| Decision | Consent granted Section 12(1)(b) and Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 20 April 2026 |
| Pathways | Benefit to New Zealand and Significant business assets |
| Investment | Acquisition of up to 50% of the shares in HENZ Midco Limited, which gives an interest in sensitive land being approximately 262.4387 hectares of land located in Te Aroha, Waikato |
| Consideration | Withheld under s9(2)(b)(ii) and s9(2)(k) of the Official Information Act 1982 |
| Applicant | Harmony Energy Holdings (TSF) Limited New Zealand 50% United Kingdom 50% |
| Vendor | Harmony Energy Limited United Kingdom 57% New Zealand 28% Portugal 15% |
| Background | The Applicant is ultimately owned by Peter Grogan and Peter Kavanagh, who are both (direct or indirect) shareholders of Harmony Energy Limited. Harmony Energy Limited is engaged in developing renewable and battery energy systems in the United Kingdom and parts of Europe. The Vendor was granted consent in 2024 to establish a business for the development, construction, and operation of solar farms across New Zealand and for Harmony Energy NZ Limited to acquire an interest in land to build a solar farm (Case 202300371). The Applicant is now acquiring the shares held by the Vendor in HENZ Midco Limited, who wholly owns Harmony Energy NZ Limited. This will give the Applicant an interest in sensitive land. The Applicant intends that the solar farm being developed by Harmony Energy NZ Limited will continue. The benefits likely to occur include economic benefits in the form of oversight or participation by a New Zealander, New Zealand’s international image and trade, reduced risk of an illiquid asset; and advancement of government’s renewable energy policies. Consent was granted as the Applicant met the investor test criterion and the investment is likely to benefit New Zealand. |
| More information | Michael Loan Russell McVeagh PO Box 8 Auckland 1140 |