Boost to Pacific Islands renewable energy
6 December 2019
Solar power generation in the Pacific Islands has been given a major boost with an investment of up to $30m by New Zealand’s Todd Corporation to progress solar based power generation projects.
Todd Generation has invested to become the majority shareholder in Sunergise International Ltd, the leading developer and operator of solar generation in the Pacific Islands. Earlier this year Todd became the majority shareholder in Sunergise New Zealand as part of its push into renewable energy.
“Solar generation in the Pacific Islands provides much needed electricity supply and reduces the dependence on expensive, high emissions diesel”, said Todd Generation General Manager Tim Cosgrove. “This investment represents an opportunity to expand Todd Generation’s renewable energy portfolio and contribute significantly to lowering emissions in the Pacific Islands.”
An initial $10m in funding will enable Sunergise International Ltd to progress 11 MW of grid-connected solar farms in Tonga and Fiji during 2020, displacing more than 8,500 tonnes of CO2 emissions each year. Mr Cosgrove said that Todd Generation is committed to developing further capacity across the Pacific Islands and New Zealand over the next decade.
Sunergise International has 20 years of experience designing and installing solar PV, battery, hybrid and mini grid systems in the Pacific. It currently operates over 20 solar power plants and has a significant pipeline of work.
Mr Cosgrove said the scale and expertise from Sunergise International will be leveraged to assist solar developments undertaken in New Zealand.