NZ Clean Energy
NZ Clean Energy is a New Zealand renewable energy developer that builds and operates utility-scale solar photovoltaic projects co-located with battery storage, selling output via long-term Power Purchase Agreements to industrial users (notably Fonterra) and the national grid. It is owned by Foresight Group.
- Company typePrivate
- Founded2022
- HeadquartersAuckland, New Zealand
- Headcount1–10
- GTM typeB2B
- OfferingServices
What NZ Clean Energy does
NZ Clean Energy (NZCE) is a New Zealand-based renewable energy development platform that originates, builds, and operates utility-scale solar photovoltaic power plants paired with battery energy storage systems (BESS). Founded in 2022 and headquartered in Auckland, the company owns three ready-to-build projects — Darfield (117 MW DC solar plus up to 106 MW / 200–400 MWh battery in Canterbury), Masterton (100 MW DC / 89 MW AC plus up to 91 MW / 200–400 MWh battery in Wairarapa), and Dannevirke (107 MW DC plus up to 72 MW / 150–300 MWh battery in Tararua District) — together representing approximately 300 MW of solar capacity and an annual generation target of roughly 565 GWh (enough to power ~68,000 NZ homes). NZCE also maintains a development pipeline exceeding 2 GW across approximately 15 sites throughout New Zealand.
The company operates a vertically integrated developer–builder–operator model. It secures land directly from agricultural landowners (minimum 15-hectare parcels, often on sheep-grazing farmland), manages all resource consents and grid connections (33–110 kV) into Transpower and Orion substations, and supplies output through two channels: long-term 10–15 year Power Purchase Agreements with major industrial energy users (notably dairy co-operative Fonterra, with whom a landmark PPA for Darfield was signed in June 2026) and wholesale sales into the national grid via a dual-offtake design.
In March 2026, NZCE was acquired by UK investment manager Foresight Group through its Australian Renewables Income Fund (ARIF), with A$500M+ (~US$316–360M) committed to fund the development and construction of the ready-to-build portfolio during 2026–2027. NZCE now operates as a private portfolio company under Foresight, with founders Harry Simpson (CEO) and George Hughes (COO) retaining leadership. The company reports 1–10 employees and is functionally pre-revenue, with first commercial operations expected once construction is completed in 2026–2027.
NZ Clean Energy firmographics
Firmographics- Name
- NZ Clean Energy
- Legal name
- NZ Clean Energy
- Website
- https://nzcleanenergy.nz
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- NZ Clean Energy is a New Zealand renewable energy developer that builds and operates utility-scale solar photovoltaic projects co-located with battery storage, selling output via long-term Power Purchase Agreements to industrial users (notably Fonterra) and the national grid. It is owned by Foresight Group.
- Ownership category
- akta.pro rank
NZ Clean Energy industry classification
Industry- Product category
- Utility-Scale Solar and Battery Storage Generation
- NAICS
- Solar Electric Power Generation (221114), Electric Power Generation (22111)
- SIC
- Electric Services (4911)
- akta.pro primary industry
- Utility-Scale BESS Project Development & Ownership (IPP/Developer) (EUAFAAAA)
- akta.pro secondary industries
- BESS Financing, Insurance & Contracting (Tax Equity, PPA/Tolling, Warranties) (EUAFAAAI), Renewable Energy Industrial Facilities Construction (Solar, Wind, Storage) (IMAFADAD)
Keywords
Where NZ Clean Energy is headquartered
LocationHeadquarters
- HQ city
- Auckland
- HQ country
- New Zealand
- HQ region
- Oceania
Offices4 records
Markets served
NZ Clean Energy business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain
Revenue model
- Power Purchase Agreements (Industrial): Long-term PPAs (10–15 years) with major industrial energy users such as Fonterra, under which NZCE sells renewable electricity generated from its solar and battery projects at agreed rates. This provides contracted, predictable revenue over the project lifecycle.
- Wholesale Electricity Sales to Grid: Projects supply electricity to the national grid through Transpower network connections, generating merchant or contract-for-difference revenues from spot market electricity sales. Dual offtake design allows simultaneous supply to industrial offtakers and the national grid.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels4 records
NZ Clean Energy product offering
Product offeringCore offering
NZ Clean Energy develops, builds, manages, and operates utility-scale solar photovoltaic (PV) and battery energy storage (BESS) projects across New Zealand. Its three ready-to-build projects (Darfield 117 MW, Masterton 100 MW, Dannevirke 107 MW) plus a 2GW+ development pipeline generate renewable electricity sold primarily through 10-15 year Power Purchase Agreements (PPAs) to major industrial offtakers such as Fonterra, with surplus electricity supplied to the national grid via Transpower and Orion substations.
Product overview
NZ Clean Energy operates as a renewable energy development platform that develops, builds, manages, and operates utility-scale renewable energy infrastructure. The company offers three core solar and energy storage projects: the Darfield Solar & Energy Storage Project (117 MW), the Masterton Solar & Energy Storage Project (100 MW), and the Dannevirke Solar & Energy Storage Project (107 MW). Each project combines solar photovoltaic generation with battery energy storage systems and is designed for a 40-year operational lifespan. The company also maintains a development pipeline exceeding 2GW across approximately 15 locations in New Zealand, with projects spanning solar and battery storage technologies.
Differentiator
Problem solved
Functional benefit
Products and services
- Darfield Solar & Energy Storage Project A 117 MW (DC) utility-scale solar photovoltaic project in Canterbury, New Zealand, with co-located battery energy storage of up to 106 MW / 200-400 MWh. Designed for a 40-year operational life, it generates approximately 210-218 GWh annually, reduces carbon emissions by 12,000 tonnes per year, and is located near Fonterra's Kimberley Factory with grid connection via Orion's Kimberley Substation.
- Masterton Solar & Energy Storage Project A 100 MW (DC), 89 MW (AC) utility-scale solar PV project in Waingawa, Wairarapa, with co-located battery energy storage of up to 91 MW / 200-400 MWh. Designed for a 40-year operational life, it generates approximately 166 GWh annually, reduces carbon emissions by 12,000 tonnes per year, and connects to the Masterton Transpower Substation at 33 kV.
- Dannevirke Solar & Energy Storage Project A 107 MW (DC) utility-scale solar PV project in the Tararua District, with co-located battery energy storage of up to 72 MW / 150-300 MWh. Designed for a 40-year operational life, it generates approximately 181 GWh annually, reduces carbon emissions by 13,000 tonnes per year, and connects via a double circuit coupler on the 110 kV network to the Transpower Dannevirke Substation and 220 kV backbone at Bunnythorpe.
Quantifiable outcome
- Powers approximately 23,000 homes (Darfield), 25,000 homes (Dannevirke), and 20,000 homes (Masterton)
- +3 more outcomes
Companies that use NZ Clean Energy
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
NZ Clean Energy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
NZ Clean Energy partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- FonterracoreNZ Clean Energy signed a long-term Power Purchase Agreement with dairy co-operative Fonterra to supply renewable electricity from the Darfield project. The 129-MW project (or 117 MW DC per project page) near Fonterra's Darfield/Kimberley manufacturing site in Canterbury is expected to generate approximately 218 GWh annually. The agreement spans 10–15 years and is described as one of New Zealand's first large-scale solar PPAs between a major industrial energy user and an independent renewables developer. It is Fonterra's largest Solar PPA with an independent operator.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
NZ Clean Energy competitors and assessment
Company assessmentDirect peers
- Lightsource bp: Global utility-scale solar PV developer/owner-operator with integrated battery storage and long-tenor corporate PPAs — the closest global analogue to NZCE's solar+BESS, IPP-only model.
- Longroad Energy: Developer, owner and operator of utility-scale wind, solar PV and battery storage projects in North America with a project portfolio business model — direct structural analogue.
- Recurrent Energy: Developer, owner and operator of utility-scale solar PV and battery storage projects globally — a like-for-like IPP model with project development plus long-term PPA offtake.
- Cypress Creek Renewables: US-based developer, owner and operator of utility-scale solar PV and battery storage projects selling output under long-term PPAs — closely mirrors NZCE's IPP-plus-PPA template.
Broad incumbents
- Genesis Energy: NZ integrated utility (generation, retail) investing in utility-scale renewables including solar + storage; comparable as a same-market incumbent expanding into utility solar+BESS.
- Contact Energy: NZ mixed-generation utility (hydro, geothermal, wind) with growing solar and battery investments — same-country incumbent building out utility-scale renewables.
- ENGIE Renewables: Global IPP developing, owning and operating utility-scale solar and battery storage — relevant as a large incumbent operating an integrated solar+BESS development platform internationally.
- Meridian Energy: New Zealand's largest renewable generator (hydro, wind, solar). A domestic incumbent that is also developing utility-scale solar and battery projects, comparable as a same-market renewables developer/operator.
Regional players
- Infratil: Listed NZ infrastructure investor with material renewable energy exposure (including Mercury, Longroad) — relevant comparable on the investment/ownership side of utility-scale renewables in NZ.
- Manawa Energy: NZ-listed renewable generator (predominantly hydro with growing solar), a smaller NZ peer expanding into utility solar development and offtake structures in the same market.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
NZ Clean Energy social profiles
Digital presenceNZ Clean Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
NZ Clean Energy leadership team
Management profileNumber of profiles
Profiles7 records
NZ Clean Energy funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NZ Clean Energy M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NZ Clean Energy
What does NZ Clean Energy do?
NZ Clean Energy develops, builds, manages, and operates utility-scale solar photovoltaic (PV) and battery energy storage (BESS) projects across New Zealand. Its three ready-to-build projects (Darfield 117 MW, Masterton 100 MW, Dannevirke 107 MW) plus a 2GW+ development pipeline generate renewable electricity sold primarily through 10-15 year Power Purchase Agreements (PPAs) to major industrial offtakers such as Fonterra, with surplus electricity supplied to the national grid via Transpower and Orion substations.
Is NZ Clean Energy a public or private company?
NZ Clean Energy is a private company. It is classified as private equity controlled and is currently operating.
When was NZ Clean Energy founded?
NZ Clean Energy was founded in 2022. It employs 1 to 10 people.
Where is NZ Clean Energy based?
NZ Clean Energy is headquartered in Auckland, New Zealand, in the Oceania region.
How does NZ Clean Energy make money?
Two revenue lines are on record. Power Purchase Agreements (Industrial) is the primary driver. The others are wholesale Electricity Sales to Grid.
Who are NZ Clean Energy's main competitors?
Direct peers on record are Lightsource bp, Longroad Energy, Recurrent Energy and Cypress Creek Renewables. Broad incumbents are Genesis Energy, Contact Energy, ENGIE Renewables and Meridian Energy. Regional players are Infratil and Manawa Energy.
Does NZ Clean Energy have an API?
No public API is recorded for NZ Clean Energy.
What industry is NZ Clean Energy in?
NZ Clean Energy's product category is Utility-Scale Solar and Battery Storage Generation. Its primary akta.pro industry code is EUAFAAAA, Utility-Scale BESS Project Development & Ownership (IPP/Developer), with a secondary code of EUAFAAAI, BESS Financing, Insurance & Contracting (Tax Equity, PPA/Tolling, Warranties). Its NAICS code is 221114 and its SIC code is 4911.