ACEN gets support from Australian indigenous group
Ayala-led power unit ACEN Corp. has joined forces with Australia’s First Nations Yindjibarndi people to develop renewable energy (RE) projects on Yindjibarndi Ngurra, located approximately 13,000 square kilometers within Yindjibarndi’s exclusive native title land in Western Australia.
Yindjibarndi Energy Corp. (YEC) and ACEN will build a renewable energy source of 750 megawatts from combined wind, solar and battery storage. Subsequent stages are expected boost capacity by up to two to three gigawatts.
With an investment of more than P36 billion, ACEN said the RE source will be used for the domestic and export markets.
“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,”
YEC CEO Craig Ricato said.
Aboriginal lands are protected under Australian law, allowing aborigines to claim ownership of their native land. This was after the passage of the 1976 Aboriginal Land Rights, which was the very first legislation that enabled the protection of the land of First Nations people.
Under an agreement, YEC will receive an equity stake of 25 to 50 percent in all projects and any construction on the Yindjibarndi Ngurra is subject to YEC’s approval.
“We feel deeply honored by the trust that Australia’s Yindjibarndi community has given us to work collaboratively with them. The Pilbara region is home to some of the largest industrial energy users globally, many of whom have expressed their desire to transition to a carbonneutral future,” ACEN International CEO Patrice Clausse said.
ACEN also said they are actively engaged in dialogues with potential off-take customers to purchase renewable energy.
“Australian investment advisers 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,” Clausse said.