Energy price spikes: UK experts push for offshore wind projects

Venture Taranaki believes that, given the challenges facing the energy sector, offshore wind is one solution that can secure future supplies.

The regional development agency is currently hosting a delegation from the UK which wants to help realise the potential of offshore wind energy in the country.

Chairman Kelvin Wright said that with extremely low water levels in hydroelectric lakes, high wholesale electricity prices and dwindling gas reserves, now is the right time to think about offshore wind.

The UK has the world’s second largest offshore wind market after China and has extensive experience in the issues required for success, such as financing, developing a local and international supply chain and complying with regulations, Wright said.

Representatives from the Foreign, Commonwealth and Development Office and the British High Commission visited Taranaki to present the findings of research into trade and partnership opportunities.

British High Commissioner to New Zealand Iona Thomas said the energy targets New Zealand and the UK have set for themselves require unprecedented and transformational change.

“As the global shift towards sustainable energy accelerates, New Zealand’s offshore wind sector is ready to respond, and the UK is ready to use our experience to address the challenges and take the strategic approach needed to unlock New Zealand’s potential.”

Delegation report, Aotearoa New Zealand – Developing the Offshore Wind Supply Chainoutlined key areas where UK expertise can drive partnerships with Taranaki and New Zealand supply chain businesses.

During the visit, the delegation spoke with Te Puna Umanga Venture Taranaki, Ara Ake, Ngā Iwi o Taranaki, developers and Port Taranaki to discuss the report’s findings and hear about the region’s progress in the industry.

Wright welcomed Britain’s interest.

“As we continue to explore what offshore wind can mean for Taranaki and New Zealand, international collaboration is key. Having countries like the UK offer practical support is a hugely positive step in our journey.”

Wright said the challenge was that it didn’t happen overnight.

“We will need a unified approach from government and industry to both get offshore wind up and support the region through the transition.

“If we get it right, offshore wind offers the region the opportunity to transform our specialist workforce into renewable energy, helping New Zealand meet its future energy needs, sustainable development goals and opening the door to the development of industries such as green hydrogen and synthetic fuels.”

Wright said the visit was timely because the New Zealand government is due to present a regulatory framework to parliament before the end of the year, which would be the next step towards allowing offshore wind development.

The CEO of Ara Ake, New Zealand’s future energy hub, Cristiano Marantes said collaboration and innovation were essential for the country to achieve its goal of doubling renewable energy production.

“The valuable lessons we are learning from the UK, the world’s second largest offshore wind market, are accelerating the opportunities for offshore wind development here in New Zealand.”

In 2020, Venture Taranaki released Offshore wind energy discussion paper, which was the first to highlight its potential in the region. It also organises an annual Offshore Renewable Energy Forum in partnership with Ara Ake.