Winds Of Change For Energy Sector

The BusinessNZ Energy Council (BEC) welcomes the Government’s release on the development of offshore renewable energy infrastructure, including wind farms.

BEC Executive Director Tina Schirr says developing renewable energy projects such as offshore wind will take time, with crucial investors looking for certainty.

"Because of the high investment required for these projects, it is important to make sure we’re ahead of the curve.

"That means making sure the right regulations are in place to support the timely development of clean energy in New Zealand."

A recent report ' The Future is Electric ' found that reducing New Zealand’s carbon emission footprint will require the sector to build an approximate additional 5 gigawatts of renewable generation capacity by 2030, tripling to around 15 gigawatts by 2050.

"This is a large undertaking and is going to require more than 42 Billion dollars in investment this decade alone," Schirr says.

BEC’s TIMES NZ model results show that wind (including onshore and offshore) could provide up to 25 percent of our renewable electricity supply in 2030 and up to 50 percent of our renewable electricity supply in 2050.

"Diversity is key across all sectors and dimensions. In energy, more renewable energy diversity means a more sustainable and reliable energy system that is affordable for all Kiwis," Schirr says.

"Like anything worthwhile, it will take time to get it right. BEC looks forward to submitting further on the development of offshore renewable energy infrastructure, to ensure New Zealand’s energy system is capable of a just transition."

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