The NZ Super Fund and Copenhagen Infrastructure Partners (CIP) have formed a partnership to explore the potential for large-scale offshore wind energy off the coast of New Zealand.
The newly-established jointly-held company will manage the development in South Taranaki Bight, a large bay on the west coast.
The partners said the initial planned 1GW development could later expand to 2GW.
CIP’s investment in the project is part of a broader project development pipeline for CIP’s upcoming flagship fund, Copenhagen Infrastructure fund V (CI V), the successor to its CI IV, which raised €7bn in April last year.
NZ Super Fund CEO, Matt Whineray, said: “We are in the unique position of being able to attract best-in-class global partners on infrastructure developments that create positive environmental and social outcomes.”
CIP Partner, Michael Hannibal, said: “There is a global shift to clean and sustainable energy sources. New Zealand has a prime opportunity to utilise its natural resources, in this case offshore wind, to power the country into the future.”
He added that the New Zealand government’s renewable energy ambitions would require strong partnerships to deliver large-scale clean energy projects over the coming decade.
The project will be CIP’s first investment in Aotearoa, New Zealand. It follows an investment of NZ$208m from NZ Super in CIP’s new energy transition fund last year.
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