Three UK based energy players have formed a joint venture for the New Zealand solar market to launch up to 350 MW of PV capacity. The trio are Hive Energy, Ethical Power and Solar South West. Hive Energy is a 50% stakeholder of Ethical Power.
HES Aotearoa, the new venture, will be centered around the utility scale solar power potential of New Zealand, conducting feasibility studies, and offering development, construction, operation and maintenance of commercial and utility scale PV projects.
As New Zealand does not have any grid related challenges, this is a good enough reason for the trio to venture into the market as it offers 'clear scope' for utility scale developments in the country. "Solar Irradiation is also high; giving typically 35-40% more output annually when compared to the South West of the UK. This presents a clear business case for HES Aotearoa in New Zealand," they stated.
The joint venture partners refer to a report from Transpower that 4 GW solar PV potential for the country 'without material disruption to the system'. According to the International Renewable Energy Agency (IRENA), New Zealand's total operational renewable energy capacity at the end of 2020 was 7.418 GW, out of which solar's share was 142 MW.
Back in September 2020, New Zealand's Prime Minister Jacinda Ardern had said her party wants 100% renewable energy for the country's power mix by 2030 (see New Zealand PM Wants 100% Renewable Power By 2030).