FRV Australia, a leading developer of sustainable energy solutions, and part of Abdul Latif Jameel Global Energy and Environment Holding Company Limited (“Abdul Latif Jameel Energy”) and OMERS, has further expanded its activities in New Zealand securing three new solar sites in the country, which it completed with its joint venture (JV) partner Genesis Energy, a New Zealand publicly listed electricity generation company.
The sites are in the Manawatu, Waikato and Hawke’s Bay with an expected capacity of 200 MW, 100 MW and 100 MW respectively. The three sites cover 740ha and the estimated cost to develop them is $600 million. The timing of builds is subject to regulatory processes, and final investment decision, with the first of these sites expected to be generating electricity by 2026.
The sites will generate enough electricity to power approximately 85,000 homes per year, approximately the size of Wellington, which would make Genesis the largest solar generator in the country by some margin. These three solar farms will remove approximately 500,000 tonnes of CO2 emissions from fossil fuel generation annually.
Earlier in the year FRV Australia and Genesis Joint Venture agreed to acquire the Lauriston solar farm sites, an advanced stage project site in Canterbury of 52 MW capacity. The combined generation of the four sites – 452 MW – puts the company on track to achieve the JV targets set in 2021 of securing up to 500 MW of solar projects within five years.
These future projects, together with the good progress on the Lauriston solar farm, are the tangible results of our support to sustainable clean energy developments in New Zealand following our successful experience in Australia.
