ACEN, the renewables subsidiary of Philippines conglomerate Ayala Corporation, will work with a corporation representing the Yindjibarndi aboriginal people in Australia to build a 3GW hybrid renewable energy project on their territory.
A deal signed by the Yindjibarndi Aboriginal Corp (YAC) and ACEN paves the way to develop 3GW of wind, solar and battery storage projects on Yindjibarndi land in Western Australia’s Pilbara region.
The parties penned an agreement last year to set up the Yindjibarndi Energy Corporation (YEC), which will now develop the project at Yindjibarndi Ngurra, a 13,000km2 area belonging to the Yindjibarndi people.
ACEN said an initial investment of A$1 billion ($682 million) would be made to jointly develop 750MW of wind, solar and storage capacity, with subsequent stages targeting up to 3GW of combined renewable energy capacity.
Under the terms of the ACEN deal, the YAC would receive an equity stake of 25-50% of all projects, and would need to approve all construction that takes place on the Yindjibarndi Ngurra territory.
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