Weekly renewables M&A round-up (May 23-27)
May 27, 2022 17:26 CESTAquila, Far North Solar to start 1 GWp solar roll-out in New Zealand
La Cabrita solar farm, Spain. Image source: Aquila Capital (www.aquila-capital.de)
May 13 (Renewables Now) - German investment manager Aquila Capital and New Zealand renewables developer Far North Solar Farm (FNSF) are ready to launch construction on the initial projects forming a 1-GWp solar portfolio in New Zealand.
Under an alliance forged last year, the companies are seeking to develop multiple projects across the country’s North Island and South Island.
FNSF said on Thursday that both companies have invested “significant” capital and resources to select and assess suitable project sites and obtain permits for a handful of projects. Those schemes have been advanced to become shovel-ready and their construction is slated to begin this year.
Aquila and FNSF estimate that when installed, the solar portfolio will be able to produce electricity to cover around 4% of the country’s annual energy demand. FSNF’s director John Telfer had told Radio New Zealand that the overall investment will exceed AUD 1 billion (USD 688.3m/EUR 661.6m), with the entire capacity planned to be added over the next two-five years.
(AUD 1.0 = USD 1.453/EUR 1.512)
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