Korea Zinc’s Australian subsidiary, Ark Energy, has formed a strategic partnership with Hanwha Energy to develop one of Australia’s largest battery energy storage system (BESS) projects. Located in the southern part of Casino City, New South Wales, the Richmond Valley BESS project is designed to enhance power grid stability and aid in the country’s shift toward renewable energy sources.
Announced on March 19, the Richmond Valley BESS project will have a power capacity of 275 megawatts (MW) and a storage capacity of 2,200 megawatt-hours (MWh). The system will be able to operate continuously for up to eight hours on a single charge, storing excess energy produced by renewable sources like wind and solar. This stored energy will then be released during periods of peak demand, improving grid reliability.
Following a year-long competitive bidding process, Ark Energy selected Hanwha Energy as the supplier for the BESS project in November of the previous year. Under the terms of the agreement, Hanwha Energy will provide Ark Energy with the complete BESS system, which includes batteries, inverters, and commissioning services.
This collaboration represents not only a significant step in Australia’s renewable energy investment but also marks a pivotal move for Korea Zinc, as Ark Energy enters the Australian renewable market through its decarbonization-focused “Troika Drive” growth strategy. The project emphasizes Korea Zinc’s long-term commitment to reducing carbon footprints and contributing to the energy transition.
A representative from Korea Zinc noted the importance of the partnership, stating, “This collaboration is a key part of our future growth strategy,” and added, “The two companies will continue to cooperate in future business endeavors.”
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