'World-class fundamentals' | CIP links with NZ Super Fund for 1GW offshore wind flagship
Danish global renewables powerhouse signs up to work on landmark sea-based project in the South Taranaki Bight off Aotearoa New Zealand
Global offshore wind greenfield developer Copenhagen Infrastructure Partners (CIP) has agreed to work with NZ Super Fund to build a first giga-scale project in the South Taranaki Bight off Aotearoa New Zealand.
CIP, which has some 30GW of sea-based wind in its development pipeline, and NZ Super Fund said they expected the project, part of a broader development plan for CIP’s upcoming flagship fund ‘CI V’, could be brought online as 1GW array as early as the “end of the decade”, meeting over 11% of the island nation’s demand, and the potential to be expanded later to 2GW.
“Aotearoa New Zealand’s world-class offshore wind fundamentals – high average wind speeds and relatively shallow waters close to transmission infrastructure – makes the project an exciting development for CIP,” said CIP partner Michael Hannibal.
“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.”
“The New Zealand government’s renewable energy ambitions will require strong partnerships to deliver large-scale clean energy projects over the coming decade. We can think of no better partner than the NZ Super Fund to help bring our expertise to New Zealand.”
NZ Super Fund CEO Matt Whineray said: “Offshore wind energy has the potential to be an attractive commercial opportunity that aligns with [our] climate change investment strategy and focus on sustainable finance, as well as its desire to invest in large-scale New Zealand infrastructure.
“The climate crisis is driving a global shift in how countries produce energy. We are focused on opportunities that allow us to apply our long-term investment capital to support this shift and the fund’s own public commitment to being net zero by 2050. While this proposal is still at a very early, exploratory stage, we are confident it could help New Zealand’s transition away from fossil fuels and towards home-grown clean energy.”
Project engineering is being managed locally by Copenhagen Offshore Partners, which it said would now undertake wind resource measurement, as well as designing detailed environmental impact assessments “with the support of local communities and experts and examining industry potential and training needs for the Taranaki region”.