Lightsource bp and Contact Energy reach financial close on 171MWdc Glorit solar PV plant in New Zealand

Type: Financing · Technology: Solar · Country: New Zealand · Capacity: 171 MWdc · Value: SGD 179M · Announced: 2026-06-18

Lightsource bp and Contact Energy reached financial close on the 171MWdc Glorit solar PV power plant in New Zealand, with the project expected to cost NZ$305 million (US$179 million) and be more than 70% project-financed. The utility-scale solar PV plant, located north of Auckland on the Kaipara Coast in Glorit, will connect to Transpower’s 220kV transmission network via a dedicated 1.5km connection and includes provisions for a 200MWh DC-coupled battery energy storage system (BESS). Construction is set to begin imminently with commercial operations targeted for the second half of 2028. The project is being developed through Glorit Solar P LP, a 50-50 joint venture between Lightsource bp and Contact Energy, marking the second financial close for the joint venture in New Zealand following the 168MWdc Kōwhai Park solar PV power plant at Christchurch Airport in August 2024. The financing package for Glorit includes contributions from Westpac, Mizuho, China Construction Bank, and Intesa Sanpaolo, supporting the development of a project designed to strengthen generation capacity in the upper North Island amid electricity supply constraints during periods of low hydro storage.

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