NEW ZEALAND – Aquatics Primary Production will make $100m investment to build an offshore wind farm in New Zealand, a company spokesman said on Monday.
The company will use the money to finance the construction of a new facility on a remote island near Auckland’s northern tip and to invest in new equipment, the spokesman said.
New Zealand has a strong renewable energy sector, and the country’s renewable energy targets are already among the highest in the world, but it is also grappling with climate change, which is threatening to choke off the countrys ability to generate electricity and generate jobs.
The government has been pushing for a $500 million investment to develop the countryas a low carbon economy, but there has been little progress on that.
Newly-elected Prime Minister Winston Peters said he would put an extra $300 million into the offshore wind industry.