Property services to support SolarGen JV’s Solar-Gen programme roll out

Challenge

Genesis and FRV Australia formed a joint venture in late 2021 to deliver a series of solar developments across Aotearoa New Zealand. In the first five years, SolarGen JV anticipate generating around 750 GWh pa – enough to power 100,000 households or 185,000 EVs per year, with up to 500 MW of solar capacity. They required support to find suitable locations for their proposed developments along with extensive due diligence, and assembling and securing occupation rights for complex multi title developments with a diverse landscape.

Solution

Our Property team in New Zealand have been heavily involved site scoping and identification, and securing the necessary occupation rights for the ongoing Solar-Gen programme. The team are actively scoping sites, completing detailed site evaluations, building relationships with landowners and onboarding. They have also managed exclusivity, option and lease agreements to secure the ongoing occupation rights to allow for the projects to be developed. Bringing our specialist advice, knowledge of New Zealand’s landscape and regulatory environment to the earliest phase of the development has been fundamental to establishing sites.

We have assisted SolarGen JV in securing three sites currently at various stages of development, with a combined capacity of up to 400 MW. Other projects are still in progress.

SolarGen JV’s first solar farm is now progressing pre-construction activities at Lauriston on the Canterbury Plains with a capacity of 63 MW and is the largest solar farm in New Zealand to reach financial close. 4Sight (now SLR) supported SolarGen JV with achieving compliance through an RMA due diligence assessment, consent variation, drone survey and subdivision consent. The 90-hectare site will hold approximately 89,000 solar panels that will generate around 96 GWh of renewable electricity annually. SLR is also underway with consenting for an additional 180 MW solar project to add to the programme.

Impact

Assisting our client achieve their long-term renewable energy targets will advance New Zealand’s solar industry and support New Zealand’s energy transition.

The Lauriston Solar Farm is expected to start generating electricity in early 2025, powering the equivalent of nearly 13,000 houses, and further projects are planned to gain consent. As part of Genesis’ long-term Gen35 strategy, these projects contribute towards their 95% renewable generation target by 2035, including investment in solar, grid scale battery storage and wind.