Ark Energy gets nod for $714M Aussie clean energy project
Korea Zinc won Australian government approval on Wednesday for a $713.8 million battery storage and solar project through its Brisbane subsidiary Ark Energy. The Richmond Valley facility in New South Wales will store 2.2 gigawatt-hours using lithium-iron phosphate batteries capable of delivering 275 megawatts for 8 hours. Construction targets completion by late 2027 to power 175,000 homes annually while cutting carbon emissions by 370,000 tons.
Ark Energy will build and operate the complex under a 14-year service agreement secured in December 2023. Hanwha Energy batteries account for 52 percent of the project’s total costs, combining storage with a 200-megawatt solar plant. New South Wales plans to eliminate coal power by 2028 and supports long-duration energy storage systems to enhance grid stability. Chair Choi Yun-birm called the venture a model for Korean-Australian green energy cooperation.
