France's TagEnergy acquires Sydney-based ACE Power
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The news: French renewable energy owner TagEnergy has acquired ACE Power, an Australian renewable energy developer with a six gigawatt (GW) pipeline of battery, wind and solar projects.
The numbers: TagEnergy, which entered the Australian market in 2022, has 1.33 GW of wind assets operating or under construction, including 85% of the 1.33 GW Golden Plains wind farm project.
With the acquisition, TagEnergy will now control 10 GW of completed or in development renewable energy assets, making it one of Australia's largest developers in the sector.
The context: TagEnergy scooped up the portfolio from Pelion New Energy and a handful of minority stakeholders. Twenty-seven of ACE Power's project developers will join TagEnergy.
TagEnergy's most recent major milestone was completing the Golden Plains project, which became the largest wind energy producer in Australia in June.
ACE Power, which was established four years ago, is developing the Hillview Energy Hub, a proposed co-located wind and solar farm with a 1 GW firming battery part of the under-development New England Renewable Energy Zone.
What they 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,” TagEnergy CEO Franck Woitiez said.
“We had a vision to create a market leading development team and pipeline of transformational projects, and ACE has achieved this in four short years,” ACE Power founder and managing director, Andy Scullion said.
The source: TagEnergy media release
