University of Otago Iconic Otago Project
Naseby Solar Farm
The opportunity is to partner in the long-term supply of renewable energy from the Naseby Solar Farm to two senior offtake counterparties, with increasing load demand and scalable expansion potential over time.
The project is positioned in conjunction with Otago University, Dunedin Airport, a further prominent Otago airport and EnergyLink, with diligence materials available now through the project data room.
Naseby, OtagoStage 1 40MWp · Stage 2 40MWp + Battery
0140MWp
Stage 1
consented solar generation stage0240MWp + Battery
Stage 2
solar expansion and storage optionality0380GWh
Offtake
target energy volume0412 months
Build Period
indicative construction timeframe01 / Project Summary
A shovel-ready Otago renewable infrastructure opportunity.
The Naseby Solar Farm opportunity is presented as a staged, consented solar project with a defined commercial workstream, EPC quotation, network pathway and professional adviser base. The opportunity is to partner in the long-term supply of renewable energy from the Naseby Solar Farm to two senior offtake counterparties, with increasing load demand and scalable expansion potential over time.
Naseby, Otago
Resource Consent Approved
Connection Agreement Provided
Proposed JV Structure
Location
Naseby, Otago
Size
40MWp Stage 1
Stage 2
40MWp + Battery
Status
Resource consent approved
Connection
Connection agreement provided
EPC
Quoted
Project Management
Aurecon suggested
Model
Jarden
Accounting
Nexia
Legal
PwC
Network
PowerNet
Data Room Evidence PlatePV Groundmount Layout · General Arrangement
Offtake
80GWh
Required
Firming and sleeving
Tenure
10 years+
Type
Fixed price, variable volume
Future Potential
Further offtake, data centre demand and mining MOUs
02 / Offtake Requirement
Firming and sleeving partner sought for 80GWh offtake profile.
The commercial proposition requires a gentailer capable of supporting fixed-price, variable-volume offtake under a long-tenure arrangement. The project has a forward-looking demand story, including additional offtake potential and demand-side opportunities tied to data-centre and mining MOU pathways.
Offtakers / Strategic Demand Context
University of Otago
Dunedin Airport
Firming, sleeving and network interface are the critical partnership workstreams.
03 / Diligence Readiness
Data room materials support technical, legal and commercial review.
The Drive data room has been structured around the principal diligence workstreams, including land, PPA / MOU materials, financial models, consents, grid connection and supporting documentation. This creates a clear next-step pathway for a rapid partner review.
Consent position
Resource consent documentation in the data room records Council approval with conditions for RC 220259 at 512 Ranfurly-Naseby Road.
Connection materials
The data room includes grid-connection application, acceptance, studies and connection-agreement materials supporting grid-readiness diligence.
Commercial workstream
Financial model, PPA / MOU documents, offtake workstreams and land agreement materials are available for review.
04 / Partnership Ask
Proposed JV with a gentailer partner.
The project is seeking an aligned gentailer to JV on an iconic Otago renewable infrastructure project. The immediate focus is to progress due diligence, agree firming and sleeving parameters, and move toward financial close within an indicative three-month window.
Future optionalityFurther offtake, data centre demand and mining MOU pathways.
Time to Build
12 months
Financial Close
3 months
Due Diligence
Available now
Investment
Proposed JV
Debt
Can be sourced through Goldman Sachs facility up to 85% LVR or Tier 1 NZ bank
Next Step
Open the data room and proceed to partner-level diligence.
Due diligence is available now. The project is positioned for a structured gentailer discussion covering JV structure, offtake, firming, sleeving, debt pathway and execution timing.