Lightsource BP Secures $267M Financing to Illuminate New Zealand’s Clean Energy Future with Kōwhai Park Solar Project
Lightsource BP has taken a monumental step in advancing New Zealand’s clean energy transition by securing NZ$267 million (€146 million) in financing for its ambitious 168MWdc Kōwhai Park solar project in Christchurch. Set to become one of New Zealand’s largest solar farms, Kōwhai Park will feature around 300,000 solar panels, harnessing the power of the sun to drive a more sustainable future.
A Powerful Partnership to Accelerate Decarbonization
Developed in partnership with Contact Energy, the Kōwhai Park solar project represents the first phase of Christchurch Airport’s innovative renewable energy precinct, Kōwhai Park. The collaboration between Lightsource BP, Contact Energy, and Christchurch Airport aims to deliver a transformative impact on New Zealand’s energy landscape. Adam Pegg, Managing Director of Lightsource BP APAC, expressed his excitement for this groundbreaking venture: “This project at Kōwhai Park is our first to reach this stage in New Zealand, and we are proud to have developed such strong synergies with our partners Contact and Christchurch Airport as we help progress New Zealand’s decarbonisation. Reaching this point on a project in a new country for the first time is a significant milestone.”
Financing and Construction: Paving the Way for a Green Future
The financing for the Kōwhai Park solar farm comes from a consortium of leading financial institutions, including Westpac New Zealand, Mizuho, China Construction Bank, and Intesa Sanpaolo – IMICIB. This debt package is structured as a green financing loan, emphasizing the project’s commitment to sustainability and clean energy. Mike Fuge, CEO of Contact Energy, highlighted the importance of this partnership: “Contact is thrilled to have confirmed investment of our first solar farm with our JV partner Lightsource BP. The solar farm will also be our first generation asset in the Canterbury region, increasing our geographical spread across the country.” Construction is set to begin in late 2024, with commercial operations expected by 2026. Once operational, the Kōwhai Park solar farm will generate over 275GWh per year—enough to power approximately 36,000 homes annually, marking a significant contribution to New Zealand’s renewable energy capacity.
Building for Tomorrow: A Future of Clean Energy in Aotearoa
Engineering, procurement, and construction for the Kōwhai Park project will be managed by CHINTEC, while Ventia will handle all network connection infrastructure. The joint venture between Lightsource BP and Contact Energy is just getting started, with further plans to expand their solar portfolio across New Zealand. Upcoming projects include a 175MWdc solar farm in Glorit on the Kaipara Coast and a 160MWdc solar farm in Taranaki, adjacent to Contact’s Stratford power station. As these projects come to fruition, they promise to bolster New Zealand’s renewable energy sector, supporting the country’s commitment to a sustainable future. #RenewableEnergy #SolarPower #CleanEnergy #Sustainability #NewZealandSolar #LightsourceBP #ContactEnergy #GreenFinancing #Decarbonization #KōwhaiPark #ClimateAction #SolarFarm #EnergyTransition #Aotearoa