Buddle Findlay is pleased to have advised Westpac New Zealand on the non recourse project financing for the Kapuni Wind Farm and Green Hydrogen Project – one of New Zealand's most complex renewable energy projects. The project is being developed by Hiringa Energy in partnership with Ballance Agri-Nutrients, Nova Energy, Parininihi ki Waitōtara Incorporation and the Ministry of Business, Innovation and Employment and is the first project in New Zealand to integrate utility-scale wind generation, industrial renewable electricity supply and large-scale hydrogen production. The project, once operational, will generate around 100 GWh of renewable energy annually through four 6.4 MW Vestas turbines, producing up to two tonnes of green hydrogen per day via a 5 MW electrolyser.
The Buddle Findlay team was led by Daniel Collins and Peter Owles, with support from Ed McGimpsey. Anderson Lloyd, led by Anton Trixl and Geoff Busch, advised Hiringa Energy.
Daniel Collins commented: "We are delighted to see this project achieve financial close – having first started work on this project in early 2021. A special thank you to the team at Westpac, led by William May, and a huge congratulations to all involved, particularly the Hiringa Energy and Anderson Lloyd teams".
William May from Westpac commented: "We are thrilled to celebrate the successful financial close of the Kapuni Wind Farm and Green Hydrogen Project. This achievement represents the result of five years’ of commitment from all the teams involved on this first-of-its kind project. The support from the team at Buddle Findlay as lender’s counsel was invaluable and we hugely appreciated their guidance throughout this process".
