Foresight Group Agrees To Acquire NZ Clean Energy, Marking Its First Entry Into New Zealand’s Clean Energy Market

Foresight has announced an agreement to acquire NZ Clean Energy (NZCE), a New Zealand-based renewable energy development platform with a portfolio of late-stage solar and battery energy storage projects and a large future pipeline. The acquisition, made through Foresight’s Australian Renewables Income Fund (ARIF), marks the fund’s first investment in the New Zealand market and is expected to unlock more than A$500 million in capital commitments as three advanced solar projects totalling around 300 MW move into construction between 2026 and 2027.

NZCE’s platform includes three ready-to-build sites—Masterton (89 MW AC solar with storage), Darfield (106 MW AC solar with storage) and Dannevirke (72 MW AC solar with storage)—as well as more than 2 GW of solar and battery projects across about fifteen locations. Entering New Zealand comes at a moment of major change in the country’s electricity system, with rising demand driven by transport electrification, data centre growth and shifts in commercial and industrial energy use expected to increase consumption by 25 percent over the next decade.

As renewables expand to dominate the energy mix, flexible generation and storage will play a central role in managing grid stability, positioning the NZCE acquisition as a strategic step in meeting future needs. Foresight executives said the move strengthens the company’s presence across the region and combines its operational expertise with NZCE’s local capabilities to accelerate the delivery of new clean energy capacity.

NZCE leaders added that the partnership allows them to take years of development work into construction while continuing to expand their pipeline. The acquisition also advances ARIF’s goal of building a diversified trans-Tasman renewable energy platform, with Foresight now holding assets across multiple electricity markets in Australia and New Zealand.