Genesis, FRV Australia reaches financial close for 63 MW solar farm

The project is expected to start generating electricity by the second quarter of FY25.

Genesis Energy and its joint venture partner FRV Australia have achieved the financial close for their 63-megawatt solar farm in New Zealand, with an expected construction cost of around $63.6m (NZ$104m).

In a statement, Genesis said the project, located at Lauriston on Canterbury Plain, covers an area of 93 hectares and could generate electricity that can meet the demands of nearly 13,000 houses.

ALSO READ: Genesis to use Kupe gas field profits for $1.1b renewable generation

Genesis Energy will take all the renewable energy from the site under a 10-year power purchase deal.

Genesis and FRV formed a joint venture in late 2021 to develop up to 500 megawatts of solar capacity in five years.

The Bank of New Zealand and MUFG Bank will provide the debt funding for the projects, whilst BOEN will construct the project.

$1 = NZ$1.63

Follow the link for more news on

Genesis Energy

Also Read

Azure Power secures INR37b REC, HSBC refinancing

AMPIN Energy Transition achieves financial closure for 200MWp Rajasthan project

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit