Korea Zinc to invest heavily in Australian wind power plant - South Korea

On the 21st, Korea Zinc, a major Korean non-ferrous metals company, announced that it had made the final investment in the Macintyre wind farm, which is under construction in Queensland, Australia, through its subsidiary Ark Energy.
The company announced that it had decided to invest in the wind farm and acquired a 30% stake in the project. The investment amount is 753 million Australian dollars (approximately 74.6 billion yen). The wind farm will be developed and constructed by Acciona Energy of Spain.
The plant, which is located southwest of Warwick in Queensland, is currently under construction. Construction of the 162 wind turbines began in March 2022 and is over 80% complete, with completion expected by 2023.
It is scheduled to begin commercial operation in August 2019. It is expected to be one of the largest wind farms in the world.
Energy has secured 30% of the plant's 923.4 megawatt generating capacity.
% will be supplied to Korea Zinc's Australian subsidiary, Sunmetal, which is equivalent to 21.8% of Sunmetal's annual electricity consumption (projected for 2024).
A Korea Zinc official said, "This decision will help us reduce carbon emissions at our Australian operations and our future business, Troika Dry.
"The investment in the wind power plant will help accelerate the realization of the new renewable energy business plan, which is one of the projects," he said.
This will be the first case of electricity generated through this project being sold to an outside party, and will serve as a foundation for the expansion of new renewable electricity businesses in Australia."
"We expect this will also provide further momentum to Korea Zinc's achievement of RE100 by 2040," he added.
Ark Energy is a leading Australian renewable energy company developing approximately 8 gigawatts of diversified renewable energy assets across three Australian states.
In February this year, the company was awarded permission to develop the Bowmans Wind Farm in New South Wales, a 335MW wind farm with 54 wind turbines.
This will be a power generation business.