Surprised and frustrated: NZGIF on BlackRock and SolarZero

The SolarZero liquidation raised more questions from the Finance Minister. (Image: NZME)

Thu, 05 Dec 2024

The New Zealand Green Investment Fund says prior to early November, it had no idea BlackRock had changed its mind about backing SolarZero.BlackRock tipped SolarZero into liquidation on Nov 26, saying it had been advised by directors the company was no longer sustainable.With other investors, the NZ Green Investment Fund (NZGIF) had loaned money to the company to install solar panels and batteries in households under lease-type arrangements.About $115 million had been advanced from the NZGIF fund, but this has not been caught up in the liquidati...

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