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Kiwi joint venture plans New Zealand’s biggest solar farm on North Island

Source：www.pv-magazine-australia.com

Aotearoa New Zealand’s Nova Energy has partnered with gentailer Meridian Energy to build the 400 MW Te Rahui solar farm, to become the country’s largest, while more solar projects are expected to quickly come on line following the government’s passing its fast-track approvals bill into law.

DECEMBER 23, 2024 EV FOLEY

Image: Nova Energy

Aotearoa electricity gentailers Nova Energy has signed a non-binding term sheets with Wellington-headquartered Meridian Energy in relation to the approved $542 million (USD 338.9 million), 400 MW Te Rahui solar farm.

Located at Rangitāiki, 35 kilometres east of Taupo, Nova and Meridian intend to enter into binding agreements in early 2025 including power purchase agreements for the electricity produced from the solar farm, with offtake shared 50-50 between the two parties.

Nova Energy, owned by the Todd Corporation, received approvals for in July 2024 for the 900,000 panelled Te Rahui Solar Farm, that will be built on a 1,022 hectare dairy farm.

Meridian Chief Executive Neal Barclay said the joint venture will be a great example of how collaboration can move big projects forward for the benefit of electricity users.

“At 400 MW, Te Rahui is a big project and sharing the investment and offtake makes strong commercial sense for both parties, while the project will also benefit home and business customers by further strengthening security of supply,” Barclay said.

The project is intended to reach financial investment decision (FID) in the first quarter of 2025 and construction will be carried out in two stages, each involving the build of a 200 MW solar plant.

Te Rahui solar farm will produce enough electricity to power around 100,000 homes and will include a new substation to connect to New Zealand’s national network operator Transpower’s 220 kV transmission line.

The name, Te Rahui, embodies a traditional Māori practice of rāhui, which focuses on the preservation, protection, and reservation of nature’s bounty.

In line with this spirit, Nova has initiated an integrated environmental and social programme that includes significant restoration of the environment and meaningful engagement with mana whenua.

Nova’s first2.1 MW Kapuni solar power plant, located in Taranaki, 330 kilometres north of Wellington, has been in operation since 2021, and was the largest solar farm in New Zealand at that time.

Meridian Energy recently moved to an advanced stage of construction on its grid-scale battery at Ruakākā Energy Park, 140 kilometres north of Auckland, and progressed other solar and battery projects as part of a $3 billion investment pipeline through to 2030.

Lodestone’s Haldon solar farm development is included in the Fast-track approvals bill.
Image: Lodestone Energy

Fast-track Approvals Bill

The Nova-Meridian collaboration comes as the New Zealand government passed into law it’s Fast-track Approvals Bill.

The Fast-track Approvals Bill establishes a permanent fast track approvals regime for projects including 22 renewable energy infrastructure projects, creating a one-stop shop for regionally and nationally significant projects.

Critics have voiced concerns the process may bypass existing environment protections.

The government selected 149 projects for referral to an environment committee, under the process, including 22 renewable energy projects, including  the 420 MW Point Solar Farm, which Far North Solar is developing in the Canterbury region, Energy Farms’ 76 MW Wellsford Solar Farm project near Auckland, and an 88 MW Balmoral Station Solar Farm planned for South Canterbury.

Auckland-headquartered Lodestone Energy’s 220 MW Haldon Station solar project has also been listed for inclusion alongside the Black Point Solar Farm in Canterbury, the Rotokawa Solar Farm in Waikato and the Foxton Solar Farm being developed in the Manawatū-Whanganui region by the SolarGen joint venture.

UK renewables developer Harmony Energy has had three of its projects – the Hinuera, 26 MW Bunnythorpe, and Huirangi solar farms – listed for inclusion.

The Bill has an overarching clause requiring everyone working under the bill to act in a manner that is consistent with existing Treaty of Waitangi settlements and other arrangements.