Renewables retailer ZEN Energy splits from SIMEC Group
Hallett wind farms, South Australia. Author: Ian Sutton. License: Creative Commons.
South Australian renewable energy retailer ZEN Energy has split from entrepreneur Sanjeev Gupta’s SIMEC group of companies.
According to an announcement, SIMEC ZEN Energy has de-merged into SIMEC Energy Australia and ZEN Energy, with the latter retaining the energy hardware solutions and retail energy businesses from the previous entity.
“This new structure will allow ZEN Energy to accelerate progress on its strategy to increase competition in the energy market and lower costs through use of renewable energy. We now have the structure in place to deliver integrated energy solutions, combining onsite, sustainable, energy hardware with renewables-backed energy supply contracts,” said Ross Garnaut, director of ZEN Energy.
Garnaut will now lead the business alongside Raymond Spencer as fellow director and Geoff Titus as CEO.
Established in 2004, ZEN Energy combined with SIMEC in 2017. Among the company’s existing clients are the government of South Australia, Electrolux and Bickford’s Group, among others. The firm says it seeks partnerships with new utility-scale renewable energy projects across Australia.