Ally Power has signed a memorandum of understanding (MoU) with the Aurora Pacific Economic Zone and Freeport (APECO). As per the MoU, the company is assessing a potential investment of about $200 million for a proposed 128 MW power generation project using hydrogen-based technology. The planned facility will be developed on a 20-hectare site inside the ecozone and has been identified as one of the priority projects under review through this arrangement.
The MoU sets out a broad framework for cooperation, allowing both parties to examine opportunities related to clean energy, power generation, and associated infrastructure projects within the ecozone, subject to further studies and regulatory approvals. Ally Power will take the lead on technical and investment-related studies for potential projects, while APECO will facilitate coordination within the ecozone in accordance with its mandate to promote sustainable economic development in Aurora.
Additionally, the agreement enables technical assessments, coordination, and planning activities, while noting that detailed project terms will be covered under separate agreements at a later stage. Any future power supply arrangements linked to the proposed project would be structured in line with the Electric Power Industry Reform Act and applicable Energy Regulatory Commission rules. Furthermore, Ally Power is also considering a partnership with the Aurora State College of Technology to establish a Clean Energy Center of Excellence aimed at building student capabilities in green energy technologies.
