Masdar signs agreement to explore up to NZ$1 billion of renewable energy investment in New Zealand

Abu Dhabi Future Energy Company – Masdar P.J.S.C., a global clean energy leader, will explore up to NZ$1 billion of investment in New Zealand renewable energy, under a Memorandum of Understanding (MoU) signed with Invest New Zealand.

The MoU sets out how the two will identify and progress projects in solar, wind and battery energy storage, including co-investment with New Zealand companies and Māori businesses.

Masdar has a global clean energy portfolio of more than 65 gigawatts (GW) of renewable energy across four continents and is targeting a portfolio capacity of 100GW by 2030.  Renewable energy is one of Invest New Zealand’s priority sectors.

The MoU builds on the New Zealand-UAE Comprehensive Economic Partnership Agreement (CEPA) and the investment agreement signed alongside it. Both include specific commitments to encourage investment in decarbonisation and clean technology. 

Trade and Investment Minister Todd McClay says:

“This MoU is exactly the kind of investment we wanted to see come out of our trade agreement with the UAE.

“The CEPA was built to encourage investment between our two countries, including in clean technologies. This MoU turns that into something practical. It connects Masdar’s capital and know-how with renewable energy projects here in New Zealand.

“Investment on this scale helps build the energy infrastructure we need to grow the economy and reach our goal of doubling renewable electricity generation by 2040.”

Mohamed Jameel Al Ramahi, Chief Executive of Masdar says:

“New Zealand has a significant opportunity to harness its renewable energy resources to strengthen energy security, support economic growth and power future industries. At Masdar, we believe long-term partnerships are fundamental to unlocking this potential. We look forward to working with Invest New Zealand and local partners, combining their market knowledge with our two decades of global expertise in developing, investing in and operating large-scale clean energy projects. Together, we aim to unlock new opportunities that deliver lasting value for New Zealand and its people.”

Invest New Zealand Chief Executive Robert Wall says:

“This agreement demonstrates Invest New Zealand’s role in bringing international capital and capability together with high-quality New Zealand opportunities. Renewable energy is a priority investment sector, with significant potential to support productivity and economic growth. Our focus now is practical: working with Masdar and New Zealand partners to identify a prioritised set of renewable energy opportunities and help them progress towards commercial due diligence.”

Masdar and Invest New Zealand will now set up a steering committee and project team to agree a work programme and a pipeline of opportunities.

ENDS

About Invest New Zealand

Invest New Zealand is the single, coordinating agency for international institutional and strategic investors seeking to increase investment into New Zealand, supporting the Government’s objectives to lift productivity and deliver sustainable, long-term economic growth.   

Invest New Zealand’s purpose is to materially increase the flow of international capital into New Zealand; targeting sectors with the greatest growth and productivity potential.

We systematically engage with international investors to gain a detailed understanding of their investment priorities and the regulatory, policy, and market constraints that inhibit investment in New Zealand and promote New Zealand as an investment destination, particularly in our priority sectors.

High-quality and insight-led engagement with global investors allows Invest New Zealand to advise Ministers, companies and domestic investors on the availability of international capital, and the steps necessary to improve New Zealand’s attractiveness for investment.

About Masdar

Established in 2006, Masdar (Abu Dhabi Future Energy Company) is leading the global energy transformation by investing in, developing and operating renewable energy projects that deliver commercial returns while providing reliable, affordable clean power worldwide.

With over 20 years’ experience in renewables, Masdar has a diverse, derisked portfolio totalling over 65 gigawatts (GW) across six continents, including the world’s fastest growing energy markets.

Jointly owned by TAQA, ADNOC and Mubadala, Masdar is driving the scale-up of renewables worldwide, targeting a portfolio capacity of 100GW by 2030.

For more information please visit: https://www.masdar.ae and connect: facebook.com/masdar.ae   and https://x.com/Masdar 

Media Enquiries

For Invest New Zealand media enquiries, please contact: media@investnz.govt.nz or 

For Masdar media enquiries, please contact: press@masdar.ae