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Ark Energy, an Australia-based renewable energy company owned by Korea Zinc, has reached financial investment decision for the AUD 1.3 billion (~ $9.09 billion) Richmond Valley Solar Farm & BESS in New South Wales. Korea Zinc approved the decision in Seoul on July 21, 2026. The financing package comprises of AUD 586 million (~ $409.79 million) in equity and AUD 716 million in debt. The priority stage includes 200 MW AC solar farm and a 275 MW / 2,200 MWh LFP BESS. The project received NSW planning approval in October 2025, federal environmental approval in December 2025 and grid connection approval in June 2026. Financial close is targeted for September 2026, followed by construction from October 2026. Operations are scheduled for January 2029 while peak construction is expected to support more than 850 direct and indirect jobs.
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