October 19 (Renewables Now) - New Zealand utility Genesis Energy (NZE:GNE) is to buy electricity from a 100-MW wind project in New Zealand, developed by Australasian power producer Tilt Renewables Ltd (NZE:TLT), the parties said Wednesday.
The Waverley Wind Farm will be located in the South Taranaki territorial authority and will be owned and operated by Tilt Renewables. The project has resource consent for up to 48 turbines.
The partners have agreed terms of a long-term power purchase agreement (PPA). The partnership will allow the developer to move the project into construction, possibly as early as the first half of 2019. Tilt Renewables noted that the start of construction depends on reaching a final agreement on the PPA's commercial terms.
The wind power plant is expected to be brought online in 2020.
Marc England, Genesis CEO, noted that the development of the project comes to meet the rising demand for renewable energy in New Zealand. At present, the country has 17 wind farms in operation with a combined capacity of 690 MW. The first wind farm in the island country is Genesis Energy’s 8.65-MW Hau Nui plant in the South Wairarapa district.