| Decision | Consent granted Section 12(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 2 December 2025 |
| Pathway | Sensitive land – Farm land benefit test |
| Investment | A leasehold acquisition of approximately 73.79 ha of farm land at 948 Somerton Road, Rakaia. |
| Consideration | The annual lease is $216,000 per annum plus adjusted CPI. |
| Applicant | BENZ Somerton Limited North America 41% |
| Lessors | Bruce Murray Wild and Erin June Wild New Zealand 100% |
| Background | The Applicant is owned by I Squared Capital, a global infrastructure investor, ultimately owned by ANZ Renewables GMF II Investments Pte. Ltd, a Singaporean investment company. The Applicant intends to develop a solar farm on the land with an anticipated installed AC capacity of approximately 30 megawatts. Once operational, the energy generation from the solar farm is expected to match the load of approximately 8,000 homes. The land is currently used for cropping and grazing. Some grazing will continue once the solar farm is operating. Consent was granted as the Applicant has met the investor test criterion and the benefit likely to occur as a result of the Investment would result in benefit to New Zealand. The Minister of Finance has decided that the investment is not contrary to New Zealand’s national interest. |
| More information | Glenn Shewan Bell Gully (Auckland) PO Box 4199 Auckland 1140 |