FRV and Genesis Energy Secure Funding for New Zealand’s Largest Solar Farm

The growth of utility-scale solar in New Zealand has received a significant boost with the announcement that financial close has been reached for the country’s largest solar farm to date. Genesis Energy, a New Zealand power company, and FRV Australia, the local subsidiary of Spanish renewable energy developer Fotowatio Renewable Ventures (FRV), have partnered to build a 63MW solar farm in Lauriston on the Canterbury Plains.

The project, originally planned as a 52MW facility, has been optimized through engineering and now has a capacity of 63MW. Construction is expected to be completed later this year, and the solar farm will begin generating electricity. The $NZ104 million project will be situated on a 93-hectare site, an hour’s drive from Christchurch on the South Island. It is estimated that the solar farm will generate enough power to meet the needs of nearly 13,000 houses.

Carlo Frigerio, CEO of FRV Australia, expressed his excitement about the financial close, stating that it is a significant milestone for both FRV Australia and the solar industry in New Zealand. He emphasized that this project is just the beginning of the solar industry’s growth in the country.

In addition to the Lauriston solar farm, Genesis Energy and FRV Australia are also evaluating three sites on New Zealand’s North Island for potential solar projects. These sites have the potential to add up to a combined capacity of 400MW.

New Zealand has been gradually increasing its focus on utility-scale solar. The first solar farm of this scale was completed in November 2023, and plans for more projects are underway. Meridian Energy, another New Zealand company, is planning to bring online the 75MW Ruakākā Solar Farm by the end of this year.

Trackey Hickman, Chief Wholesale Officer with Genesis Energy, highlighted the role of solar in New Zealand’s energy transition as a renewable source of generation. The development of utility-scale solar farms is a crucial step towards achieving the country’s clean energy goals.

Joshua S. Hill, a journalist based in Melbourne, has been reporting on climate change, clean technology, and electric vehicles for over 15 years. He has been closely following the progress of electric vehicles and clean technologies in New Zealand.