The NZ Super Fund and Copenhagen Infrastructure Partners (CIP) have formed a partnership to explore the potential for large-scale offshore wind energy off the coast of New Zealand.
The newly-established jointly-held company will manage the development in South Taranaki Bight, a large bay on the west coast.
The partners said the initial planned 1GW development could later expand to 2GW.
CIP鈥檚 investment in the project is part of a broader project development pipeline for CIP鈥檚 upcoming flagship fund, Copenhagen Infrastructure fund V (CI V), the successor to its CI IV, which raised 鈧�7bn in April last year.
NZ Super Fund CEO, Matt Whineray, said: 鈥淲e are in the unique position of being able to attract best-in-class global partners on infrastructure developments that create positive environmental and social outcomes.鈥�
CIP Partner, Michael Hannibal, said: 鈥淭here is a global shift to clean and sustainable energy sources. New Zealand has a prime opportunity to utilise its natural resources, in this case offshore wind, to power the country into the future.鈥�
He added that the New Zealand government鈥檚 renewable energy ambitions would require strong partnerships to deliver large-scale clean energy projects over the coming decade.
The project will be CIP鈥檚 first investment in Aotearoa, New Zealand. It follows an investment of NZ$208m from NZ Super in CIP鈥檚 new energy transition fund last year.
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