Source: New Zealand Government
The Government is making changes to legislation to unlock New Zealand’s offshore wind potential, Energy Minister Simon Watts says.
“New Zealand has some of the world’s greatest offshore wind potential, offering a significant opportunity to generate economic growth while powering our homes and businesses,” Mr Watts says.
“Offshore wind requires a significant upfront investment. That’s why we are establishing a clear regulatory regime through the Offshore Renewable Energy Bill that was introduced last year, to give developers the certainty they need to invest and kickstart the sector.
“However, during the Select Committee Process, offshore wind developers raised concerns about their projects coexisting with other activities, particularly seabed mining.
“To address these concerns and ensure nothing stands in the way of unlocking our offshore wind potential, Cabinet has agreed to amend the draft legislation. These changes will create greater investment certainty for both offshore wind and seabed mining.
“The amendments will enable the Government to use secondary legislation to designate specific marine space where permits could be invited for offshore renewable projects while there is a pause on granting new permits for seabed mining under the Crown Minerals Act.
“This is a pragmatic step to address a key concern raised by the industry. By providing clear, designated areas for offshore wind, we’re creating the investment confidence needed to kickstart the sector.
“The restrictions will apply to seabed mining, not petroleum, activities and will not affect existing minerals projects’ rights to prospect, explore and mine.
“We have made no decisions on exactly where the first designated area will be, though it is likely to be somewhere in South Taranaki.
“The Government will take into account the impact on existing mining permit holders when determining these areas, and our expectation is the offshore wind and minerals sectors enter into constructive discussions on how their activities may exist near to each other.”
An Amendment Paper will be drafted and introduced to the legislation to formalise these changes.
