Top New Zealand law firm, MinterEllisonRuddWatts has advised Mercury NZ Limited on its USD30 million (approximately NZD53 million) investment for a 12.7% minority equity stake in Datagrid Holding Group NZ Ltd (Datagrid NZ), a milestone transaction that supports the growth of New Zealand's renewable energy sector and the development of one of the country's most significant digital infrastructure projects.
Datagrid NZ is developing a 360MW hyperscale data centre project at North Makarewa, Southland, which is expected to become New Zealand's most advanced large-scale data centre development. The project is designed to support advanced artificial intelligence, sovereign cloud and high-density computing workloads.
The investment strengthens Mercury's position alongside a strategically important source of future electricity demand and builds on the parties' existing relationship, following the execution of a 140MW power purchase option agreement in March 2026.
Corporate Partner Neil Millar, who led the firm’s deal team advising Mercury on the transaction, says the investment reflects the growing convergence of New Zealand's renewable energy sector and the rapidly increasing demand for digital infrastructure.
"This transaction positions Mercury alongside one of New Zealand's most ambitious digital infrastructure developments and demonstrates the critical role renewable energy will play in our country’s future,” says Neil Millar.
"As demand for large-scale computing capacity continues to accelerate globally, projects such as Datagrid NZ have the potential to unlock significant economic opportunities for New Zealand while supporting long-term investment in renewable generation. We are delighted to have advised Mercury on this significant strategic transaction."
The investment aligns with Mercury's long-term growth strategy and supports the development of infrastructure that will help meet the increasing energy requirements of data-intensive industries.
The firm’s deal team included partners Natasha Hood (Energy and Infrastructure), Ed Smithies (Real Estate), Stephanie de Groot (Environment), Senior Associate Olivia Pahulu (Environment) and Solicitor Oscar England (Corporate M&A).
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