Applicant
Contact Energy Limited
Case number(s)
200920012
Decision date
Type
Decision
DecisionConsent granted
Section 12(a) Overseas Investment Act 2005
Decision date2 September 2009
InvestmentAn overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 637.5542 hectares of land at 316 Allen and Eyre Rd, Onewhero, South Auckland.
ConsiderationCONFIDENTIAL
Applicant

Contact Energy Limited
Various (52.7218%)
Australia (23.5897%)
New Zealand (14.208%)
United States of America (6.3303%)
United Kingdom (except Isle of Man and the Channel Islands) (3.1502%)

VendorPeter Woodward Mandeno, Thomas Graham Mandeno and Dennis James Munn as trustees of The PW Mandeno Family Trust
New Zealand (100.0%)
Background

Contact proposes to purchase the land in order to progress the Hauauru ma raki wind farm project (Project).

The Project is one of a number of renewable energy initiatives being pursued by Contact, and will increase Contact's renewable generation capacity. Contact requires the land in order to register an easement for the transmission line that will link the wind farm to the national grid.

The overseas investment transaction has satisfied the criteria in section 16 of the Overseas Investment Act 2005. The 'substantial and identifiable benefit to New Zealand' criteria were satisfied by particular reference to the following factors:

Overseas Investment Act 2005
17(2)(a)(i) – Creation/Retention of jobs
17(2)(a)(iv) – Added market competition/productivity
17(2)(a)(v) – Additional investment for development purposes

Overseas Investment Regulations 2005
28(a) – Consequential Benefits
28(b) – Key person in a key industry
28(c) – Affect image, trade or international relations
28(e) – Previous investments
28(f) – Advance significant government policy or strategy
28(g) – Enhance the viability of other investments

More informationAnna Parker
Buddle Findlay (Wellington)
PO Box 2694
WELLINGTON 6140