Latest news with #RegionalInfrastructureFund
Scoop
5 days ago
- Business
- Scoop
Northland New Zealand's Economic Powerhouse
Rt Hon Winston Peters Minister for Rail Hon Shane Jones Minister for Regional Development Associate Minister for Energy Northland's economic future is on display with significant developments either underway or on the near horizon, Rail Minister Winston Peters and Regional Development Minister Shane Jones say. 'The burgeoning energy, export and economic powerhouse of Marsden Point means New Zealand will prosper with much-needed jobs, trade, manufacturing and economic development,' Mr Peters says. 'A refurbished tank, a collaboration between Channel Infrastructure and Z Energy, will soon help power the country's aviation sector by suppling jet fuel to Auckland Airport through the pipeline spanning Marsden Point to Wiri,' Mr Jones says. 'A commercial dry dock will bring specialist skills and international customers to New Zealand, maintaining large ships in a manner that a maritime nation desperately needs,' Mr Peters says. 'We are getting closer to finalising procurement of a provider for the Regional Infrastructure Fund part-funded drydock at Northport, which offers the best harbour in New Zealand as it is deep, there is plenty of land, and transport connectivity is only going to get better. 'As an exporting nation, we need strong connections for shipping lines and Northport offers the efficient shipping connections to bolster port services in Tauranga and Auckland. 'We are pleased to confirm that KiwiRail will open discussions, under commercial agreements, on its Marsden Point Rail Link design data for investors and builders – informing the best approach for building and funding this project,' Mr Peters says. 'While this on its own is great news for New Zealand's fuel resilience, other initiatives being undertaken here such as the potential development of sustainable aviation fuel (SAF), the upcoming construction of a bitumen import terminal, diesel peaker and biorefinery make Marsden Point a world-class proposition,' Mr Jones says. 'As I announced earlier this year, I am particularly interested in how we, as a country, develop these areas further and attract investment into our regions. I will be taking a paper to Cabinet soon on the use of special economic zones (SEZs) to do just that. With attractive regulatory regimes and tax treatment, SEZs could be the fuel that really gets New Zealand's economic engine roaring.'
NZ Herald
30-07-2025
- Business
- NZ Herald
Shane Jones unveils plan to double geothermal energy by 2040
Jones said he saw potential for the geothermal sector to expand and diversify into areas such as the extraction of minerals from geothermal fluid, and more use of direct geothermal energy to power industrial, commercial and agricultural applications. Among the proposals were improving access to geothermal data and ensuring regulatory settings were fit for purpose. The draft strategy paper said 'supercritical' geothermal technology – which involves drilling deeper into the Earth's crust – could offer up to three times more energy than current geothermal energy. The Government has ring-fenced $60 million from the Regional Infrastructure Fund to fund research into the 'super' resource. Jones said $5m of that funding has been drawn down for work on the detailed design and cost to drill the first of three exploratory deep wells in the Taupō Volcanic Zone. New Zealand's first, and the world's second, geothermal power station was Wairakei, near Taupō, which started generating electricity in 1958. Wairakei is now one of 17 geothermal power plants across eight geothermal fields in New Zealand – which deliver a combined generation capacity of 1207 megawatts. Unlike wind and solar, geothermal energy is consistently available. In 2024, geothermal energy accounted for 8741 GWh, or 19.9%, of New Zealand's annual electricity generation. The country's geothermal reservoirs (up to 350C and located between 1km and 3.5km deep) have long powered renewable energy. The Taupō Volcanic Zone offered a rare opportunity to access superhot fluids at depths beyond 5km and temperatures exceeding 400C, the paper said. Jamie Gray is an Auckland-based journalist, covering the financial markets and the primary sector. He joined the Herald in 2011.
Scoop
04-07-2025
- Business
- Scoop
Canterbury Water Storage Boost A ‘Gamechanger' For Farmers
A $56.4m Government investment in water storage and irrigation will be ''a gamechanger'' for Canterbury farmers, the Associate Regional Development Minister says. Minister Mark Patterson said three Canterbury water storage and irrigation projects will receive loans from the Government's Regional Infrastructure Fund. Mr Patterson made the announcement at the Taggart family's woolshed at Cust, on a rainy Thursday morning (July 3). The Balmoral water storage facility run by the Amuri Irrigation Company (AIC) will receive $20m, Waimakariri Irrigation Ltd (WIL) will receive $15.6, and the Opuha Dam and irrigation scheme in South Canterbury $20.8m. Mr Patterson, who was joined by Waimakariri MP Matt Doocey, Kaikōura MP Stuart Smith and Waimakariri Mayor Dan Gordon, said the announcement was ''a momentous day for Canterbury''. ''It strengthens water resilience and unlocks new economic opportunities. ''Access to reliable manageable water is a gamechanger to our primary sector.'' Mr Gordon said WIL's proposed 8.2 million cubic metre water storage facility at Wrights Road, near Oxford, has been in the pipeline for nearly 20 years. ''WIL is not just an irrigation scheme. It is a lifeline for our region, irrigating an impressive 23,000ha and supporting around 170 shareholders. ''It is one of the largest schemes in the South Island, and its commitment to environmental stewardship and sustainable water management is commendable.'' Mr Gordon said WIL's biodiversity projects had uncovered rare species like the Canterbury mudfish and tadpole shrimp, which shows investment in irrigation could have positive environmental outcomes. WIL chief executive Brent Walton said his company's shareholders included a mix of lifestyle blocks, and sheep, cropping and dairy farmers. He said the $15.6m loan was the boost needed to kickstart the project. ''The key thing is it benefits all types of farmers, and it is about the future of the district and the benefits we will bring to future generations.'' Mr Walton said water storage could enhance rivers and groundwater and be used for other uses beyond irrigation. Work on the new facility will begin next year and expected to be completed for the 2028/29 season. AIC chairperson David Croft said his company plans to build a pond to store up to 10 million cubic metres of water and can be used in the winter and shoulder seasons, using existing resource consents. ''It is quite clear the rural sector is leading the New Zealand economy, and this investment can help our economic recovery. ''And we will end up with a great asset for the whole of North Canterbury.'' The company has 132 shareholders covering 28,000ha across three water schemes, including 60 percent dairy farming, and the rest a mix of dairy support, sheep and beef, and cropping. Opuha Water Ltd chief executive Bjorn Triplow said the investment will help fund the upgrade of the Opuha Dam. ''Beyond its role in supporting sustainable farming, the dam has catalysed growth in downstream industries, delivering an annual net economic benefit of $315m to the South Canterbury region.'' Mr Triplow said the dam also provided a safeguard in extreme weather events, such as the 2021 flood. Enterprise North Canterbury chief executive Heather Warwick said the investment will unlock land for irrigation, boosting productivity and creating jobs. ''Water is a gamechanger for our farmers. They say water is gold in farming,'' she said. Enterprise North Canterbury is the economic development arm of the Waimakariri and Hurunui district councils. But Greenpeace spokesperson Will Appelbe described the investment as ''a dirty deal for dirty water''. ''It is deeply irresponsible to use public money to fund the expansion of these irrigation schemes, which will lead to more intensive dairy, more cows, and more pollution.''
NZ Herald
03-07-2025
- Business
- NZ Herald
Government invests $56.4m in Canterbury water storage, irrigation for farmers
A $56.4 million Government investment in water storage and irrigation will be 'a gamechanger' for Canterbury farmers, the Associate Regional Development Minister says. Minister Mark Patterson said three Canterbury water storage and irrigation projects will receive loans from the Government's Regional Infrastructure Fund. Patterson made the announcement at the Taggart
Scoop
23-06-2025
- Business
- Scoop
Regional Infrastructure Fund Backs Solar Energy
Three solar projects in regional New Zealand will receive loans of up to $28.1 million combined from the Regional Infrastructure Fund to ensure security of local energy supply and community resilience, Regional Development Minister Shane Jones and Energy Minister Simon Watts say. 'The loans for these projects in Bay of Plenty, Hawke's Bay and Rakiura/Stewart Island will allow them to get under way this year, helping them to improve economic prosperity and resilience. They will also create up to 150 jobs during construction,' Mr Jones says. 'These projects support the Coalition Government's objective of doubling renewable energy generation by 2050 and enabling a more reliable and affordable electricity supply for regional New Zealand,' Mr Watts says. The three projects are: Rakiura/Stewart Island – a suspensory loan of up to $15.35m to Southland District Council to build the first stage of a solar farm, and network upgrades, replacing high-cost, diesel-generated electricity for the island's 494 permanent electricity connections Ongaonga, Hawke's Bay – a loan of up to $8m to local lines company Centralines Ltd to build a 35ha solar farm to generate 52GW annually and provide about 9000 electricity connections in Central Hawke's Bay with a local source of generation Te Kaha, Bay of Plenty – a loan of up to $4.75m to Te Huata Charitable Trust to build an 804kW-peak solar farm to ensure reliable electricity supply to about 320 homes and businesses. The Rakiura/Stewart Island project is expected to reduce diesel consumption by 200,000 litres within two years of beginning. During construction, about 40 high-skilled workers will be required. When complete, more competitive energy costs will help business growth on the island including in aquaculture, tourism and hospitality. The Ongaonga solar farm will improve electricity network resilience and support more competitive pricing for residents and commercial customers. Power could also be supplied to the national grid at peak generation. About 80-100 roles are expected to be needed during construction. The Te Kaha project will provide more reliable, competitively priced power for a Māori community that regularly suffers electricity outages. The solar farm battery will have storage capacity for up to 72 hours which will protect the community from power outages. Reliable power will also help the Ōpōtiki region with its bid to be an aquaculture centre of national significance. During construction, up to 12 people will be employed. "Solar power is playing an increasingly important role in increasing electricity generation in New Zealand. It will help us reach our renewable energy targets and bolster the security and affordability of our energy supply,' Mr Watts says. 'The Government has been making great progress on a series of exciting new solar and battery initiatives recently. I look forward to seeing these three projects make a real difference for these communities." Associate Regional Development Minister Mark Patterson travelled to Rakiura for the announcement today. He said the project should lead to considerable savings for residents. 'The Regional infrastructure Fund is contributing to energy security where communities cannot gain investment from other sources, and there are wider benefits for the communities,' Mr Patterson says. The Regional Infrastructure Fund is a capital fund with the primary purpose of accelerating infrastructure projects, particularly with a focus on water storage, energy, and resilience, which will make a difference in the regions. Funding is approved in principle and announced, after which contracts are negotiated. Some funding may depend on completion of business cases. Payments are made once agreed milestones are met. These are set as part of contract negotiations and differ from project to project.
