Giant solar projects
By Dan Hutchinson
Taupō’s landscape is dotted with hydro and geothermal mega-projects and now a giant solar farm is proposed for a site 35km west of the Great Lake and another closer to town.
The area at Rangitaiki where Te Rahu solar farm is being built.
Merridian Energy and Nova Energy have announced their intention to form a 50-50 joint venture to build and operate the 400 MW Te Rahui solar farm at Rangitāiki near Taupō.
The project would cost about $660 million. Nova received resource consent for it early last year.
The project would produce enough electricity to power about 100,000 homes.
Built on a 1022ha former dairy farm, the project would include about 900,000 solar nodules and 98 inverters.
It would be constructed in two stages, each involving a 200 MW solar plant. Electricity would be shared equally between the two parties.
Meridian chief executive Neal Barclay said the joint venture was a great example of how collaboration could move big projects forward for the benefit of electricity users.
A final financial investment decision was expected to be reached early in 2025.
“At 400 MW, Te Rahui is a big project and sharing the investment and offtake makes strong commercial sense for both parties, while the project will also benefit home and business customers by further strengthening security of supply.
“It’s a real win-win and we’re delighted to have this opportunity to partner with Nova on Te Rahui.”
Nova Energy CEO Babu Bahirathan said the project was a significant step towards progressing Nova’s diversification into renewable energy, and the partnership demonstrated the power of collaboration in driving ambitious renewable energy projects forward.
“With a strong New Zealand-owned company like Meridian alongside us, we can accelerate the development of much-needed electricity supply and continue our planned build-out of large grid-scale solar projects.”
The project closes off a year in which Meridian has completed its Harapaki wind farm in Hawke’s Bay, moved to an advanced stage of construction on its first grid-scale battery at Ruakākā and progressed consent applications for a number of other wind, solar and battery projects as part of a $3 billion investment pipeline through to 2030.
Meridian and Nova have signed non-binding terms sheets in relation to Te Rahui and intend to enter into binding agreements early in the year, including power purchase agreements for the electricity produced from the solar farm.
The huge farm comes after news late last year that Rotokawa Solar Farm, built on a 362ha Rapids Rd property near Taupō, had been added to the list of projects the Government would fast-track through the consent process.
That project at 162 Rapids Road, would have a peak output of about 105MW.