Genesis is assessing 6,000 GWh of renewable generation options for development after starting a closed RFP process with
Those invited to participate offer a range of technologies as Genesis continues to execute its Future-gen strategy to
develop 2,650 GWh per annum of new renewable electricity generation by 2030, enough to power more than 400,000 homes.
Genesis aspires to have at least 1,350 GWh of new generation in market by 2024 as an outcome of this RFP.
Genesis Chief Trading Officer, Shaun Goldsbury, says the RFPs deliberately cover a number of generation options.
“The Future-gen strategy is to economically displace baseload thermal electricity generation with reliable and
affordable renewable electricity to support the country’s transition to a low carbon future. We have intentionally kept
our options open across a variety of technologies and a number of partners, with a focus on solar, wind and geothermal
generation,” he said.
In November, Genesis called for expressions of interest which drew a strong response with options for more than 12,000
GWh received from developers all over the world. These have now been shortlisted and invited to participate in the RFP
process which closes on March 12. Successful bidders will be notified in early May and will then enter negotiations for
long form contracts.
Next month, the first Future-gen project will be completed with the formal opening of Waipipi Wind Farm in South
Taranaki. This will deliver 450 GWh per annum of zero emissions, 100% renewable electricity, and will reduce carbon
emissions between 250,000-350,000 tonnes annually.
In December Genesis committed to remove at least 1.2m tonnes of annual carbon emissions over the next five years (Scope
1, 2 and 3), tied to limiting global warming to below 1.5°C by 2025. The targets are verified by the internationally
recognised Science Based Targets initiative (SBTi) with Genesis the only electricity generator and retailer outside of
Europe to tie its targets to the ambitious 1.5°C with the SBTi.