NZ Super and Copenhagen Infrastructure Partners Explore Offshore Wind Energy Investment in South Taranaki Bight
Posted on 03/28/2022
The New Zealand Superannuation Fund (NZ Super Fund) and Copenhagen Infrastructure Partners (CIP) agreed to explore ideas for large-scale offshore wind energy in the South Taranaki Bight. A newly established jointly held company will manage the feasibility study and development. Subject to feasibility, an initial planned 1GW development would represent over 11% of New Zealand’s current electricity demand capacity and could power over 650,000 homes. The partners believe the project could later expand to 2GW, helping to meet strong projected growth in demand for electricity in New Zealand.
The South Taranaki Bight is a large bay on the west coast of New Zealand, south of Taranaki, west of the Manawatu, north and west of the western entrance of Cook Strait and north of the South Island.
CIP’s investment in the South Taranaki project is part of a broader project development pipeline for CIP’s upcoming flagship fund CI V. This project will be CIP’s first investment in Aotearoa New Zealand and follows the NZD58 billion NZ Super Fund’s NZD208 million commitment to CIP’s new Energy Transition Fund (CI ETF I) in 2021.
Hau Nui Wind Farm
The Hau Nui Wind Farm is a 15-turbine wind farm located approximately 21 kilometers south-east of Martinborough, in the South Wairarapa District of New Zealand. Hau Nui was the first wind farm built in New Zealand in 1996.
Madrid-based BlueFloat Energy is partnering with two energy consulting firms to look at developing New Zealand offshore wind farms.
