Govt’s green fund raises $170m debt for solar power

Rooftop solar is becoming affordable through new business models. (Image: solarZero)

Tue, 19 Sep 2023

BlackRock-owned New Zealand solar power company solarZero is the target for the largest-ever investment to be made by the government’s NZ Green Investment Fund.NZGIF is placing $80 million of its capital alongside $90m from two international investors, Sydney-based First Sentier Investors and Paris-headquartered global funds manager Natixis, to create a new investment-grade class of certified lending for solar electricity installations.The whole $170m raised will allow Auckland-based solarZero to refinance existing debt, with a view to fu...

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Economy

ANZ increases cash profit as net interest margins get squeezed

ANZ New Zealand has reported a 4% increase in its half-yearly profit despite pressure squeezing its margins.The bank's cash profit increased to $1.15 billion in the six months to March, up from $1.1b in the same period last year, but stable compared to the second half of its...

Riley Kennedy 10:50am

Law & Regulation