Source: MIL-OSI Submissions
Source: New Zealand Superannuation Fund
NZ Super Fund together with Copenhagen Infrastructure Partners (CIP) are taking important next steps to explore the potential for offshore wind off Aotearoa New Zealand’s South Taranaki coast.
NZ Super and CIP have submitted a pre-activity notice to New Zealand’s Environment Protection Authority (EPA) for a floating wind measurement device – a Floating Light Detection And Ranging device, or FLiDAR – to be deployed 37km off the South Taranaki Coast.
“This is an important step in understanding the wind resource that is available in our location of interest. Our initial research suggests the South Taranaki area has world-class fundamentals, however deploying the FLiDAR will help us build a fuller environmental picture and develop an investable proposition,” says NZ Super Fund Head of Direct Investments Will Goodwin.
“The ability to bring in this kind of globally in-demand equipment highlights the benefit of working with an international partner such as CIP.”
“In addition to lodging the EPA application, the team has been actively engaging with local communities on the project and are building our partnership with local iwi as kaitiaki for the area. Ensuring we have strong buy-in is a key priority as we work through the development.”
The FLiDAR, which is similar in size to a large ocean buoy, will be deployed for a minimum of 12 months and will measure area-specific wind speeds to help determine the feasibility of an initial up to 1GW clean energy project as well as the potential for an additional 1GW project. The FLiDAR is expected to be deployed late in the third quarter of 2022.
The pre-activity notice also includes the project area of interest within which the feasibility of the projects will be explored. This comprises an area of approximately 900km2 entirely within New Zealand’s Exclusive Economic Zone.
The project partners will soon commence industry capability mapping and marine ecology work in partnership with Iwi and collaboration with local community stakeholders.
www.taranakioffshorewind.co.nz
About NZ Super Fund
The $57 billion NZ Super Fund is a global investment fund that was established by the New Zealand Government to help pre-fund universal superannuation. A long-term, growth-oriented investor, the Fund has returned 10% p.a. since inception in 2003, and currently has more than $6 billion invested in New Zealand, including significant stakes in Kaingaroa Timberlands, Datacom, Kiwibank, Fidelity Life and NZ Gourmet, as well as significant investment in a range of locally listed companies. For more information please visit www.nzsuperfund.co.nz
About Copenhagen Infrastructure Partners
Copenhagen Infrastructure Partners P/S is the world’s largest dedicated fund manager within greenfield renewable energy investments, and a leader in offshore wind globally. At COP26 CIP announced the ambition and a roadmap for increasing and accelerating its role in delivering on the energy transition by deploying EUR 100bn into green energy investments by 2030.
CIP manages nine funds and has approx. EUR 16 billion of assets under management focused on investments in energy infrastructure, including offshore wind, onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity and storage, and other energy assets like renewable hydrogen. Today CIP’s funds have approximately 100 international institutional investors from the Nordics, Continental Europe, the UK, Israel, Asia, Australia, and North America and multi-lateral organizations e.g. EIB. CIP has approximately 300 employees and offices in Copenhagen, London, Hamburg, Utrecht, New York, Tokyo, Singapore and Melbourne. For more information on CIP, visit www.cip.dk
