Korea Zinc Chooses Hanwha for Australian Battery Storage Project

Korea Zinc Inc., the world's largest lead and zinc smelter, has announced that its Australian subsidiary, Ark Energy, has selected Hanwha Corp. as the preferred partner for a battery energy storage system (BESS) project in Australia. The partnership comes as part of ongoing efforts to develop renewable energy solutions within the region.

Korea Zinc and Hanwha Group previously formed a strategic partnership in September 2022, facilitated by a share exchange between Ark Energy and Hanwha Impact Co.'s US-based subsidiary, HPS Global. This collaboration marks a continuation of their joint focus on renewable energy initiatives.

A task force comprising members from both companies is expected to be formed by the end of this month to discuss project details, with the goal of finalizing a supply contract by early next year. Korea Zinc has estimated that the contract could be worth several million US dollars.

Ark Energy will manage the development of the main project, while Hanwha will handle the design, procurement, and commissioning of the battery storage systems. Construction is anticipated to begin in the third quarter of 2025, with commissioning scheduled for completion by 2026.

The project aims to provide up to 275 MW of power capacity and 2,200 MWh of energy storage services to the New South Wales power market over a 14-year period, offering energy storage for eight hours each day. This initiative is intended to support the transition to renewable energy within the region and enhance energy reliability.