Genesis greenlights $236m Edgecumbe solar farm, advancing Gen35 strategy

Genesis Energy has announced its final investment decision (FID) for the Edgecumbe Solar Farm in the Bay of Plenty. The project will have a capacity of 136 MWp, projected to generate approximately 238 GWh annually, enough to power around 29,800 homes.

Construction is set to begin shortly, with the first generation expected in the second half of FY27. Horizon Networks will manage the grid connection, and METLEN will handle the engineering, procurement, and construction. The estimated project cost is approximately NZ$236 million.

This investment aligns with Genesis’s Gen35 strategy to build up to 500MWp of solar generation, complementing its hydro and battery storage assets. The project will initially be funded on Genesis's balance sheet, with the company open to capital recycling opportunities post-commissioning. This approach supports Genesis's capital management strategy, which includes direct investment, joint ventures, and Power Purchase Agreements (PPAs), while maintaining a BBB+ credit rating.