Zenith Energy bags three accolades at Asian Power Awards 2024

The Independent Power Producer’s win was in recognition of its leadership in the energy transition and commitment to an ESG-focussed growth strategy.

Zenith Energy triumphed at the Asian Power Awards 2024, clinching accolades in the Independent Power Producer of the Year - Australia, Solar Power Project of the Year - Australia, and Wind Power Project of the Year - Australia categories.

Unique sustainability credentials and in-house capabilities

Zenith Energy, based in Western Australia, is the country’s leading Independent Power Producer (IPP). It boasts a contracted capacity that is now 40% from renewable energy. Through its dedicated 238 full-time staff, Zenith has transformed its portfolio to be on track to meet its net-zero target by 2035.

With its unique sustainability credentials and in-house capabilities, the company is recognised as the IPP with the largest contracted capacity of renewable energy for remote, off-grid power in Australia’s resources and mining sector.

In FY24, Zenith constructed Australia’s largest off-grid renewable energy hybrid power solution for the Liontown Kathleen Valley Lithium mining operation. The company has successfully increased its EBITDA run rate through an enhanced earnings profile, characterised by a longer weighted average contract life and reduced customer concentration risk. It also has a higher quality of counterparties and mines, featuring longer mine lifespans and better positioning on cost curves. Additionally, it implemented favourable debt facility terms.

Over the past year, Zenith has led the decarbonisation of most of Australia’s remote off-grid mining operations for critical minerals and precious metals, as well as all grid-connected microgrids for green-titled land developments in Western Australia’s main grid – the South West interconnected system (SWIS). This achievement is facilitated by Zenith’s vertically integrated model, which encompasses the design, funding, construction, ownership, operation, and maintenance of its power solutions. This approach ensures clients receive safe, reliable, and affordable paths to net zero, and allows Zenith to deliver the lowest carbon-intensity energy solutions in the country.

Furthermore, Zenith increased its focus on ESG factors. The company remains the only IPP in Australia with a net-zero target that includes interim milestones, positioning itself to achieve net zero across scope 1, 2, and 3 emissions by 2035.

Zenith’s commitment to social responsibility is reflected in the accumulation of 4 million hours without a lost-time injury; the support it gives to 80% majority-owned indigenous joint venture power businesses as part of its First Nations engagement; and the provision of more renewable energy and lower electricity bills to residential and commercial consumers. 

Kathleen Valley Solar PV and Wind Power Solution

Zenith Energy has designed, constructed, and is successfully operating this innovative power solution, which is transforming the energy landscape of Australia’s mining sector. Providing a minimum of 60% of the project’s electricity needs from renewable sources, it marked the highest renewable energy fraction for off-grid power in the mining industry at the time of its commissioning.

The 95MW hybrid power solution consists of a 30MW wind farm, a 16MWp relocatable fixed-axis solar PV array, and a 17MW/19MWh battery energy storage system (BESS). Aside from this, it incorporates grid-forming inverters, synchronous condensers, 27MW of LNG generation, and 5MW of diesel standby generation—a combination that ensures optimal renewable energy security and reliability for the mining operation.

A standout feature of this power solution is its ability to operate in “engine off” mode. When renewable energy generation is sufficient, it can supply 100% of the electricity required by mining operations. This capability, unique at such a scale in the Australian mining sector, enables the project to exceed its target renewable energy fraction of 60%.

Furthermore, the energy solution at Kathleen Valley is a significant step toward achieving Net Zero emissions for Liontown Resources. It utilises the 5B Maverick solar PV system, which is modular and boasts the lowest mobilisation and demobilisation costs available globally. This flexibility allows the project to adapt easily to planned expansions, as well as complements the wind and BESS components effectively.

To further increase renewable energy fractions to 100%, Zenith is pursuing a systems approach that involves shared infrastructure—combining generation, storage, and network solutions. This benefits neighbouring mining operations and can deliver the most cost-effective path to Net Zero for the greater Goldfields region of Western Australia.

Zenith Energy’s Kathleen Valley project is also the first formal First Nations Engagement Agreement for an IPP in Australia. The agreement’s prime objectives include promoting the Native Title Owners, Tjiwarl participation in Zenith’s projects in the country; fostering a shared sense of well-being and values for regional success; and forming a joint venture to advance capabilities and self-determination in providing power and power-related services within their ancestral lands and beyond.

The prestigious Asian Power Awards honours exceptional companies that have taken game-changing steps to address the effects of the climate crisis and meet the growing demand for energy. It also provides a platform for industry players to network, share their experiences, and learn from one another.

The Asian Power Awards is presented by Asian Power Magazine. To view the full list of winners, click here. If you want to join the 2024 awards programme and be acclaimed for your company's revolutionary innovations and initiatives in the power industry in Asia, please contact Danica Avila at [email protected].