Ark Energy, the Australian subsidiary of Korea Zinc, has acquired Australian clean energy developer Epuron.

Epuron develops utility-scale wind and solar energy in Australia.

Ark Energy will now have control of approximately 4,200 MW of early-stage development projects, many of which are wind and solar sites in Queensland, New South Wales, and Tasmania. Ark will also deliver around 5,860 MW of projects under existing Joint Development Agreements.

The company will also own approximately 7 MW of fully contracted off-grid solar generation assets in the Northern Territory. It will also own a 50% share in Fulcrum 3D, a renewables technology and data company that monitors and forecasts renewable energy sources.

Ark Energy plans to "fast-track the build-out of Epuron's development portfolio" by leveraging Epuron's production of green non-ferrous metals and Ark Energy's demand from green hydrogen production, Ark Energy chairman and vice chairman of Korea Zinc Yun B. Choi said.

Ark Energy was founded in 2021, with a mandate to decarbonise Korea Zinc's energy supply. Ark Energy aims to be the most competitive producer of green hydrogen globally.