| Decision | Consent granted Section 13(1)(a) and Section 12(1)(b) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 17 December 2025 |
| Pathways | Significant Business Assets and Sensitive land – Farm land benefit test |
| Investment | Acquisition of up to 100% interest in each of Project Genesis Holding GP Limited, Project Genesis T3 Holding GP Limited, Project Genesis Holding LP, and Project Genesis T3 Holding LP, which give interests in sensitive land. |
| Consideration | More than $100,000,000 |
| Applicant | Aquila Capital SG Holdco Pte. Ltd. Germany 58% |
| Vendor | Far North Solar Farm Limited Australia 70% |
| Background | The Applicant is a Singaporean company ultimately beneficially owned by several German nationals, and by Tokyo Stock Exchange listed company Daiwa Securities Group Inc. The Applicant and the Vendor are partners in developing and operating six solar farm projects across approximately 230 hectares of sensitive land in New Zealand. The solar farms are located in Pukenui (two solar farms), Edgecumbe, Waiotahe, Foxton and Marton. The Applicant and the Vendor are now restructuring with the Applicant acquiring all the interests in entities involved in the partnership. The Applicant intends to solely continue the development and operation of the six solar farms. The benefits likely to occur include economic benefits in the form of capital expenditure, jobs and better energy security; and advancement of government’s renewable energy policies. Consent was granted as the Applicant has met the investor test criterion and the Investment is likely to benefit New Zealand. |
| More information | Pavanie Edirisuriya DLA Piper 15 Customs Street West Auckland 1010 |