The New Zealand government is taking measures to promote the development of offshore energy and natural resources, particularly by revising legislation to address conflicts between offshore wind energy and seabed mining. Energy Minister Simon Watts emphasized the country’s significant offshore wind potential, which could drive economic growth while providing power for homes and businesses. To support this, the Offshore Renewable Energy Bill, introduced last year, aims to create a clear regulatory framework that encourages investment in the sector.
The government has faced pressure from the industry, as key projects have stalled. BlueFloat Energy, which sought opportunities in New Zealand, previously warned that the country needed to prioritize either offshore wind or seabed mining, leading to its withdrawal from the market. In contrast, a partnership between Copenhagen Infrastructure Partners and the NZ Super Fund is moving forward with plans for a substantial wind farm off the South Taranaki coast, investing around $3 billion and targeting an initial capacity of 1 GW, with potential for expansion.
Cabinet approval for amendments to the draft legislation aims to enhance investment certainty for both offshore wind and seabed mining, specifically impacting seabed mining rather than oil and gas sectors. Watts noted that these changes will allow the government to designate marine areas for offshore renewable projects while pausing new seabed mining permits. Although the first designated areas have not yet been established, South Taranaki is a likely candidate.
The Taranaki Offshore Partnership has already made significant investments in the wind farm project, conducting wind measurements and surveys, with expectations of entering the construction phase by 2030. Completion of the project is anticipated within three to four years.
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