Copenhagen Infrastructure Partners (CIP), a Danish renewable investment group, has teamed up with the New Zealand Superannuation Fund (NZ Super Fund) to develop 1 GW of offshore wind capacity off New Zealand’s west coast. The projected capacity, which will be located on the South Taranaki Bight, will be equivalent to more than 11 per cent of New Zealand’s current electricity demand. The project’s scope could be expanded to 2 GW in the future to satisfy the country’s predicted rise in electricity demand.
The two companies have formed a joint venture to manage the feasibility research and project development. The South Taranaki project is part of CIP’s larger project development pipeline for CI V, the firm’s impending flagship fund. Currently, the two companies are in the early phases of evaluating the project’s feasibility.
These include detailed environmental impact evaluations, wind resource measurement, and industry potential analysis, as well as Taranaki-specific training requirements. CIP and the NZ Super Fund will focus on methods to ensure that the planned project can coexist with other uses of the marine area during the study.
REGlobal’s Views: New Zealand has a goal to achieve 100 per cent renewable energy by 2030 and the success of this offshore wind project will significantly help this island nation to achieve energy security.
