New Zealand’s Genesis Energy has announced plans to acquire and develop a 271MWp solar project in Waikato, on the country’s upper North Island.
With an estimated cost of NZ$487 million (US$281 million), the solar project is expected to generate around 437GWh of electricity annually. With plans to integrate solar generation with battery storage, the Waikato project will be strategically located between Auckland and Transpower’s upcoming 220kV Glen Murray substation.
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It lies near Genesis’ 200MWh battery facility under construction at the Huntly Power Station. The Waikato plant is expected to become operational in 2029.
Tracey Hickman, chief operating officer, Genesis Energy said the Rangiriri project is a key step in advancing the firm’s Gen35 strategy, leveraging Huntly’s grid-scale battery and hydro assets to balance solar variability. She added that the project is funded through the company’s balance sheet, reflecting confidence in its long-term value and disciplined capital management.
Genesis Energy said the acquisition remains subject to certain vendor conditions, which are anticipated to be finalised by the end of the year.
Auckland-based Genesis now holds a pipeline of about 700MWp of solar projects, including one operational PV plant, Lauriston, three consented pending final investment decision (FID) and one currently fast-tracked for consenting.
Recently, Genesis, in partnership with FRV Australia, commissioned the 63MWp Lauriston solar plant – New Zealand’s largest to date. Located west of Christchurch on a 93-hectare site near the Rakaia River, the project features over 90,000 panels and incorporates agrivoltaics, allowing sheep grazing to continue on-site. The Lauriston project forms part of the Genesis–FRV joint venture established in 2021 to develop a 500MW solar pipeline across New Zealand.
Earlier this month, Genesis and FRV agreed to end their solar development joint venture but will retain joint ownership of the 63MWp Lauriston solar plant in Canterbury. The companies said the move follows separate strategic reviews and aligns with the evolution of their respective business priorities.
