Three UK solar companies have launched a new joint venture (JV) that will develop a pipeline of nearly 350MW of utility-scale PV plants across New Zealand.
Hive Energy, Ethical Power and Solar South West said the JV, dubbed HES Aotearoa, will combine their knowledge in areas spanning site selection, project design, construction, and operations and maintenance.
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The trio identified New Zealand’s significant potential for solar due to its lack of grid congestion and high levels of irradiation, with solar yields in the country said to be typically 35 – 40% higher than the southwest of the UK.
New Zealand’s prime minister, Jacinda Ardern, last year pledged to bring forward the country’s target of 100% renewable electricity generation from 2035 to 2030.
“New Zealand’s excellent natural conditions for solar energy, along with its opportunities for grid connections and support from the government presents a unique opportunity for HES Aotearoa,” said Giles Redpath, CEO of Hive Energy.
The announcement follows Hive acquiring a 50% stake in Ethical Power last year, combining both companies’ portfolios and facilitating the delivery of more than 2GW of solar.