Singapore investor eyes sunny returns in NZ solar projects

SC Oscar sees much potential for growth, as the sun powers only 1% of nation’s electricity

- David Fogarty Deputy Foreign Editor

A Singapore-based renewable energy investor sees a bright future in solar power in New Zealand, where only about 1 per cent of the nation’s electricity is powered by the sun.

That means there is plenty of room to expand and potential to tap the growing future energy demand, said Mr Conor McCoole, chief executive and co-founder of Singapore-based SC Oscar Fund Management.

SC Oscar, via its portfolio company Ranui Generation, already has three large-scale solar power plants at advanced stages of development. One of these — the Twin Rivers project near Kaitaia on the far northern tip of the North Island - recently started feeding power into the grid. The 31 megawatt-peak (MWp) project, when fully commissioned in December, will be able to power 6,000 homes.

SC Oscar hopes to commence construction of the other two solar projects in the Taranaki region of the North Island in the first quarter of 2026.