Somerton Solar Farm Powers New Zealand's Future
ANZA Power has announced a long-term virtual Power Purchase Agreement with Fonterra, securing 80% of the output from the Somerton Solar Farm in New Zealand. This deal is a significant milestone for ANZA Power, which is backed by global infrastructure investor I Squared Capital.
Marking a crucial phase for the Somerton project, this agreement provides a stable foundation to progress towards financial closure and the start of construction. With a capacity of 42 MWdc, the solar farm is expected to generate approximately 65,000 MWh of renewable electricity annually.
Carlo Frigerio, CEO of ANZA Power, expressed pride in this milestone, stating, “Signing our first New Zealand offtake with Fonterra is a proud moment for the newly formed ANZA Power team and a significant milestone that brings construction one step closer at our Somerton project.”
Fonterra’s Commitment to Renewable Energy
Fonterra, a major dairy co-operative, views this partnership as a step to enhance the security of electricity supply while ensuring long-term price stability. Situated near Fonterra’s Darfield and Clandeboye manufacturing sites, the solar farm will provide direct benefits to the cooperative’s operations.
Anna Palairet, Chief Operating Officer of Fonterra, highlighted the importance of this collaboration: “This partnership supports the growth of new renewable energy in New Zealand, helping strengthen security of supply for the electricity sector and increasing our access to renewable electricity.”
Set to connect to EA Network’s grid, the Somerton Solar Farm represents ANZA Power’s most advanced project in New Zealand. The project is expected to become operational by the first quarter of 2028.
ANZA Power is a fast-growing energy transition platform across New Zealand and Australia. It is supported by a USD $300 million equity commitment from I Squared Capital, a global infrastructure investment manager with over US$60 billion in assets under management.
Currently, the ANZA Power portfolio includes a mix of solar, battery, and hybrid renewable energy projects across different sites in Australia and New Zealand. This partnership with Fonterra underscores ANZA’s commitment to supporting New Zealand’s energy transition.
