A battery energy storage project backed by UK and local developers is set to launch in Waikato, expanding New Zealand’s energy infrastructure. Eku Energy and Helios Energy have confirmed their partnership for the build.
Eku Energy Enters New Zealand Market
Eku Energy is backed by Macquarie Group and Canadian pension fund BCI. The company has acquired its first New Zealand asset and is partnering with Helios Energy, a Wellington-based developer active in solar and storage since 2020.
Battery Storage to Strengthen Grid and Stabilise Prices
The Waikato project is designed to strengthen the national grid by providing firming capacity, enabling greater integration of renewables such as solar and wind, and helping to stabilise wholesale energy prices.
Kate Binns, Chief Operating Officer of Helios, emphasised the strength of the partnership. “The development with Eku partnered Eku’s global expertise and investment capability in battery storage with Helios Energy’s local knowledge, relationships, and track record in NZ,” she said. “The deployment of large-scale battery energy storage systems was crucial to NZ’s energy future.”
Storage Projects Build Momentum Nationwide
The Waikato battery will join a growing national pipeline of storage projects. According to Transpower, there are currently 26 wind or solar projects with batteries and six standalone battery developments in progress. However, many remain in early stages. Only three are in the delivery phase, while 17 are still being investigated and 12 have lodged applications.
Chantelle Bramley, Executive General Manager of Operations at Transpower, stressed the need for urgency. “It’s essential for New Zealand that industry and investors pick up the pace and move planned projects quickly through the financing, consenting, design, build, and commissioning phases so that they can start contributing much-needed megawatts.”
Firm Capacity Needed to Support Intermittent Generation
Transpower’s upcoming 2025 Security of Supply Assessment reveals that more than 85% of pending energy generation is intermittent, largely wind and solar. Bramley warned that these sources “must be supported by firm and flexible power system resources that can kick in when the wind is not blowing and the sun is not shining.”
Government Increases Support for Renewable Projects
The government committed $28.1 million in loans to support three new regional solar projects earlier this week. Regional Development Minister Shane Jones said the projects could create up to 150 construction jobs, while Energy Minister Simon Watts reaffirmed the government’s long-term goal of doubling renewable generation by 2050.
“Solar power is playing an increasingly important role… It will help us reach our renewable energy targets and bolster the security and affordability of our energy supply,” Watts said.
The Eku-Helios deal is the latest in a series of market-driven energy developments in New Zealand. International partnerships are playing an increasingly central role with battery storage capacity projected to more than double by 2025.