meet future energy demands. The agreement with ZEN Energy reduces the need for electricity that could otherwise be sourced at a higher emissions intensity. ACEN Australia’s vision is clear: we aim to supply affordable, clean electricity while maintaining our steadfast commitment to social and environmental responsibility.”
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Currently under construction in the New South Wales (NSW) region of New England is New England Solar, a 720 MW solar and battery project. In 2023, the 400 MW Stage 1 project in NSW and Queensland started producing clean, renewable electricity. In 2024, work on Stage 2 will begin. First Nations, host landholders, and the Uralla community are supporting the project's execution.

Under the Science-Based Targets Initiative (SBTi) and emissions reduction objective, ZEN Energy is the first supplier of power in Australia to offer 1.5 degrees Celsius. ZEN Energy is dedicated to establishing enduring and sustainable alliances and implementing its plan in a manner that is considerate of the requirements of the local community, the environment, and Australia's First Peoples.

ZEN Energy CEO Anthony Garnaut, said: “This innovative agreement is Australia’s renewable energy superpower opportunity in action. ZEN Energy is Australian-owned and proud to be collaborating with ACEN Australia to help customers drive down emissions and be leaders in a zero-carbon world. It is an important step towards ZEN Energy’s goal to create a safe 1.5- degree world for everyone.”

With a portfolio that includes solar, wind, battery, and pumped hydro projects all throughout Australia, ACEN Australia's renewable platform represents more than 1 GW capacity of large-scale renewable energy generation in construction and operations and more than 8 GW capacity in the development pipeline.​

​ACEN (PSE:ACEN) is the listed energy platform of the Ayala Group. The company has ~4,800 MW of attributable capacity from owned facilities in the Philippines, Australia, Vietnam, Indonesia and India, with a renewable share of 99%, which is among the highest in the region. ACEN’s aspiration is to be the largest listed renewables platform in Southeast Asia, with a goal of reaching 20 GW of renewables capacity by 2030. ACEN is committed to transition the company’s generation portfolio to 100% renewable energy by 2025 and to become a Net Zero greenhouse gas emissions company by 2050.