Castle Hill Wind Farm, New Zealand

Castle Hill Wind Farm is an 860MW onshore wind power project. It is planned in Manawatu-Wanganui, New Zealand. The project is currently in permitting stage. It will be developed in single phase. Post completion of the construction, the project is expected to get commissioned in 2024.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.

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Project Type	Total Capacity (MW)	Active Capacity (MW)	Pipeline Capacity (MW)	Project Status	Project Location	Project Developer
Onshore	860	–	860	Permitting	Manawatu-Wanganui, New Zealand	Genesis Energy

Description

The project is being developed and currently owned by Genesis Energy.

The project is expected to generate 3,000,000MWh electricity and supply enough clean energy to power 370,000 households. The project cost is expected to be around $1,680m.

The wind power project consists of 286 turbines.

Development Status

Post completion of the construction, the project is expected to get commissioned in 2024.

About Genesis Energy

Genesis Energy Ltd (Genesis) is an energy company. It generates electricity and supplies it on retail and wholesale basis. The company produces power using the coal, gas, and from renewable sources such as hydro, wind and solar sources. Genesis also supplies gas and LPG, and related services to end-users; sells and purchases electricity derivatives; and provides reward points to customers. Through interests in the Kupe Joint Venture, it explores for, develops and produces gas and petroleum products, and owns the Kupe oil and gas field in the offshore Taranaki basin. Genesis is headquartered in Auckland, New Zealand.

Methodology

All power projects included in this report are drawn from GlobalData’s Power Intelligence Center. The information regarding the project parameters is sourced through secondary information sources such as electric utilities, equipment manufacturers, developers, project proponent’s – news, deals and financial reporting, regulatory body, associations, government planning reports and publications. Wherever needed the information is further validated through primary from various stakeholders across the power value chain and professionals from leading players within the power sector.