| Decision | Consent granted Section 13(1)(b) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Toitū Te Whenua Land Information New Zealand |
| Decision Date | 29 August 2023 |
| Pathway(s) | Significant business assets |
| Investment | Establishment of a business, being the development, maintenance, and operation of a new geothermal powerplant in Kawerau |
| Cost of Commencing Business | $165,000,000 |
| Applicant | Ormat NZ Limited USA (38.4%) Israel (27.2%) Japan (11.9%) United Kingdom (7.6%) Canada (5.2%) |
| Vendor | N/A |
| Background | The Applicant is an energy company ultimately owned by Ormat Technologies Inc, a publicly listed entity in Israel and the United States of America. The Applicant was granted consent to establish a business, being the development, maintenance, and operation of a new geothermal powerplant in Kawerau with a nominal capacity of 49MW. The powerplant is expected to become operational during 2025/2026. Consent was granted as the Applicant met the investor test criterion. |
| More information | Susie Kilty Buddle Findlay PO Box 2694 Wellington |
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