Ark Energy Corporation Pty Ltd (an Australian subsidiary of Korea Zinc Company Ltd), today (23rd December) announced to acquire a 100% interest in Epuron Holdings Pty Ltd (wind and solar energy developer in Australia).
Ark Energy will now leverage its parent company’s strong balance sheet to expand Epuron’s existing business model and leverage the group’s internal demand from the production of green non-ferrous metals and its own demand from green hydrogen production to fast-track the build-out of Epuron’s development portfolio.
Yun Choi, Chairman of Ark Energy, said that the acquisition would expedite Korea Zinc Group’s energy transition and contributes to Ark Energy’s long-term ambition to develop a new green energy export corridor from Australia to South Korea.
Martin Poole, Co-Founder of Epuron, said, “With the energy transition accelerating, it is a hugely positive step for us to be joining a group with Ark Energy’s track record and shared vision to scale up investment in renewable energy production in Australia.”
Subject to regulatory approvals, the acquisition is expected to be completed in the first half of 2022. Epuron has around 4.2 GW of early-stage development focusing on wind and solar sites in Queensland, New South Wales and Tasmania. It has a further investigation pipeline of about 4.8 GW.