EVA releases its first renewables market report

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This month EVA released its first renewables market report for Q1 & Q2 of 2023. Our reports aim to provide regular, expert insight into Aotearoa New Zealand’s renewables market and its contribution to net zero, and cover:

  • EVA renewables tracker (ERT)
  • Power purchase agreement (PPA) and supply markets
  • Energy markets
  • Renewables projects
  • Public policy
  • Global renewables

Each report will finish with a spotlight on a specific topic, which is corporate PPA sleeving for this release. Corporate PPA sleeving is common in the UK electricity market and recently went live in New Zealand for the first time in a trial arranged by EVA.

Aotearoa has significant renewables potential, but it has been recognised that our deployment must accelerate. Currently, New Zealand’s attractiveness for clean energy investment is lower than many other countries (73 out of 136 according to BloombergNEF). Challenges for developers include resource consent timescales, higher build costs, timely network access, a shallow PPA market, and limited policy-driven support (e.g. tax incentives). However, positive signs include reforms to address resource consent speed and certainty, a growing pipeline of renewables projects and partnerships, and recent corporate PPA deals.

In our first report we explore the issues above, use insights from recent renewable PPA tenders run by EVA, and provide a view of current PPA pricing.

If you’d like to learn more, request a copy of our renewables market report and subscribe to future reports by emailing us at team@evamarketplace.co.nz