| Decision | Consent granted Section 12(1)(a) and Section 13(1)(b) of the Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 31 July 2026 |
| Pathways | Sensitive land - Farm land benefit test and significant business assets |
| Investments | Establishment of a renewable energy business Acquisition of leasehold interests in up to 1,536 hectares of land at: a) 103 Brookside Road, Glenbrook, Auckland, |
| Consideration | At least $300 million |
| Applicant | NZCE Investments Limited Australia 96% Cayman Islands 4% |
| Vendors | Shareholders of NZ Clean Energy Limited NZCE Holding Limited |
| Background | The Applicant is a New Zealand subsidiary of Australian Renewables Income Fund, which is managed by Foresight Group, a renewable energy investor. The Applicant is buying shares in NZ Clean Energy Limited and five other New Zealand companies to support the establishment of a renewable energy business, including developing and operating four solar farms and a battery energy storage system. The renewable energy projects will be developed on sensitive farm land that is currently used for beef, sheep, dairy farming and meat production. The key benefits that are likely to occur as a result of the investment include increased capital investment, permanent employment of up to 26 full-time equivalent staff, and advancement of government policy related to renewable energy production. |
| More information | Chris Bargery Anderson Lloyd (Auckland) P O Box 399 Shortland Street Auckland 1140 |