New Zealand has ambitious targets for renewable energy. As laid out in its “Budget 2021”, the country now targets 90% renewable domestic electricity production by 2025 and 100% by 2030. The country already produces a considerable amount of its domestic electricity from traditional hydropower (~57%, 2020, Statista);
though new hydropower projects have met significant resistance due to environmental concerns.
In addition to the national targets above, many of the Maori communities in New Zealand are seeking to achieve energy autonomy, and are looking to find scalable, renewable energy generation solutions to do this.
FITS technology offers an ideal opportunity for power production projects in New Zealand, capitalizing on the huge river resource in the country, without bringing the environmental impacts of traditional hydropower. With this in mind, Achelous Energy has been in contact with the UK Department of Industry and Trade (DIT) in New Zealand since Q3 2021, and is seeking to align its business offering with the frameworks being put in place as part of the forthcoming UK / New Zealand trade agreement.
CUSTOMER VALUE PROPOSITION
Provision of continuous renewable power to off-grid communities and businesses within the Maori Iwis, enabling true energy autonomy at community level.
Offset of local diesel generation costs and creation of local skilled jobs through fabrication and operations and maintenance.
TARGET REGIONS AND PROGRESS
Achelous Energy is in discussion with both UK DIT and the Aotearoa Wave and Tidal Energy Association (AWATEA) to advance initial project resource assessment activities already undertaken for the Northland and Waikato regions of North Island.
Through UK DIT, Achelous Energy is seeking meetings with Maori community representatives to discuss potential locations for deploying a pilot FITS project in the country, likely in Northland.
Draft Memorandum of Understanding (MOU) issued to AWATEA, and under discussion. The MOU is to put in place a partnership agreement for assistance in delivery of a pilot FITS project in Northland.
New Zealand current uses 6.6TWh/year electricity from non-renewable sources (2020, MBIE)
The country has an estimated hydrokinetic resource of over 3TWh/year (2020, RE Journal)
Achelous Energy has identified 25+ sites suitable for FITS deployment