Meridian, Nova break ground on 400MW New Zealand solar plant

August 29, 2025
Facebook
Twitter
LinkedIn
Reddit
Email
The first phase of the Te Rahui solar project will have 200MW of capacity, and receive an investment of NZ$300 million (US$176.6 million). Image: Meridian Energy.

Meridian Energy, a New Zealand state-owned energy company, and Nova Energy, a Wellington-headquartered subsidiary of conglomerate Todd Corporation, have established a joint venture to build and operate a 400MW solar plant in Rangitaiki near Taupo on New Zealand’s North Island.

The first phase of the Te Rahui solar project will have 200MW of capacity, and receive an investment of NZ$300 million (US$176.6 million). Meridian has signed a power purchase agreement (PPA) to acquire 100% of the electricity generated at the project, and has secured a contract for difference (CfD) with Nova for half of this output.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Nova secured resource consent for Te Rahui in April 2024. Phase one is slated to begin commercial operations in mid-2026 and reach full capacity by mid-2027. A final investment decision on the 200MW second stage is pending, though both parties aim to advance it quickly. The parties awarded construction, operations and maintenance (O&M) contracts to Beon Energy.

Calling the joint venture a “real win-win,” Meridian CEO Mike Roan said: “Te Rahui is a big undertaking and sharing the investment and offtake makes strong commercial sense for both parties, while the project will also benefit home and business customers by further strengthening security of supply.”

In December 2024, Meridian Energy and Nova Energy announced a 50-50 joint venture to build and operate the 400MW solar PV plant. At the time of announcement, the project, requiring NZ$660 million (US$370 million) in investment, ranked among the country’s largest solar developments, though still smaller than the proposed 1GW Helios Energy NZ Solar PV Park.

Meridian’s growing renewables portfolio

Wellington-headquartered Meridian plans to build seven large-scale renewable projects by 2030. It has delivered the Ruakaka battery energy storage systems (BESS) plant and started construction at the Ruakaka solar project.

In February 2025, the company secured final planning consent from the Environment Court for its 120MW Ruakaka plant in Tai Tokerau, Northland, after initial approval by the Northland Regional Council in September 2024.

The project will use 250,000 modules to generate 150-250GWh of electricity annually. The construction is set to begin mid-2025 and finish in early 2027, later than the original late 2026 target.

“We are doing our share of the heavy lifting to secure New Zealand’s energy future. Having invested more than NZ$1 billion (US$590 million) in the past five years, we have a further NZ$2 billion (US$1.2 billion) planned for investment over the next three years. These projects will add over 1,000MW of new capacity, a five percent increase to the electricity system,” Roan added.

Read Next

October 17, 2025
Norwegian renewable energy firm Scatec has signed lease agreements for 64MW of solar PV and 10MWh of energy storage capacity in Liberia and Sierra Leone.
October 17, 2025
A group of over 20 US states are suing the Trump administration for the cancellation of the US$7 billion Solar For All Scheme.
October 16, 2025
Masdar and Turkey have entered the final stage of US$1 billion agreement to develop the 1.1GW plant in Bor, Niğde Province, central Turkey.
October 16, 2025
US utility-scale solar additions grew by 56% in 2024, reaching 30GW from 2023’s 19GW and representing over 54% of all new electricity generation capacity added in the country last year.
October 16, 2025
Jakson Green and Blueleaf Energy have reached financial close for the 840MWp Bikaner solar projects in Rajasthan, western India. 
October 16, 2025
Off-grid solar company Sun King has revealed plans to set up manufacturing operations in Kenya and Nigeria.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK