| Decision | Consent approved Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 16 November 2022 |
| Pathway(s) | Residential land development (More than one purpose - One-off purchase) |
| Investment | An overseas investment in sensitive land, being the Applicant’s acquisition of a leasehold interest of up to 60 years in 2.6 hectares of land at 121 Lamb Road, Kaitaia. |
| Consideration | $896,400 |
| Applicants | Aquila Capital Holding GmbH Germany (60%), Japan (30.6%), Various (9.4%) Far North Solar Farm Limited Australia (70%), New Zealand (30%) |
| Vendor | Mt Camel Farms Limited New Zealand (100%) |
| Background | The Applicants intend to develop a solar farm on the Land with an anticipated installed capacity of 2.8 MWp. Once operational, the energy generation from the solar farm is expected to match the annual load of approximately 320 homes. Most of the power from the solar farm will be consumed in Kaitaia or north of Kaitaia. Part of the residential land will be used for incidental residential purposes supporting the use of the balance of the land for developing and operating a solar farm. LINZ is satisfied that the investor test has been met and that the incidental residential use and non-residential use outcomes are likely to occur on the Land. |
| More information | Pavanie Edirisuriya Michael Shanahan and Campbell Stewart |
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