Hive Energy, Ethical Power and Solar South West (SSW) have launched a new joint venture to develop PV solar assets across New Zealand, called HES Aotearoa Ltd. The company expects to develop a pipeline of nearly 350MW of utility scale PV solar assets across the country.
The three UK-based companies have complementary skills, creating a joint venture that is fully integrated along the whole value chain of solar development: from site selection to project design, construction and operation & maintenance.
HES Aotearoa intends to support recent commitments from the New Zealand Government, which has pledged to have 100% renewable electricity generation by 2030 and has stopped issuing permits for gas exploration. Research from Transpower in 2017 concluded that New Zealand could accommodate 4GWp of solar PV without material disruption to the system, with just 140MWp currently installed.
The joint venture identified New Zealand’s potential for utility scale solar developments due to its lack of grid congestion for connections at scale and high solar irradiation. Solar yields within the country are typically 35-40% higher than in the South West of the UK. The three UK-based companies believe that the combination of these factors presents a clear business case for launching their new HES Aotearoa joint venture in New Zealand.
When commenting on Hive Energy’s new joint venture, Giles Redpath, CEO of Hive Energy, said:
“This new joint venture with Ethical Power and Solar South West presents an exciting opportunity to deliver Hive Energy’s mission to support a cleaner, greener future through its pipeline of nearly 350MW of solar assets. 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.”