ACE Power Launches into the Australian Clean Energy Market with a 1.3 GW project pipeline

Sep 15, 2021

Australia has a new renewable ace up its sleeve following the launch of ACE Power, a vertically integrated renewable energy company focused on developing, building, owning and operating renewable energy assets. ACE Power has secured an impressive pipeline of solar, wind and battery storage projects with a combined generation capacity of approximately 1.3 gigawatts from local developer CleanGen Projects.

Backed by global clean energy holding, Pelion Green Future, ACE Power is developing 10 renewable projects around Australia that are set for completion between 2024 and 2025.

Committed to transitioning Australia to a clean energy future, the portfolio, once finalised, will help to strengthen and stabilise the Australian electricity network and is expected to produce over 2,702GWh of clean energy each year, equivalent to powering over 450,000 homes or removing 624,000 cars off the road. The construction of the pipeline is expected to create over 2,000 jobs with 100 service jobs for local communities.

FAST FACTS

  • Australia is currently 72% fossil fuel powered
  • Aging fossil fuel infrastructure – the average age of Australian coal fleets currently in operation is 39, the average life span is 40-50 years.
  • Australia is one of the biggest emitters of Carbon emissions per capita globally
  • Australia was ranked last out of 193 United Nations member countries for action taken to reduce global greenhouse gas emissions – The Sustainable Development Report 2021

Director of Development at ACE Power, Koovashni Reddy said “I am delighted to announce the formation of ACE Power and look forward to accelerating Australia towards an affordable, secure and reliable, clean energy grid.”

Reddy continued, “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. 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.”

Andy Scullion, Director of Operations at ACE Power and former Managing Director of Wirsol Energy where he delivered over 575 megawatts of both solar and battery storage projects across Australia, added: “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.”

ACE Power is funded by Pelion Green Future, a global clean energy holding established by entrepreneurs Alexander Samwer and Jeremias Heinrich. Mark Hogan, a highly experienced global solar entrepreneur brought the parties together.

Founding Partner, Jeremias Henrich said “We are very excited to make our debut in the Australian market and look forward to supporting ACE Power’s growth as they build and champion a clean energy future. 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.”