NZ$2b renewable energy fund announced for NZFriday 11 Aug 2023
The Government has worked with multinational giant BlackRock – a large investor in climate infrastructure and clean technology – on the net zero fund which aims to accelerate green energy options which also include solar and wind. That will help fuel a low emissions economy and provide access to greater pools of capital for New Zealand businesses, supporting the creation of highly skilled local jobs, says the Government. Prime minister Chris Hipkins announced the first of its kind New Zealand net zero fund alongside energy and resources minister Megan Woods and BlackRock representatives in Auckland on Tuesday this week, 8 August. “This fund is a massive opportunity for New Zealand innovators to develop and grow companies,” says Hipkins. “I’m absolutely stoked about what this means for Kiwi ingenuity in renewable energy; it shows that our ambitious climate targets have the world’s attention, and that they are good for the climate, good for the economy, and will help create highly skilled jobs. Woods says the fund will accelerate New Zealand’s emissions reduction. “With record levels of renewable electricity generation in recent years, New Zealand is well-positioned to be one of the first countries in the world to deliver a fully renewable electricity system,” she adds. “New Zealand is now an investment magnet for capital that will unlock technology such as battery storage, wind and solar generation, green hydrogen production and more electric vehicle chargers across New Zealand.” Woods says the fund will look to crowd in investment from Crown companies and entities, including superannuation funds, and private sector funds, to accelerate New Zealand’s transition to 100% renewable electricity. BlackRock chief executive and chairman Larry Fink says the NZ$2b fund is an important step for investment in climate infrastructure. “This is the largest single-country low-carbon transition investment initiative BlackRock has created to date. It will enable New Zealand companies to access greater pools of capital to build out climate infrastructure across the country’s energy system including in wind power, solar power, battery storage, electric vehicle charging, and natural capital projects. More >> The NZ Government is also now seeking feedback on work to transition New Zealand towards a low emissions economy, with consultation on five streams of energy policy including an Interim Hydrogen Roadmap that will set out the government’s initial views on the future role of hydrogen in New Zealand. Details can be read here Source: transporttalk, Scoop | ||
Copyright 2004-2024 © Innovatek Ltd. All rights reserved. |
