New Zealand's first offshore windfarm may begin construction by 2030, pending adjustment to its regulatory settings.
Offshore Wind Energy Partnerships Director Justine Gilliland says "this is the first of four projects we're planning in three regions across the country and there will be about 60 turbines in this 900 megawatt development.
"We're anticipating that this project will create about 600 jobs, the majority of which will be ongoing."
These potential 900 megawatts equate to almost 50% more than all of New Zealand's 17 onshore windfarms combined.
It would generate 10% of the country's electricity supply, enough to power over 400,000 homes.
South Taranaki mayor Phil Nixon believes "it's going to be great for our district, great for our region, and great for the country."
However, offshore wind turbines are a big investment, with some being roughly the size of Auckland's Sky Tower.
According to sustainable energy expert Ralph Sims, "when we build onshore wind, it's about 6 cents a kilowatt wholesale price... offshore wind at the moment is maybe double that... just because of the sheer cost of construction.
"The message for Minister Woods is to keep pushing renewable electricity she's a strong advocate for sure... and wind is a key component.
"We certainly need to maintain this target of 95% renewable electricity over the next few years... and as demand grows we've certainly got to encourage offshore wind as well as onshore wind."
Minister of Energy and Resources Megan Woods claims the money is in this year's budget but New Zealand has got to get the regulatory regime right before it can go ahead.
"I don't want to wait 4, 6, 8 years to realise these opportunities, so while we get the final regime which probably will take between sort of 3, 4, 5 years, we're not going to wait that long, we will have an interim regime.
"I've given a commitment to industry that I'll come back to them either the very end of this year, or very beginning of next year with some details around what that regime will look like."
SHARE ME