| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | The Minister for Land Information and the Associate Minister of Finance |
| Decision date | 3 April 2024 |
| Pathway(s) | Sensitive land - Farm land benefit test |
| Investment | Acquisition of a leasehold interest in approximately:
|
| Consideration | Withheld under s9(2)(b)(ii) of the Official Information Act 1982 |
| Applicant | Aquila Capital Holding GmbH Germany 60% Japan 31% Various 9% Far North Solar Farm Limited Australia 70% New Zealand 30% |
| Lessors | Ian Kelvin Field and Vivien Elizabeth Field (owner of Greytown 1 Land, Greytown 2 Land, Greytown 3 Land, and Greytown 4 Land). Andrew James Field and Michelle Jody Field (owner of Greytown 5 Land). Stephen John Cates, Vivienne Rona Malneek and James Frederick Cates as trustees of the Vista Trust (owner of Greytown 6 Land). New Zealand 100% |
| Background | The Applicants are a joint venture whose business is the construction, development, and operation of several solar photovoltaic farms in New Zealand. They are acquiring the land to develop a solar farm with an anticipated installed capacity of 174.4 MWp, which is enough to power approximately 38,974 homes a year, by end 2026. The main benefits to New Zealand are capital expenditure on the solar farm, creation of jobs, better energy security, and alignment with government policy. Consent was granted as the Applicants have met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Pavanie Edirisuriya DLA Piper New Zealand Level 15, PwC Tower 15 Customs Street West Auckland Central |