Aquila, 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)

Join Renewables Now's free daily newsletter now!

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Veselina Petrova

Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription
\