Overseas investment decision for case 202300277 - SC Oscar Holdings Pte Ltd

Freehold interests in approximately 48.5622 hectares of land at Kaponga, Taranaki and approximately 47.1451 hectares of land at Stratford, Taranaki.

Easement interests in approximately 32 hectares of land at Pamapuria, Northland and approximately 57.5 hectares of land at Tikokino, Hawkes Bay.

The Applicant was formed to establish a private equity fund to invest in renewable energy assets including grid-connected solar photovoltaic power generation infrastructure (solar farms) on sites in the Asia Pacific region. 

The main benefits to New Zealand are likely to be economic and relate to the Applicant being able to construct and operate four solar farms on the land. The construction of the solar farms will require considerable (over $150m) investment and create a large number of temporary and a smaller number of permanent jobs. 

Once operational in 2025-2026, the solar farms will add approximately 221.425 GWh of renewable electricity per year to the national grid (this is the equivalent of enough electricity to power approximately 31,500 households). This will advance the Government’s policy goal to achieve 100% renewable electricity by 2030.

Consent was granted as the Applicant met the investor test criterion and the benefit likely to occur as a result of the investment will result in benefit to New Zealand.