A new renewable energy developer has launched onto the scene in Australia, arriving with a ready-made 1.3 gigawatt pipeline of solar, wind and battery storage projects across four states and an executive team of seasoned energy market players.
ACE Power, funded by global clean energy holding Pelion Green Future, made its official debut on Wednesday, and unveiled a portfolio of 10 renewable energy projects at various stages of development, due for completion between 2024 and 2025.
The 10 projects , which ACE Power acquired from a company called CleanGen Projects, comprise nine solar farms and one wind farm spread across the major National Electricity Market states, Queensland, New South Wales, Victoria and South Australia.
Among the largest renewable energy projects in the company’s portfolio are the 277MW Loxton solar farm in South Australia, near the junction of the Victoria and NSW borders; the Narrabri and Forbes solar farms in NSW, both of which are 150MW, and the 150MW Jones Creek wind farm in southern NSW.
The company said on Wednesday that four of the solar projects – Kerang (140MW Victoria), Burdekin (129MW Queensland), Mareeba (72MW Queensland), and Tatura East (52MW Victoria) – were “approved with the network connection in progress,” while the remainder were in the process of obtaining permits and connections.
On battery storage, a company spokesperson said each of the projects would include battery storage systems of varying capacity and duration, depending on plant size and grid requirements.
The founders of the company include Koovashni Reddy, who also founded CleanGen in 2012 and whose resume includes roles at AGL Energy, Energy Australia, Delta Electricity and Pacific Power.
A co-founder and non-executive director at the new company is Mark Hogan, who headed up Wirsol Energy from 2014 to 2020, and joining him from Wirsol as co-founder and director of operations is Andy Scullion. Hogan is also contributing to the financing of ACE Power.
“I am looking forward to deploying our industry knowledge and technical experience to deliver clean, reliable and economic renewable energy solutions for the Australian community,” said Scullion, who in his role at Wirsol delivered just under 600MW of solar and battery storage projects across Australia.
“We are well placed in the renewable energy market with our access to projects, funding and proven delivery team, aiming to achieve nothing short of excellence,” added Reddy in a statement on Wednesday.
“The state governments’ recent grid strengthening and renewable incentives in NSW, Victoria and Queensland will greatly assist in achieving the transition and will provide a much-needed boost to the economy in our recovery from the impacts of COVID-19.”
For Pelion Green Future, a global clean energy holding established by entrepreneurs Alexander Samwer and Jeremias Heinrich, the partnership with ACE Power marks its debut in the Australian market.
“[We] look forward to supporting ACE Power’s growth as they build and champion a clean energy future,” said Pelion’s Heinrich.
“Renewables is the key sector for Pelion globally and Australia is one the most promising markets based on its fundamentals. The future of the planet and its people is core to our investment strategy.”