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90% renewable energy target is achievable

Hon David Parker
Minister of Energy

6 March 2008 Media Statement

90% renewable energy target is achievable


The Labour-led government’s target of generating 90 percent of electricity from renewable sources by 2025 is readily achievable, Energy Minister David Parker says.

Mighty River Power’s announcement today for a proposed 132 megawatt geothermal power plant to be built at Rotokawa, north of Taupo, is further evidence that the goal makes economic as well as environmental sense, the Minister said.

“In order to reach our 90 percent target by 2025, we need to build about 175 MW of renewable electricity generation each year. This year alone we’re building around 300 MW (which excludes this latest 132MW). This shows the target is well within grasp.

“The potential we have in geothermal energy generation is important. Investment in geothermal provides us with a renewable form of baseload generation that shores up intermittant generation sources like wind.”

The proposed emissions trading scheme would further improve the economics of renewables, David Parker said.

“In addition, the legislation presently before the House will also restrict new baseload coal and gas generation being built for the next 10 years.

“We’re serious about building a sustainable energy system that’s reliable, affordable and good for the environment. I’m pleased to see the energy sector responding to this goal.”


ENDS

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