Korea Zinc – the world’s largest producer of zinc, lead and silver – has revealed that its Australian renewables unit, Ark Energy, has acquired utility-scale solar developer Epuron Holdings, after obtaining regulatory approvals earlier this week.
Korea Zinc’s Australian subsidiary, Ark Energy, has completed its purchase of Sydney-based renewables developer Epuron Holdings, in a deal that gives it access to a potential 9 GW pipeline of utility-scale wind and solar PV projects.
Ark Energy said the acquisition includes 4.2 GW of early-stage utility-scale wind and solar development projecta across Australia’s National Electricity Market (NEM), with a focus on the states of Queensland, New South Wales, and Tasmania. It will also acquire 4.8GW of projects in the investigation stage and a 50% stake in Fulcrum3D, a renewables monitoring and forecasting specialist. In addition, the deal includes the acquisition of Epuron’s 7 MW portfolio of fully contracted off-grid solar assets in the Northern Territory.
Ark Energy Chairman and Korea Zinc Vice Chairman Yun Choi said the purchase, which was first announced in December, will support its ambition to become a major domestic supplier and exporter of green hydrogen and fast track the parent company’s vision to become one of the world’s largest producers of green zinc.
“The acquisition of Epuron is an important milestone for Ark Energy to become a world-class green independent power producer and green hydrogen business,” he said.
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