Genesis Energy and Spark NZ announce 10-year PPA

Genesis Energy and Spark New Zealand have announced a new 10-year Power Purchase Agreement (PPA) aimed at supporting renewable energy development in Aotearoa. Under the PPA, Spark will purchase all electricity generated by Genesis’ upcoming 63 MW solar farm in Lauriston, Canterbury. This initiative aligns with Spark’s goal of reducing its Scope 1 and 2 emissions by 56% by 2030, based on a FY20 baseline. The Lauriston solar farm is expected to start generating power by the end of 2024 and will supply approximately 60% of Spark’s annual electricity needs. Genesis will continue to supply the remaining 40% from the grid. Renewable Energy Certificates will be used to ensure transparency in energy tracking. The agreement is set to commence on January 1, 2025.