| Decision | Consent Granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 22 July 2010 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a leasehold interest in 2.5000 hectares of land at Waitangi Wharf, Owenga Road, Chatham Islands. |
| Consideration | $103,260 |
| Applicant | Chatham Island Wind Limited CBD Energy Limited, Australia (100.0%) |
| Lessor | Alfred Wesley McAlister Preece and Robyn Evelyn Preece New Zealand (100%) |
| Background | The Applicant has been selected to build a new electricity wind generation and system integration facility on the Chatham Islands. The site for the wind farm comprises 2.5 hectares of farm land near Owenga, which is to be leased by the Applicant for twenty years. The wind generation project will have significant benefits for the residents of the Chatham Islands, as it will remove reliance on the five diesel powered generators currently used to generate power on the Chatham Islands. The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'benefit to New Zealand' criterion was satisfied by particular reference to the following factors: Overseas Investment Act 2005 Overseas Investment Regulations 2005 |
| More information | Sam Nelson Lane Neave PO Box 13-149 CHRISTCHURCH |