South Australia-headquartered Zen Energy, the renewable energy player backed by high-profile economist and energy expert Ross Garnaut, is up for sale with its renewable generation and customer supply portfolio destined to change hands.
Zen confirmed it has appointed Brisbane-headquartered consultancy Rennie Advisory to run the sale process and said a number of Australian and international parties have already confirmed their interest.
“All parties have signed mutual confidentiality agreements and completed an expression of interest to participate in the transaction and material relating to that process are subject to this confidentiality,” the company said in a statement.
“We are mid-process and the precise nature of how we can partner with interested parties will be determined in the coming months.”
Zen, which was established in 2004, develops and contracts renewable energy generation and storage assets and sells the firmed energy to commercial and industrial businesses under power purchase agreements (PPAs).
The company’s portfolio includes more than 800 MW of contracted battery energy storage and about 2 TWh of long-term solar and wind PPAs.
It also has exclusive access to more than 950 MW of additional battery energy storage and 310 MW of solar through its joint venture (JV) with Taiwan-headquartered equity partner HD Renewable Energy Co (HDRE).
Announced in early 2025, the Zebre JV is developing multiple big battery and solar farm projects across three Australian states. The pipeline includes the Solar River project, a 256 MW / 650 MWh battery and 210 MW solar farm proposed for northeast South Australia, and the Hookey Creek 200 MW battery and 100 MW solar project planned for southeast Queensland.
Other projects include the 105 MW / 420 MWh Wagga North battery in the New South Wales Riverina region, the 180 MW / 360 MWh Noblevale battery in Queensland, and the 210 MW North Yarragon battery project in Victoria’s Gippsland region.
In addition to the JV pipeline, Zen is progressing through the late stages of commissioning with its 111 MW / 290 MWh Templers battery project in South Australia and has 1,540 MW of pumped hydro projects in development.
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