Korea Zinc’s Australian subsidiary Ark Energy has inked a deal with Hanwha Energy to develop one of Australia’s largest battery storage systems in New South Wales.
The Richmond Valley project will feature 275 megawatts of power capacity and 2,200 megawatt-hours of storage, capable of operating continuously for up to eight hours when fully charged. This extended runtime is essential for storing excess renewable energy and releasing it during peak demand periods.
Hanwha Energy, selected as the preferred supplier after a year-long competitive bidding process that concluded in November, will provide a comprehensive battery energy storage system including batteries, inverters, and commissioning services.
The project is underpinned by a long-term energy supply agreement that Ark Energy secured with the New South Wales government in December 2023. It represents a key component of Korea Zinc’s “Troika Drive” growth strategy, which focuses on decarbonization initiatives.
A Korea Zinc representative described the collaboration as an important element of the company’s future growth plans, noting that the two Korean industrial giants intend to pursue additional business opportunities together.
The partnership highlights increasing Korean corporate investment in Australia’s rapidly growing renewable energy infrastructure market.
