New Zealand is striving to reduce all greenhouse gases (except biogenic methane) to net zero by 2050. It is a signatory to the COP28 pledge to triple the world’s renewable energy generation capacity and double global energy efficiency by 2030, and the Government has a domestic target of doubling renewable generation by 2050. In addition to these targets, it is estimated that New Zealand will need to increase its electricity supply by close to 70% by 2050 to meet domestic needs, as the New Zealand economy electrifies. In real terms, industry indicates this equates to approximately 400–500MW of new generation capacity needed every year through 2050 (a rate of development never seen in this country before). To support all this new generation, it is estimated at least NZD22 billion of investment in the distribution network is needed this decade.
Accordingly, the opportunity for investing in renewable energy projects and the associated infrastructure needed is immense, with long-term returns.
New Zealand has great impetus to supplement its existing renewable energy resources (these are primarily geothermal and hydropower). This has resulted in a strong pipeline of wind and solar power projects, currently in various stages of development throughout the country.
The accelerated transition to a low emissions economy has also prompted the exploration and advancement of progressive initiatives including green hydrogen projects, offshore wind farm exploration, biofuels development, and the proposed investment in ancillary infrastructure. This is coupled with significant regulatory reform intended to promote domestic and foreign investment in renewable energy and decarbonisation initiatives as part of New Zealand’s accelerated energy transition.
The guide includes:
- a detailed description on the country’s electricity system
- information about New Zealand’s foreign investment rules
- guidance on the various corporate structures to support investment in renewable energy
- options for financing renewable energy generation projects
- a summary of New Zealand’s regulatory environment affecting investment in the energy sector, including environment and resource law.
If you are considering investing in New Zealand's renewable energy sector or need some help navigating the renewables regulatory landscape, talk to one of our experts.
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