New Zealand plans to fast-track several projects across various sectors to rebuild its economy
This includes 22 renewable energy projects representing 3 GW of clean energy capacity
Projects that finally get the green signal will be expedited in terms of permitting processes
The Government of New Zealand plans to expedite 3 GW worth of renewable energy generation capacity to boost its energy security and meet its climate change goals. It has included 22 projects that represent this capacity in its Fast Tracking Approvals Bill.
These 22 facilities are part of 149 projects with significant regional or national benefits selected by the government across various sectors for inclusion in its one-stop-shop bill that will help rebuild the economy and improve energy security.
According to New Zealand’s Regional Development Minister Shane Jones, “The 22 renewable electricity projects will help electrify the New Zealand economy, boost energy security and help New Zealand address its climate change goals.”
He added, “New Zealand has abundant renewable energy resources, but the planning system puts barrier after barrier in the way of taking advantage of them. Collectively the projects will contribute an additional 3 gigawatts of generation capacity, if all consented. By comparison, Auckland’s historic peak demand is about 2 gigawatts.”
Among the selected projects are 10 solar farms and 12 wind and hydropower plants.
The other selected projects are from mining, housing, aquaculture and farming, mining and quarrying, and infrastructure sectors. A list of all the shortlisted projects is available here.
The Environment Select Committee is currently assessing the bill and report back to the Parliament by October 18, 2024. The bill is expected to go before the Parliament for its 2nd reading in November. Once passed, it will become a law before the end of 2024.
Once cleared, these projects will be ‘freed from stifling consenting processes’, create jobs, and more business, according to Jones.
A year back in August 2023, New Zealand roped in BlackRock for a NZD 2 billion fund to help the country achieve its 100% renewable electricity target as it diversifies beyond hydropower (see NZD 2 Billion Fund For New Zealand’s RE Plans).
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