New Zealand energy storage project invests 2 billion

Will Blackrock invest in New Zealand's climate infrastructure?

The Government of New Zealand and investment giant BlackRock announced today the launch of a new NZ$2 billion (USD$1.2 billion) fund aimed at investing in New Zealand’s climate infrastructure.

What is Blackrock doing in New Zealand?

American investment giant BlackRock has teamed with the New Zealand government to launch a NZ$2 billion (AUD 1.86 billion) climate infrastructure fund to accelerate the growth of green energy technologies like solar, wind, green hydrogen and battery storage to fuel a low-emissions economy. Image: Valori, licensed under CC BY 2.0

What is the NZ battery project?

But the national electricity system depends heavily on the fluctuating storage capacity of hydropower lakes, which makes the country prone to energy shortages during dry years. The NZ Battery Project aims to address this. One of the options being investigated is the Onslow pumped storage hydropower (PSH) scheme.

Is solarzero a good investment in New Zealand?

A division of Blackrock acquired solarZero last year, a young NZ company which provided solar, battery storage and energy services. Charlie Reid, a senior portfolio manager for Blackrock in Asia-Pacific, said this investment had demonstrated the potential for clean energy in New Zealand.

Who will contribute to the New Zealand super fund?

The New Zealand Super Fund and the Accident Compensation Corporation are both likely to contribute to the $2 billion in the fund, but the Government won’t contribute directly. The fund aims to draw in additional investments from Crown companies, superannuation funds, and private investors to accelerate the energy transition.

Should New Zealand develop new generation fuels?

there is little time to develop new generation assets or technology. New Zealand will need to work with its existing assets and optimise the use of fuels to iver security, affordability and minimise the environmental impact. Further demand ag