Genesis and FRV conclude solar development partnership

Genesis Energy and FRV Australia have concluded their solar development joint venture following separate strategic reviews, though the Lauriston solar farm, operational since November 2024, will continue under their co-ownership. Genesis states the decision reflects evolving company strategies and the increased capabilities of its internal development team, acknowledging FRV's instrumental role in accelerating New Zealand solar development.

Genesis's generation development program highlights significant renewable and storage projects. The Lauriston Solar farm is expected to generate approximately 100GWh annually, while the Edgecumbe Solar project, targeting Q2 FY26 for its Final Investment Decision, is projected at 230GWh per annum. Leeston Solar, also awaiting a Final Investment Decision in Q3/4 FY26, is anticipated to produce around 110GWh per annum.

The company is also progressing with various other projects, including Foxton Solar (345GWh per annum) in the fast-track process, Tauhara Geothermal PPA (549GWh per annum) operational from January 2025, and Kaiwaikawe Wind PPA (225GWh per annum) with first generation expected in Q3 FY27. Additionally, Genesis is developing BESS Stage 1 (200MWh) under construction, aiming for Q1 FY27 operation, and BESS Stage 2 is currently under review.