Kiwi Solar Developer, Rānui Generation, Commences 31MWp Solar Project In Northland

New Zealand solar developer, Rānui Generation, has announced commencement of the on-site works for the first of four solar farms currently in its development pipeline. The Twin Rivers Solar Farm in Pamapuria, near Kaitaia, is a 31MWp project capable of delivering enough electricity to power 6,000 households or 25,000 electric vehicles for a year.

Contracts for the Twin Rivers project have been awarded to GE Vernova and INTEC Energy Solutions. The project has a long-term easement agreement with the landowner and construction will start this month.

Rānui Generation was acquired by Singapore-based renewable energy investor, SC Oscar, in June. SC Oscar, has completed the acquisition through its SC Renewable Energy Plus Fund 1 Limited Partnership (Fund) received, with consent for the investment by the Fund granted by the New Zealand Overseas Investment Office in October 2023. SC Oscar intend to fund the construction of the four development-stage solar PV power projects which will deliver a combined capacity of 157 MWp. 

SC Oscar has attracted $220M in offshore investment for Rānui to develop a portfolio of renewable energy projects. The Twin Rivers solar project is the first of several solar projects that SC Oscar plans to fund as part of its commitment to invest directly in renewable energy and energy transition real assets in Asia Pacific. With support from the Fund, Rānui Generation will accelerate the development of its three other solar projects with construction scheduled to start in 2025.

Rānui Generation CEO, Jason Foden, says this acquisition by SC Oscar is an exciting development for the business and a signal of the vast potential in New Zealand’s accelerating energy transition.

“The start of construction of the Twin Rivers solar project represents a significant milestone in expanding renewable energy infrastructure in Northland. In partnership with the local community, we are excited to deliver much-needed power generation to a region of New Zealand that has traditionally faced the highest electricity tariffs.”

SC Oscar CEO, Connor McCoole, echoes this excitement, “We are particularly attracted to Rānui Generation due to the positive attributes of the New Zealand electricity market and the excellent quality of the Rānui portfolio. SC Oscar aims to create long-term value for investors by investing in the energy transition and we are delighted to support New Zealand in its commitment to a full transition to renewable energy.”

Thanks to the financial support of SC Oscar, Rānui Generation has provided its key contractors, GE Vernova and INTEC Energy Solutions, with Notice to Proceed.

INTEC, Country Manager of Australia and New Zealand, Phil Wood, stated “At INTEC, we are pleased to be providing EPC services for this remarkable project and strengthening our presence in New Zealand. This is supported by our proven track record and experience throughout Europe. I am confident that this strong partnership with Rānui Generation will result in exceptional projects, meeting the region's renewable energy needs for years to come.”

GE Vernova’s Solar and Storage business in New Zealand, Regional Commercial Leader, Jeff Hanson, said, “We are excited to work with Rānui Generation on the Twin Rivers project. GE Vernova will deliver an engineered equipment package based on our advanced Flexinverter PCS and SunIQ technology. This advanced technology is designed to enhance the project's efficiency and reliability, ensuring optimal performance and seamless integration with the local grid.”

A recent report by Boston Consulting Group highlighted the need for an investment of $10.2 billion in utility-scale renewable generation in New Zealand across this decade. Foden says this landmark deal demonstrates that figure is far from insurmountable, and it’s on future-focused New Zealanders to create the models and opportunities that will attract the necessary investment in years to come.

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