Hive Energy, Ethical Power and Solar South West (SSW) have launched a new joint venture (JV) to develop photovoltaic (PV) solar assets across New Zealand, called HES Aotearoa Ltd. The company expects to develop a pipeline of nearly 350 MW of utility-scale PV solar assets across the country.
The three UK-based companies have complementary skills, creating a JV that is fully integrated along the whole value chain of solar development: from site selection to project design, construction and operation and maintenance.
HES Aotearoa intends to support recent commitments from the New Zealand Government, which has pledged to have 100% renewable electricity generation by 2030 and has stopped issuing permits for gas exploration. Research from Transpower in 2017 concluded that New Zealand could accommodate 4 GWp of solar PV without material disruption to the system, with just 140 MWp currently installed.
The JV identified New Zealand’s potential for utility-scale solar developments due to its lack of grid congestion for connections at scale and high solar irradiation. Solar yields within the country are typically 35 - 40% higher than in the South West of the UK. The three UK-based companies believe that the combination of these factors presents a clear business case for launching their new HES Aotearoa JV in New Zealand.
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Read the article online at: https://www.energyglobal.com/solar/02092021/hive-energy-ethical-power-and-ssw-launch-new-solar-energy-jv/