The Ross Garnaut-founded South Australia (SA)-based Zen Energy has entered administration with the Australian Securities and Investments Commission (ASIC) reporting a notice of application for winding up order has been received.
The order was commenced by the plaintiff SA Power Networks on 26 June 2026 and will be heard on 5 August 2026 at the SA district federal court.
According to reports in SA media outlets Zen Energy has sold its infrastructure assets and appointed adminstrators, McGrathNicol Restructuring partners Rob Smith and Jason Preston.
An Across Government Electricity Retail Agreement with Zen Energy to supply 100% renewable electricity to the SA government was worth an estimated $1.5 billion (USD 1 billion).
A government spokesperson has told local media electricity supply to public authorities previously buying electricity from Zen Energy has now transitioned to AGL as SA’s default electricity retailer of last resort, under established regulatory arrangements.
Co-founder Ross Garnaut had resigned from the company in May 2026, replaced by new chair Mark Butcher.
Commitments it did not fulfil for the SA government include a 280 MW solar farm near Whyalla, and a 100 MW utility battery near Port Augusta, due to third-party financing issues, local media InDaily reports.
The Australian Energy Regulator (AER) announced on 3 July 2026 conditional approval to Zen Energy Retail to transfer electricity retail authorisation to Zen Energy Retail Holdings.
The approval was opposed by SA Power Networks.
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