New Zealand partners with BlackRock on NZD 2bn Net Zero Fund

The New Zealand Government has partnered with US mega-investor BlackRock to launch a NZD 2bn ($1.21bn) Net Zero Fund as the country strives to reach 100% renewable electricity, backing battery storage, wind, solar and green hydrogen.

Announced today (August 8), New Zealand’s Prime Minister, Chris Hipkins, said with “record” levels of renewable electricity generation in recent years, the country is well-positioned to be in of the best first countries in the world to deliver a “fully renewable electric system.”

The new Net Zero Fund will look to crowd investment from Crown companies and entities, including pension funds and private sector funds to accelerate the country’s renewable electricity transition.

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