Category: Industry News

04 September 2024.

Success in the first funding round of the federal government’s expanded Capacity Investment Scheme (CIS) enables ZEN Energy to move quickly towards construction of its Solar River battery and solar farm, 110km north of Adelaide.

Federal Climate and Energy Minister Chris Bowen today announced ZEN’s 650MWh Solar River battery and 230MW solar farm project was chosen from among an over-subscribed first funding round.

The project will be able to dispatch up to 256MW of renewable power on demand and will add significant stability to the electricity grid as South Australia builds toward becoming 100% renewable by 2027 and a clean energy superpower through its investments in green manufacturing.

Engagement with the local community, Ngadjuri and People of the River Murray Traditional Owners and other important stakeholders has refined aspects of the project and will guide how a significant community benefits scheme is distributed.

This includes prioritising local employment and project suppliers from among First Nations-owned businesses.

Other key points:
• The Solar River project is ideally located on cleared pastoral land near the SA/NSW Interconnector and substation at Bundey, 110km north of Adelaide.
• CIS funding involves revenue underwriting for the Solar River project. This provides a safetynet that decreases financial uncertainty for investors and encourages more investment
when and where it is needed.
• ZEN has already modified the Solar River project design in response to community feedback, including relocating the planned transmission line.
• ZEN is in constructive negotiations with local Traditional Owner groups, including Ngadjuri Nation Aboriginal Corporation and Mid-Murray Aboriginal Corporation, regarding the execution of Community Benefit Agreements that will commit the Solar River project to ongoing engagement, cultural heritage management, employment, procurement and funding for the life of the project.

Quotes attributable to ZEN Energy CEO, Anthony Garnaut:

“ZEN is doing things differently and in partnership with local communities to achieve a successful renewable energy transition.

“We seek to build renewable energy projects in regions where people don’t have a reliable energy supply, and we build projects on land that has already been cleared. Designing and delivering benefits for people and nature is a clear and logical priority for local communities.”

Media contact: Paul Sheridan, 0410 516 656, paul.sheridan@zenenergy.com.au

27 August 2024.

ZEN Energy has secured a long-term agreement for the majority of solar energy to be generated at New South Wales’s recently financed energy development, the Quorn Park Hybrid Project near Parkes in the central west.

The new 10-year Power Purchase Agreement (PPA) with renewable energy developer Enel Green Power Australia (EGPA) for the majority of the supply from its solar farm will enable ZEN to add a further 68 megawatts capacity to its existing generation portfolio, which is on track to double in 2024 to 2 TWh per annum. The transaction is financed by a group of banks including Westpac and the Bank of China.

The Quorn Park Hybrid Project, a 98 MWDC solar farm and 20 MW/40MWh battery energy storage system, achieved financial close in July and is targeted to be complete in the first half of 2026, providing clean electricity to more than 45,000 homes.

The project is located on Wiradjuri Country, approximately 10km north west of Parkes and close to the Central West Renewable Energy Zone. The project site is closer in proximity to substantial demand loads compared to many other sites being developed in NSW. The site is flat land, largely cleared and used for grazing and dryland cropping.

EGPA, a joint venture company co-owned by Enel Green Power and INPEX Renewable Energy Australia Pty Ltd, currently operates three renewable energy plants totalling 310 MW of installed capacity powered by solar. EGPA currently has a 76 MW wind project in final stages of commissioning in Western Australia and a 93 MW solar project in commissioning in Victoria.

Quotes attributable to ZEN CEO Anthony Garnaut:

“This new partnership with EGPA represents a maturing of ZEN’s eco-system of sustainability-driven renewable energy suppliers and marks a new level of relationship with our banking partners. We are now well-placed to double our generation portfolio this year to 2 TWh per annum.

“ZEN has also deliberately sought to align with projects like Quorn Park that will be positive for nature. Australia’s transition to clean electricity can be achieved in time to help drive down the country’s emissions through projects like this that also ensure our unique wildlife and biodiversity is safeguarded.”

Quotes attributable to EGPA CEO Werther Esposito:

“We’re very pleased to enter this new partnership with ZEN Energy, an Australian leader in sustainable energy solutions. Our recently announced Quorn Park Hybrid Project, our first project in New South Wales, is targeted to start construction in the coming months and be fully operational in the first half of 2026.

“We look forward to working alongside ZEN Energy and our project partners and contractors to successfully deliver a project that provides significant value to the local community and our stakeholders.”

Media enquiries:

(Enel) Sunny Rutherford, 0418 357 403, sunny.rutherford@enel.com

(ZEN) Paul Sheridan, 0410 516 656, paul.sheridan@zenenergy.com.au