Genesis Energy acquires 127-MWp solar project in New Zealand

It will start generating electricity in 2026.

Genesis Energy has secured an advanced stage 127-megawatt peak (MWp) solar power project in New Zealand, boosting its efforts to build 500 megawatts (MW) of grid-scale solar by fiscal year (FY) 2028.

In a statement, the company said the agreement was made with New Zealand-based developer Helios Energy. The facility, which will be located near Edgecumbe in the Bay of Plenty, will be wholly owned by Genesis who will take all the energy produced.

The 207-hectare site will hold approximately 220,000 solar panels and generate around 230 gigawatt-hours of renewable electricity annually. It can power around 30,000 houses once it starts generating electricity in 2026.

Genesis said the site is consented, with grid connection agreements in place. The final investment decision is expected in mid-calendar year 2025 followed by the start of construction.

According to Genesis, this acquisition is in line with its Gen35 strategy which aims to build 95% baseload renewable generation by FY 2035, freeing up to 1,400 MW of generation capacity at Huntly Power Station to support energy security for the country. Huntly will provide a range of generation assets and fuels to store energy for electricity generation from a minute to a month.

Prior to this, Genesis also acquired a 63 MWp site at Lauriston on the Canterbury Plains in November 2023 which is part of its joint venture with FRV Australia. This is currently under construction and on track for first generation later in 2024.