Go ahead for solar farm
The Refinery at Marsden Point. Shaded section indicates the location of Maranga Ra, Refining NZ’s solar farm.
The Refinery is to proceed with the construction of a $37 million solar farm after receiving approval to invest from the Refining NZ Board.
The 31 hectare farm (Maranga Ra) will be New Zealand’s largest and will supply 26.7 MW or around 10% of the Refinery’s total electricity need.
Maranga Ra will reduce electricity costs by around $3-4 million and reduce CO2 emissions by a further 18,000 tonnes per year. Construction is expected to get underway before the end of the year and be completed by December 2020.
The solar farm will be funded via a combination of non-recourse project debt funding and equity of around $10 million from the Company.Back