Genesis Energy and FRV Australia have decided to end their joint venture for solar project development in New Zealand, though both companies will continue to jointly own and operate the 63MW Lauriston Solar Power Plant in Canterbury.
The decision followed a review of their business plans by both companies. They agreed that their partnership had come to a natural conclusion. However, they said that the split was mutually decided and that they were proud of their achievements in growing New Zealand’s solar industry.
The Lauriston plant, which started operating in April 2025, is still the largest solar power site in New Zealand. It covers 93 hectares, has more than 90,000 solar panels, and produces enough electricity to power thousands of homes.
The project cost around NZ$104 million (about US$60 million) and was built by Beon Energy Solutions.
Their original joint venture, launched in 2021, had aimed to develop 500MW of solar power capacity across the country. Lauriston was the first major step in that plan.
Even though the partnership has ended, both companies are still focused on renewable energy. Genesis Energy is increasing its solar, wind, and geothermal projects as part of its Gen35 plan, which aims to produce 95% clean energy by 2035.
At the same time, FRV Australia is growing fast in both Australia and New Zealand, with major projects like the 190MW Axedale Hybrid Solar and Battery Project and the 100MW Terang Battery System in Victoria.
This decision marks a new direction for both companies, but New Zealand’s largest solar plant will continue to operate and power thousands of homes.
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