{"id":479564,"date":"2026-06-16T05:32:09","date_gmt":"2026-06-16T05:32:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/479564\/"},"modified":"2026-06-16T05:32:09","modified_gmt":"2026-06-16T05:32:09","slug":"fonterra-signs-solar-power-deal-with-anza-for-canterbury-plant","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/479564\/","title":{"rendered":"Fonterra signs solar power deal with ANZA for Canterbury plant"},"content":{"rendered":"<p class=\"EoZyGajGNiPxVf\" style=\"display:none\">ANZA said the grid connection and site infrastructure will be engineered to accommodate a future battery energy storage system without a major rework.<\/p>\n<p class=\"EoZyGajGNiPxVf\" style=\"display:none\">Once operational, the project is expected to generate about 65,000MWh of renewable electricity annually.<\/p>\n<p class=\"EoZyGajGNiPxVf\" style=\"display:none\">Fonterra chief operating officer Anna Palairet said the partnership supported the growth of new renewable energy in New Zealand, helping strengthen security of supply for the electricity sector.<\/p>\n<p class=\"EoZyGajGNiPxVf\" style=\"display:none\">\u201cAt the same time, it increases the co-operative\u2019s access to renewable electricity and gives us long-term price certainty, helping ensure our operations are set up for the future,\u201d she said.<\/p>\n<p class=\"EoZyGajGNiPxVf\" style=\"display:none\">\u201cSomerton Solar Farm will connect to EA Network\u2019s grid and is located between Fonterra\u2019s Darfield and Clandeboye manufacturing sites,\u201d she said.<\/p>\n<p class=\"EoZyGajGNiPxVf\" style=\"display:none\">ANZA said Somerton was the company\u2019s most advanced New Zealand project to date.<\/p>\n<p class=\"EoZyGajGNiPxVf\" style=\"display:none\">A \u201cvirtual\u201d PPA is a contract structure in which a power buyer agrees to purchase a project\u2019s energy for a pre-agreed price, thereby acting as a financial hedge against volatile electricity prices.<\/p>\n<p class=\"EoZyGajGNiPxVf\" style=\"display:none\">In this agreement, the utility-scale solar project receives the market price at the time the energy is sold.<\/p>\n<p class=\"EoZyGajGNiPxVf\" style=\"display:none\">If the market price is greater than the fixed price, the buyer receives the difference.<\/p>\n<p class=\"EoZyGajGNiPxVf\" style=\"display:none\">If the market price is less than the fixed price, the buyer pays the project to make up the difference.<\/p>\n<p class=\"EoZyGajGNiPxVf\" style=\"display:none\">Jamie Gray is an Auckland-based journalist, covering the financial markets, the primary sector and energy. He joined the Herald in 2011.<\/p>\n<p>Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our\u00a0<a href=\"https:\/\/www.nzherald.co.nz\/my-account\/profile\/newsletters\/?from=cmp\" target=\"_blank\" rel=\"noopener noreferrer nofollow\" title=\"https:\/\/www.nzherald.co.nz\/my-account\/profile\/newsletters\/?from=cmp\">Business newsletter<\/a>\u00a0\u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"ANZA said the grid connection and site infrastructure will be engineered to accommodate a future battery energy storage&hellip;\n","protected":false},"author":2,"featured_media":479565,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[19064,241276,138,8126,7224,3468,241277,3233,7226,2082,71,29163,13313,3180,111,139,69,27504,4885,10112,1136,3263,13673,219614,31706,5652,4166,241278,199,52193,102],"class_list":["post-479564","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-agreement","tag-anza","tag-business","tag-canterbury","tag-dairy","tag-deal","tag-equitybacked","tag-farm","tag-fonterra","tag-for","tag-from","tag-generation","tag-giant","tag-near","tag-new-zealand","tag-newzealand","tag-nz","tag-output","tag-plant","tag-power","tag-private","tag-project","tag-purchase","tag-rakaia","tag-signed","tag-signs","tag-solar","tag-somerton","tag-take","tag-virtual","tag-with"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/479564","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=479564"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/479564\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/479565"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=479564"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=479564"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=479564"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}