Zen Energy, HDRE target 1 GW Australian energy storage

South Australia-based clean energy generator and retailer Zen Energy has teamed up with AUD 1.3 billion ($804 million) Taipei-listed developer HD Renewable Energy (HDRE) to launch a green energy investment and asset management platform focused on solar and energy storage.

In a statement, Zen said new platform Zebre will focus on developing 400 MW of solar generation capacity and 1 GW of energy storage across projects in four Australian states. The JV will also look at developing energy storage assets in Taiwan and, potentially, other countries, such as Japan.

The Solar River PV and battery energy storage project being developed by Zen, near Robertstown, around 120 km north of Adelaide, has been identified as the platform’s first investment.

That project, successful in the first funding round of the federal government’s Capacity Investment Scheme, will deliver a 210 MW solar farm and 256 MW battery energy storage system with at least three hours’ storage capacity. The site will connect to the Australian grid via the new Bundey substation constructed as part of the EnergyConnect electricity transmission infrastructure project.

Zen said it has entered into a tolling agreement for Solar River, as part of the Zebre JV, to ensure the project moves quickly to financial close. Construction is expected to start in 2026.

Zen CEO Anthony Garnaut said Zebre has scope to expand quickly beyond the initial 1.4 GW of solar and energy storage projects.

Federal utilities body the Australian Energy Market Operator (AEMO) has forecast the nation will need at least 22 GW of energy storage by 2030 – a more than 700% increase.

“Long-duration battery storage, as well as the significant benefits of deep storage that pumped hydro provides, is the critical ingredient to ensuring a reliable, steadfast supply of power as Australia transitions away from fossil fuels,” said Zen’s Garnaut. Batteries will help secure “Australia’s place at the head of the rapid worldwide shift to clean energy and [realize] the economic opportunities of becoming a renewable energy superpower dependent on having global partnerships,” added the CEO.

The launch of the Zebre platform, 70% owned by HDRE, comes after Zen and HDRE signed off on an AUD 43 million equity transaction late in 2024.

That partnership is focused on the development of battery energy storage and green hydrogen projects in Australia, Taiwan, and elsewhere.

HDRE said it plans to leverage its resources and Zen’s expertise in the Australian electricity market to advance its market presence and expand into new regions as part of its broader strategy to become a global leader in smart energy.

The Taiwanese company said it is targeting the development of 600 MW of solar and 1.5 GW of energy storage capacity in Australia. It is also planning to deliver 400 MW of solar and 2.6 GW of energy storage in Japan and 1 GW of solar capacity in the Philippines.

From pv magazine Australia.