Two of New Zealand’s major energy companies have joined forces to build the country’s largest solar farm. Meridian Energy and Nova Energy have created a 50/50 joint venture to develop the Te Rahui solar project in Rangitāiki, about 35 kilometers east of Taupō on the North Island.
The massive 1022-hectare site will host 900,000 solar collectors with a total capacity of 400 megawatts. Once fully operational, Te Rahui will generate about 650 gigawatt-hours of electricity annually, enough to power approximately 100,000 homes.
The project carries a price tag of NZ$660 million (US$370 million) and will be developed in two stages of 200 megawatts each. ANZ has already secured NZ$300 million for the first phase of financing. The companies are targeting the first quarter of 2025 for their final investment decision.
Te Rahui received resource consent in April 2024, with construction set to begin soon after. The first stage is expected to start generating power by mid-2026, with the entire project scheduled for completion by mid-2027. Dutch company Photon Energy Group will manage the installation of the solar modules.
Construction begins after April 2024 consent, with power generation starting mid-2026 and full completion by mid-2027.
The electricity output will be split equally between Meridian and Nova. Meridian has secured a contract-for-difference for its half, providing revenue certainty for the state-owned enterprise. The project originally belonged solely to Nova before the joint venture agreement was signed in December 2024.
The solar farm will include battery storage to reduce power curtailment and provide grid support. This feature will allow energy to be stored during sunny periods and released during evening peak demand. The phased development approach provides flexibility in adjusting construction timing and grid integration work.
Te Rahui will greatly diversify New Zealand’s renewable energy mix, which has traditionally relied on hydro and wind power. This diversification aligns with Meridian’s other solar initiatives, including the 120MW Ruakākā Solar Farm expected to be completed by late 2026.
The solar farm sets a precedent for future large-scale renewable projects in New Zealand and forms part of Meridian’s broader $3 billion investment in renewables through 2030. The project benefits from the significant cost reduction in photovoltaic technology that has made large-scale solar installations increasingly economical over the past decade.
References
- https://list.solar/news/meridian-nova/
- https://www.pv-tech.org/meridian-energy-nova-to-form-joint-venture-for-400mw-new-zealand-solar-pv-plant/
- https://www.energyglobal.com/wind/29082025/meridian-and-nova-finalise-solar-jv-and-financing/
- https://www.meridianenergy.co.nz/news-and-events/meridian-and-nova-to-partner-for-te-rahui-solar-farm
- https://en.wikipedia.org/wiki/Te_Rāhui_Solar_Farm
