TagEnergy scoops 6 GW of renewables, energy storage projects with ACE Power acquisition

Portugal-headquartered TagEnergy has acquired Sydney-based early-stage developer ACE Power that adds approximately 6 GW of battery energy storage system (BESS), wind and solar projects to its renewable energy portfolio,

ACE Power has been acquired from owner, majority-shareholder and Munich-based Pelion New Energy, plus several minority stakeholders, which includes Japanese energy company Osaka Gas.

ACE Power founder and Managing Director Andy Scullion, who will lead TagEnergy’s development function in Australia, said ACE had a vision to create a pipeline of transformational projects and achieved this in four years.

“We are very excited about partnering with TagEnergy. Combining our businesses will supercharge our collective growth, and we are ambitious to take the business to the next level,” Scullion said.

TagEnergy has 1.33 GW of renewable energy projects under construction and operation in Australia, including the largest onshore wind project underway in the Southern Hemisphere, Victoria’s 1,333 MW Golden Plains Wind Farm.

Adding to its own developments TagEnergy will have a 10 GW pipeline of renewable energy projects across the nation.

The integration of ACE Power’s portfolio includes multiple solar+BESS hybrid projects, the 101 MW Yabulu Solar Farm, 10 BESS assets totalling more than 12 GWh, and eight wind farms, including the Hillview Energy Hub in New South Wales (NSW) comprising 200 MW of wind, 250 MW solar and a 1 GW / 8 GWh BESS.

TagEnergy Founder, Chief Executive Officer and former head of Neoen Australia, Franck Woitiez said TagEnergy and ACE Power share the same entrepreneurial spirit and bold ambition.

“By bringing our strengths together we’re creating an Australian clean energy champion,” Woitiez said.

“We’re integrating ACE Power’s deep expertise in early-stage development with our capabilities in commercialisation, delivery and long-term investment, underpinned by a clear energy management strategy that focuses on delivering greater value for the market, our customers and partners.”

ACE Power’s third-party co-development projects will continue under the TagEnergy banner.

From pv magazine Australia