Ark Power Corp, the offshoot of Korea Zinc, has sealed the acquisition of a 9GW pipeline of wind and photo voltaic initiatives because it plots its enlargement into inexperienced hydrogen manufacturing.
Ark Power has accomplished the acquisition of Epuron Holdings, initially introduced simply earlier than Christmas final 12 months, that features a pipeline of 4.2GW of “early stage” utility scale wind and photo voltaic initiatives, and an “investigation” pipeline of one other 4.8GW.
The corporate, linked to massive Solar Metals zinc smelter close to Townsville that is among the largest single power clients within the nation, says the acquisition is its most important thus far in its inexperienced power transition.
“The acquisition of Epuron is a vital milestone for Ark Power to develop into a world class inexperienced impartial energy producer and inexperienced hydrogen enterprise,” stated Yun B. Choi, the founder and chairman of Ark Power and vice chairman of Korea Zinc.
Ark Power has additionally taken a 50 per cent stake in renewables monitoring and forecasting expertise firm Fulcrum3D, and has invested closely in rising gravity storage expertise supplier Power Vault.
It has additionally dedicated to constructing a 1MW electrolyser at its Townsville zinc refinery – to fulfill its trucking wants – and has massive plans for inexperienced metals.
Ark Power vice chair Kathy Danaher stated the acquisition of Epuron will assist speed up its power transition and ship low carbon futures for Korea Zinc and different third-party industrial and industrial clients.
The event workforce might be led by Epuron’s Paul Stangroom, and can look to fast-track the event of the early-stage initiatives and the rising investigation pipeline.
He’ll work alongside Ark Power’s head of economic, technique and operations, Dan Hamel, because the group’s enterprise mannequin expands from a mission developer to at least one that additionally builds, owns and operates renewable power initiatives long-term.
Epuron’s co-founders Martin Poole and Andrew Durran will serve on an advisory panel to Ark Power for an preliminary interval of six months submit completion.
“Ark Power is a superb new dwelling for the Epuron workforce. We’re shifting ahead in good fingers and with a chance to play an even bigger function in Australia’s power transition,” Poole stated in a press release.
Epuron was established in 2003 and its first improvement approval was the Cullerin Vary wind farm in NSW (pictured above), which was commissioned in 2009. Its most up-to-date improvement approval was issued for the Boulder Creek wind farm in Central Queensland.
Different initiatives embrace the Specimen Hill, Lotus Creek and Chalumbin wind initiatives in Queensland, and the Bowman’s Creek wind mission in NSW (over which AGL has an possibility)_ and the St Patrick’s Plains mission in Tasmania.