NZGIF Launches Solar Finance Programme

  • The solar finance programme attracted $90 million of private capital from investors.
  • The Climate Bonds Initiative-certified solar loan will initially finance Aotearoa, New Zealand’s largest residential PPA (Power Purchase Agreement) portfolio.

New Zealand Green Investment Finance (NZGIF) has led a $170 million capital raise, attracting international investors First Sentier Investors and Natixis Investment Managers to launch its newly created NZGIF Solar Finance programme. The Climate Bonds Initiative-certified solar loan will initially finance Aotearoa New Zealand’s largest residential PPA (Power Purchase Agreement) portfolio, managed by solarZero.

NZGIF developed the solar loan programme and completed the capital raise, attracting $90 million of private capital from First Sentier Investors and Natixis Investment Managers alongside its own investment of $80 million. NZGIF Solar Finance is NZGIF’s first private debt placement with international co-investors. It provides the long-term, fixed-rate debt required to accelerate distributed solar in Aotearoa, New Zealand.

The NZGIF Solar Finance programme is the first issuance by a New Zealand-based financial institution to secure Climate Bonds Initiative certification. The Climate Bonds Initiative awards this certification for climate-aligned debt instruments following a science-based assessment of the programme’s sustainability attributes.

The certification is used globally by bond issuers, governments, and investors to prioritise investments which genuinely contribute to addressing climate change. Solar energy rapidly transforms New Zealand’s energy landscape through new grid-connected solar farms and distributed solar installations in homes, schools, farms, and businesses.

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