Regulating offshore renewable energy developments
The Government has agreed to proposals for regulating offshore renewable energy developments and has authorised the drafting of legislation for the offshore renewable energy regime.
This is part of the Government’s plan to double the supply of affordable, clean energy and enable New Zealand to become a low emissions economy. To help achieve this, the Government is ‘fast-tracking’ rules to encourage investment in offshore renewable energy, particularly offshore wind, to deliver clean energy at scale.
The new legislation will be designed to:
- give developers greater certainty to invest in offshore renewable energy projects.
- enable the selection of developments that best meet New Zealand’s national interests.
It will introduce two dedicated offshore renewable energy permits:
- A feasibility permit – to provide greater investment certainty through providing an exclusive right to apply for a commercial permit, and the ability to obtain environmental consents in a specified area.
- A commercial permit – to enable the building and operating of offshore renewable energy infrastructure.
Developers of offshore renewable energy will be required to obtain environmental and other relevant consents.
Offshore renewable energy is an untapped energy source. It has the potential to help New Zealand grow an economy where transport and industry are powered by clean energy. It will also help New Zealand meet its target of net-zero greenhouse gas emissions by 2050.
The Bill is expected to be introduced to the House at the end of 2024.
Find out more about the offshore renewable energy regime, including the Cabinet paper and Minute of Decisions.
Offshore renewable energy — Ministry of Business, Innovation & Employment
Read about the wider programme to electrify New Zealand in the Press release.
Next steps on Electrifying New Zealand — Beehive