Marsden Point solar project approved

Wed, 30 Oct 2019

The cost of Refining NZ’s proposed 31-hectare solar array has come in at the lower end of expectations. The $37 million project, approved by the company’s board, was mooted in July with a cost range of $36-39 million. It will be funded with a combination of non-recourse project debt and about $10 million of equity, the company said today. The equity component had previously been estimated at $12-15 million. “Tapping into solar-generated electricity is expected to shave around $3-4 million from our annual grid electricity bill and will red...

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