ZEN Energy and HD Renewable Energy Partner to Develop Storage and Hydrogen Projects in Australia, Taiwan, and Japan
Key Ideas
- ZEN Energy partners with HD Renewable Energy to focus on energy storage and green hydrogen projects in Australia, Taiwan, and potentially Japan.
- HDRE acquires 9.7% of shares in ZEN Energy for AU$43 million, aiming to support the company's growth strategy.
- ZEN Energy achieves milestones with the construction of its Templers battery storage project in South Australia and successful energy storage capacity awards in Victoria and South Australia.
- Taiwan aims to have 90GW of energy storage by 2030, with NHOA commissioning large-scale battery energy storage systems in Taiwan recently.
ZEN Energy has entered into a strategic partnership with HD Renewable Energy (HDRE) to collaborate on developing energy storage and green hydrogen projects in Australia, Taiwan, and potentially Japan. The partnership involves HDRE subscribing for 9.7% of shares in ZEN Energy for AU$43 million. ZEN Energy's CEO, Anthony Garnaut, highlighted that the focus will be on storage asset development to address renewable generation intermittency.
ZEN Energy has made significant progress despite challenges, commencing construction on its Templers battery storage project in South Australia and securing a long-term electricity supply contract with the South Australian government. The company also succeeded in the recent energy storage capacity tender rounds in Victoria and South Australia.
Additionally, Taiwan's energy storage needs are emphasized, with Taiwan Cement Corporation stating the requirement for 90GW of energy storage by 2030 to accommodate new renewable energy capacity. Notably, NHOA has recently commissioned large-scale battery energy storage systems in Taiwan, demonstrating the growing interest in energy storage solutions. The article portrays a positive sentiment towards the expansion of energy storage and green hydrogen projects in the specified regions, highlighting the potential for further growth and development in the renewable energy sector.
Topics
Utilities
Renewable Energy
Energy Storage
Partnership
Market Analysis
Renewable Projects
Business Development
Electricity Supply
Strategic Investment
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