Energy group SmartestEnergy Australia, part of Japan’s Marubeni Corp (TYO:8002), has clinched with ACEN Corporation’s (PSE:ACEN) to buy 25% of the output of the Philippine group’s 400-MW New England Stage 1 solar park in New South Wales, Australia.
Image by: New South Wales Department of Planning and Environment.
Supplies will be made under an eight-year power purchase agreement (PPA), ACEN Australia said on Wednesday.
The contracted electricity volumes will be made available to SmartestEnergy’s commercial and industrial customers throughout Australia.
The New England Stage 1 park was brought online last year as part of the 720-MW New England photovoltaic (PV) project within the state's New England Renewable Energy Zone. The first-stage plant located near the town of Uralla is equipped with one million solar panels, which are planned to be coupled with a battery energy storage facility.
Once fully operational, the New England solar complex will generate 1,800 GWh of electricity annually, or enough to meet the power demand of around 300,000 average Aussie homes.
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