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Nextgen Energy Announces ‘One Million Solar Panels’ Program


Nelson, New Zealand (01 Nov 2018) – Nelson-based power company NextGen Energy has today announced its commitment to long-term, large-scale solar power generation in NZ with details of a $300m private investment program over the next 10 years to build solar and energy storage assets around the country. NextGen has brought together skills and funding from an international consortium and this program represents the largest investment in renewables in NZ for many years.

This announcement clearly identifies NextGen Energy as the only power company in NZ deeply committed to large grid-scale solar energy generation.

“NextGen Energy is creating disruptive opportunities within the NZ electricity sector, and actively pursues the adoption of new technologies.” says Mark Binskin, COO. “NextGen is already supplying retail power across a number of lines company regions, but our underlying strategy requires us to generate that electricity ourselves in order to guarantee low-price power.”

NextGen has entered into multi-year strategic supply and logistics programs with major global partners to support the rollout of one million solar panels, constructed in distributed, decentralized farms across the country. Typical solar farm sized are in the order of 1-2MW (3 – 6,000 panels). Resource consents applications for the first 10,000 panels in two locations across the Top of the South are now under way.

Binskin says “The ability to guarantee price affordability into the future and to fix those prices against spot market volatility is core to NextGen’s social and equitable programs. The company is seeking to engage with central and local government and lines companies to develop community-owned generation assets, as well as supporting businesses to transition to low-carbon electricity by purchasing their own ‘solar farm’.”

Retail customers are also able to purchase solar panels in these ‘off-site’ farms and have the power delivered directly to them at substantial discounts compared to the traditional rooftop solar model.

All surplus power will be used to support the work of social agencies working with those families most affected by rising power prices. The social enterprise company operates as a not-for-profit, uniquely donating all net profits to local schools and charities.


ends

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