The unique deal sees Zenith take on responsibility for the Peel Renewable Microgrid, a vertically integrated generation, distribution, and retail business, supplying power to the Peel Business Park, a new industrial estate south of Perth being developed by DevelopmentWA, Western Australia’s State Government land developer.
The acquisition will see Zenith take ownership and operational control of the Peel Renewable Microgrid, including the 22kv electricity distribution network, the current 1.2MW solar array and 2.5MWh Battery Energy Storage System (BESS) as well as the smart grid connection to the South West Interconnected System (SWIS).
The onsite renewable generation and battery storage assets are expected to grow to upwards of 50MW over the next decade, matching the growth in the development area and customer numbers at the Peel Business Park.
The acquisition is the first step in our diversification strategy, and positions the company at the forefront of Australia’s energy transition.
Furthermore, Peel Renewable Energy represents an exciting opportunity to enter the urban microgrid segment in WA and leverages our knowledge of islanded generation infrastructure.
Given our extensive expertise in hybrid behind the meter generation and distribution, including in remote areas, the acquisition of the Peel Renewable Energy business aligns perfectly with our overall strategy and skillset, while also providing opportunity for growth and expansion.
It also continues to demonstrate Zenith’s commitment to increasing the proportion of renewable generation in our portfolio.
The expansion of the Peel Renewable Microgrid in coming years, and the ability to leverage this platform to establish similar new projects offers attractive growth opportunities within Zenith’s portfolio, which will be supported by staff at Peel Renewable Energy.
Management at Peel Renewable Energy will become part of the Zenith team, supporting development at the Peel Business Park and assisting in boosting operational capability and growth of the Peel Renewable Microgrid – the deal is an exciting opportunity for everyone involved.
Existing arrangements between Peel Renewable Energy and DevelopmentWA will continue, including the long-term contract to provide electrical infrastructure and renewable energy supply and services to customers in the Peel Business Park.
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