202 MW New Zealand agrisolar project reaches financial close

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The Harmony Energy New Zealand (NZ) and First Renewables joint venture (JV) have approved the final investment and successfully completed financial close on the 202 MW Tauhei Solar Farm on Aotearoa NZ’s North Island.

Located on 182 hectares near Te Aroha, Waikato, 140 kilometres southeast from Auckland, Tauhei is expected to be NZ’s largest solar farm generating 280 GWh of electricity per year, which is enough renewable electricity to supply 35,000 homes.

British-based Harmony, which is part of leading UK developer and owner of battery energy storage systems (BESS) the Harmony Energy group, and NZ-based First Renewables, a company within NZ-headquartered energy company Clarus, say commissioning of the grid-scale project will be in late 2026 when it will be connected to grid operator Transpower’s 110 kV network at the Waihou substation.

Environmental measures at the site will include the planting of 120,000 native plants, with approximately 25,000 already in the ground on the project’s boundary, while productive farming will also continute at the site, switching from dairy farming to sheep farming with the solar panels giving shelter and shade for livestock, and retaining moisture in the ground during the hottest months of the year.

Harmony Energy NZ Managing Director Garth Elmes said all major contracts, financing, consents and regulatory approvals are now in place.

“We will now start construction on New Zealand’s largest solar farm, marking a significant milestone for the nation in its pursuit of providing cleaner, home-grown energy,” Elmes said.

Global renewable energy engineering procurement and construction contractor Elecnor will lead the construction, while a power purchase agreement (PPA) with Wellington-based gentailer Meridian Energy will draw 100% of the project’s first decade of output.

Meridian Chief Executive Neal Barclay said the agreement shows that NZ’s electricity industry is working well to provide for consumers.

“As we continue to invest and build renewable electricity assets throughout New Zealand, this agreement will provide even more certainty for Kiwi households and businesses,” Barclay said.

“Tauhei Solar Farm ticks all the boxes for us – it’s an exciting development generating clean energy from the abundant Waikato sun, that’ll add more resilience to New Zealand’s electricity supply.”

Barclay added the project is a great example of a large retailer supporting new generation in the wholesale market.

“It clearly shows how the electricity system is delivering new competitive and commercially viable independent generation,” he said.

Clarus General Manager Future Fuels James Irvine said the solar farm project is a significant step forward in supporting the decarbonisation of New Zealand’s energy system.

“It will also generate jobs and business opportunities, support biodiversity in the area including by creating a wetland and allow the continued productive use of the land for farming,” Irvine said.

The financial close funding requirements are supported by a syndicated debt facility provided by ANZ, ASB, BNZ and MUFG banks.

Harmony Energy New Zealand has secured a further nine solar and battery energy storage system (BESS) projects, which the company’s Commercial Director Pete Grogan said has all land required under option and grid connections towards the top of Transpower’s Generation Connection Pipeline.

“Furthermore, with our connections at 110 kV or 220 kV, we will have dispatch priority over competing generation connected at lower voltages,” Grogan said.

“With the construction of Tauhei Solar Farm set to begin and consents already granted for projects in Masterton, Marton and Opunake, 2025 promises to be a formative year for the New Zealand business.”

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