In the past week, more than $700 million of new solar investment has been announced, underscoring the pace of investment in renewable generation in New Zealand. Meridian Energy is starting construction of its $227 million, 130MW Ruakākā Solar Farm in Northland and Genesis Energy is acquiring rights to develop a $487 million, 271MWp solar farm near Rangiriri in the Waikato.
Bridget Abernethy, Chief Executive of the Electricity Retailers’ and Generators’ Association of New Zealand (ERGANZ), says these announcements show New Zealand is in the midst of a renewable investment boom.
“Over the past year, generators have been investing heavily in new renewable energy projects, and this week’s announcements are great examples of companies building new supply where New Zealanders need it most.
This energy infrastructure is low-emissions, renewable, and strengthens New Zealand’s energy security.”
Abernethy said generation is spreading across the country, bringing supply closer to the businesses and communities that use it.
“Alongside this week’s announcements, Contact has lifted output in its geothermal sites in the central North Island, is building solar near Christchurch Airport and a grid-scale battery at Glenbrook; while Mercury is progressing windfarms in Southland and Northland, and adding capacity at its geothermal station near Taupō.
The growing footprint of renewable generation across New Zealand strengthens regional supply and keeps the system running more smoothly, as we move away from concentrated generation in the South Island hydro lakes.”
These projects, harnessing New Zealand’s natural resources, are part of a broader programme of renewables investment. This growing wave of construction and development is great news for Kiwi households and businesses, Abernethy says.
“It means more clean electricity, more regional jobs and stronger resilience in dry or still periods as storage, hydro, geothermal and flexible demand work alongside wind and solar. The pipeline is significant and getting it built will depend on clear consenting settings and steady policy so companies can continue to invest with confidence.”
