Copenhagen Infrastructure Partners (CIP) and NZ Super Fund have set up a joint-venture (JV) to explore the potential of large-scale offshore wind projects in the South Taranaki Bight in New Zealand. Partners are considering developing 1 GW of offshore wind capacity in a first phase, enough to supply over 11% of the current electricity demand in New Zealand; the project could be later expanded to 2 GW to meet the rising electricity demand in the country. CIP and NZ Super Fund have started to assess the feasibility of such a project, which could be commissioned by the end of the decade.
According to New Zealand's power transmission system operator (TSO) Transpower, electricity demand should increase from the current 43 TWh to 70 TWh by 2050, due to the electrification of transport and process heat. New Zealand aims to reach 100% renewable energy by 2030.
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