Already a subscriber?New York-headquartered Stonepeak is backing Zen Energy’s $200 million “big battery” in South Australia, with a debt package locked in alongside French bank Natixis.
Ross Garnaut at the National Press Club in Canberra in February. He is a large shareholder and a director of Zen Energy.Zen chief executive Anthony Garnaut said supply chain pressures in the renewable energy sector were starting to ease. Large items of equipment and specialist parts were now easier to access after delays caused by the COVID-19 pandemic and demand from major infrastructure players around the world.
Mr Garnaut said investors in renewable energy projects were now dealing with a more stable environment in assessing projects, after the sharp rises in interest rates around the world and with inflation now slowing. “I think we’re at a point where all the elements are stabilising,” Mr Garnaut said. “Different shareholders had different aspirations,” Mr Garnaut said of the split yesterday. “I think it’s fair to say the joint venture partners were going in different directions.“