| Decision | Consent granted Section 12(1)(b) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 11 March 2025 |
| Pathway | Sensitive land - Farm land benefit test |
| Investment | Up to 75% of the shares in Concord Bay Limited which gives an indirect interest in approximately 15.8 hectares of land located at 3311 B State Highway 26, Tatuanui, Waikato. |
| Consideration | $810,000 |
| Applicant | Concord Green Power Limited Hong Kong 45% China 17% United States 8% Norway 4% Various 26% |
| Vendor | Harbour Infrastructure Limited New Zealand 90.91% Australia 9.09% |
| Background | The Applicant is wholly owned by Concord New Energy Group Limited, an investment holding company listed on the Hong Kong stock exchange with headquarters in Singapore. It develops, builds and operates solar farms. The land has historically been used for wastewater disposal and seasonal non-dairy cattle farming. The Applicant will develop and operate the land as a solar farm. The main benefits to New Zealand are likely to include capital investment, creation of jobs and advanced technology. The Investment will also contribute to meeting New Zealand’s targets and requirements under the National Policy Statement for Renewable Electricity Generation 2011 and the Emissions Reduction Plan 2024. 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 | Brigid McArthur Greenwood Roche (Auckland) P O Box 106006 AUCKLAND |
The assessment report for this decision was published as part of an Official Information Act release:
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