Lightsource bp secures NZD 267m loan for NZ airport solar project

• Lightsource bp secures NZD 267 million loan for Kowhai Park solar project in Christchurch, set to be one of New Zealand's largest renewable energy initiatives.

Lightsource bp has secured a NZD 267 million loan to support a 168-MWdc solar project in Christchurch, New Zealand. The financing was underwritten by Westpack New Zealand, China Construction Bank, and Intesa Sanpaolo - IMI Corporate & Investment Banking as a green financing loan. The project, named Kowhai Park, is a joint venture between Lightsource bp and Contact Energy Limited, with construction set to begin in late 2024 and commercial operation expected in 2026.

The Kowhai Park solar farm will be one of New Zealand's largest, with around 300,000 solar panels generating over 275 GWh annually. This project is part of the Airport's renewable energy precinct and is the first of several solar projects planned by the JV in New Zealand, including farms in Glorit and Taranaki. Engineering, procurement, and construction will be handled by CHINTEC, with Ventia responsible for network connection infrastructure.

What are the key details of Lightsource bp's Kowhai Park solar project in New Zealand?

• Lightsource bp has secured a NZD 267 million loan for the Kowhai Park solar project in Christchurch, New Zealand
  
• The financing was underwritten by Westpack New Zealand, China Construction Bank, and Intesa Sanpaolo - IMI Corporate & Investment Banking as a green financing loan
  
• The project is a joint venture between Lightsource bp and Contact Energy Limited
  
• Construction is set to begin in late 2024 with commercial operation expected in 2026
  
• The Kowhai Park solar farm will be one of New Zealand's largest, with around 300,000 solar panels generating over 275 GWh annually
  
• The project is part of the Airport's renewable energy precinct
  
• This is the first of several solar projects planned by the JV in New Zealand, including farms in Glorit and Taranaki
  
• Engineering, procurement, and construction will be handled by CHINTEC
• Ventia will be responsible for network connection infrastructure.