HD Renewable Energy (HDRE) announced an investment of NT$932 million (US$29.66 million) for a 9.7% stake in Australian electricity retailer ZEN Energy, marking its entry into the Australian power market. Approved at its October 7 board meeting, the investment sets the stage for joint ventures in energy storage, solar-storage projects, and infrastructure, combining HDRE's system integration capabilities with ZEN's expertise in Australian power trading for future international expansion.
The strategic partnership will leverage HDRE's Titan brand, delivering integrated hardware and software for electricity trading, forecasting, and risk management in Australia. With Australia's vast land, abundant sunlight, and favorable policies, HDRE is optimistic about opportunities in the country's liberalized energy market. After establishing a subsidiary in April, the company projects that by 2050, emerging technologies like green hydrogen could double or triple the market's size.
ZEN Energy, founded in 2004, specializes in renewable energy, energy storage, and power trading, with a mission to achieve "Zero Emissions Now" and a science-based goal to limit temperature rise to 1.5°C. The company recently partnered with DGA Energy Solutions Australia on a green hydrogen initiative aligned with Mitsubishi Corporation's decarbonization strategy. Currently supplying nearly 2 billion kWh annually, ZEN Energy is actively expanding into green hydrogen, green ammonia, and green steel.
Article translated by Vyra Wu
