Ark Energy Corporation, the clean energy platform of the world's largest producer of zinc, lead and silver Korea Zinc, has completed the acquisition of Australian renewable energy developer Epuron Holdings with its 9 GW wind and solar portfolio.
The acquisition process for 100% stake was initially announced in December 2021. It has now been completed and includes 4.2 GW of early-stage utility scale wind and solar projects across National Electricity Market (NEM) states, with focus regions being Queensland, New South Wales (NSW) and Tasmania.
Part of the acquired capacity is an investigation pipeline of 4.8 GW, 7 MW of fully contracted off-grid solar generation assets and a 50% stake in renewables monitoring and forecasting technology company Fulcrum3D.
It will allow Ark Energy to deliver 5.86 GW of projects under existing joint development agreements (JDA) with high-quality counterparties.
Post the acquisition, Epuron business has been integrated into Ark Energy. The latter said its development team will continue to operate under the Epuron brand for now, headed by Head of Development Paul Stangroom.
"The acquisition of Epuron is an important milestone for Ark Energy to become a world class green independent power producer and green hydrogen business," said Ark Energy Founder and Chairman, and Vice Chairman of Korea Zinc, Yun B. Choi.
Ark Energy exists to decarbonize the energy supply of its parent Korea Zinc and other 3rd party commercial and industrial customers with renewables and green hydrogen.
Korea Zinc's wholly owned subsidiary Sun Metals Corporation that operates zinc refinery in Queensland aims to go 100% renewable for its operations by 2040, making it the world's 1st major refinery to join RE100. Ark Energy is to support the refinery to produce green zinc.