British billionaire Sanjeev Gupta has purchased a majority stake in Adelaide energy company Zen Energy. Zen Energy is focused on renewable energy and storage technologies and the joint businesses of Gupta’s GFG Alliance and Zen will be named SIMEC Zen Energy as reported by ABC News.
It has been a priority for the company to take decisive remedial steps and combining our power expertise developed in the UK and Zen’s local knowledge in Australia, thus making this a natural partnership
– Sanjeev Gupta
The GFG Alliance boasts of 500 megawatts of operating power in the UK and another 500 megawatts still under construction.