ACEN, Yindjibarndi group investing P36b in Australian RE projects
By Othel V. Campos – February 12, 2024, 8:20 pm
from manilastandard.net
AUSTRALIA’S First Nations Yindjibarndi people and ACEN Corp. signed a partnership agreement for P36 billion worth of renewable energy projects in Western Australia.
Yindjibarndi Energy Corp. (YEC), the partnership company, will develop wind, solar and renewable energy projects in Yindjibarndi Ngurra, an area of encompassing 13,000 square kilometers within Yindjibarndi’s exclusive native title land in Australia.
“What ACEN and the Yindjibarndi group are doing is fully aligned with the strategic partnership between Australia and the Philippines. We are happy to collaborate and work together to ensure that the partnership is mutually beneficial and sustainable,” said Australian Ambassador to the Philippines Hae Kyong Yu.
The partnership is one of the largest indigenous-led renewable energy initiatives in Australia, focused on sustainable development and economic opportunities.
YEC aims to develop 750 megawatts of combined wind, solar and battery storage in the short term for domestic and export markets.
Subsequent projects will target an additional 2 GW to 3 GW of combined wind, solar and battery storage.
“This partnership between ACEN and the Yindjibarndi People was built on shared values. ACEN were genuine in their interactions with the Yinjibarndi people – they were honest about their intentions and listened to what the Traditional Owners needed. This made the Yindjibarndi comfortable around ACEN’s people and put them in good standing to negotiate the terms of the partnership agreement,” said YEC chief executive Craig Ricato.
The Australian Embassy in the Philippines is supporting ACEN with market information and opportunities.
“Australian investment advisors in the Philippines and Australia are helping us keep up to date with developments in Australia’s growing renewable energy sector, and sharing information on investment opportunities,” said ACEN International chief executive Patrice Clausse.
“They are also pivotal in helping us connect with government representatives at federal and state levels,” she said.
ACEN has established a solid footprint in Australia’s renewable energy sector, contributing significantly to the country’s clean energy transition and sustainability goals.
