| Decision | Consent Granted Section 12(1)(a) and Section 13(1)(b) Overseas Investment Act 2005 |
|---|---|
| Decision maker | The Minister for Land Information and the Minister of Finance |
| Decision date | 23 January 2024 |
| Pathway(s) | Sensitive land – Benefit test Significant Business Assets |
| Investment | Establish a business and acquire a leasehold interest in approximately 295 hectares of land adjacent to Christchurch International Airport |
| Cost of Commencing Business | Withheld under s9(2)(b)(ii) |
| Applicant | Kōwhai Park P Limited Partnership United Kingdom (33%) New Zealand (36%) United States of America (15%) Australia (4%) Various (11%) |
| Vendor | Christchurch International Airport Limited New Zealand (100%) |
| Background | The Applicant intends to develop a 170MWp solar farm on the land, consisting of approximately 290,000 solar panels. This development is projected to be the second largest solar farm in New Zealand. The Applicant is ultimately owned by Contact Energy Limited and Lightsource BP Renewable Energy Investments Limited in equal parts. The land is currently used for pastoral grazing. The main benefits to New Zealand are likely to include capital expenditure, job creation, and advancement of government policy by supporting renewable energy generation objectives. Consent was granted as the Applicant met the investor test criterion and the benefits likely to occur as a result of the investment will result in a benefit to New Zealand. |
| More information | Hannah Lee Buddle Findlay (Wellington) PO Box 2694 Wellington 6140 |