October 2023

Australian renewable energy developer, ACE Power (“ACE”), has reached an agreement with Osaka Gas Co., Ltd. (“Osaka Gas”), through its subsidiary, Osaka Gas Energy Oceania Pty Ltd (“OGEO”), to jointly develop a portfolio of utility-scale solar and battery projects with a total capacity of more than 500MW in New South Wales and Queensland, Australia (“Portfolio”).

“We’re delighted to announce our new partnership with OGEO, which is an exciting milestone for ACE Power. This partnership underscores ACE’s long-term commitment to working alongside local communities in these key regions of Queensland and New South Wales. We look forward to developing these projects with OGEO and bringing them towards construction, whilst contributing to both OGEO’s and Australia’s net zero targets.” said Andy Scullion, Founder and Managing Director of ACE.

This marks OGEO’s first utility-scale renewable investment in Australia since it’s wind renewable investment into Hallet 4 in 2009. “OGEO is pleased to partner with ACE, an experienced developer, focused on collaborating with local communities to develop clean energy projects that will generate positive benefits to the community and the environment. The partnership with ACE launches our revived focus on renewables investments, in line with our Carbon Neutral Vision which has significant strategic synergies with our long-term e-methane goals,” said Yo Otsuka, Director of OGEO.

The joint development activities of the partnership, jointly known as Project Genesis, will initially focus on the development of the Portfolio, with the ability for longer term collaboration.