Mar. 05, 2024Marubeni Corporation
Marubeni Corporation (hereinafter, “Marubeni”) is pleased to announce that a wholly-owned subsidiary of Marubeni, Marubeni Asian Power Singapore Pte Ltd., has entered into a Cooperation Agreement (hereinafter, “the Agreement”) with ACEN Australia Pty Ltd. (hereinafter, “ACEN”), a wholly-owned subsidiary of ACEN Corporation under the Ayala Group, for the joint development of a 200MW battery storage project (hereafter, “the Project”) in New South Wales, Australia on March 4, 2024.
The signing ceremony for the Agreement took place at the Philippine Business Forum held in Melbourne, Australia, and was attended by the President of the Philippines Ferdinand Romualdez Marcos Jr.
Marubeni is looking forward to deepening its relationship with ACEN through the signing of the Agreement for the joint development of this Project. The Agreement confirms that Marubeni will assess the opportunity of investment in the Project and SmartestEnergy Australia Pty Ltd., a wholly-owned subsidiary of Marubeni that operates an electricity wholesale and retail business in Australia, will explore the possibility of offtaking electricity charged from the battery storage system of the Project.
Marubeni, through the joint development of the Project, aims to strengthen its relationship with the Ayala Group and looks forward to collaboratively promoting sustainable energy solutions, stable supply of power, and energy transition in Australia.
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