New Zealand & Korea forge stronger ties in Renewable Energy Innovation

In a significant move to bolster renewable energy collaboration between New Zealand and Korea, New Zealand Trade and Enterprise (NZTE) and the New Zealand Embassy in Seoul co-hosted the New Zealand Renewable Energy Seminar today at the New Zealand Residence. The event underscored the New Zealand government’s commitment to renewable energy development and investment opportunities by serving as a platform for New Zealand companies to showcase their latest innovations.

New Zealand has been at the forefront of renewable energy development. It currently has the fourth-highest renewable electricity percentage in the OECD, at around 84% and growing, and the country aims to achieve 100% renewable electricity by 2035. It also plans to transition to a carbon-neutral economy by 2050 by means of strong levels of government support for the sector. In particular, solar and wind energy presents a major opportunity for growth to meet the country’s renewable electricity goal.

In the seminar, three notable New Zealand companies presented their pioneering projects and investment opportunities, while illustrating the vitality and innovation of New Zealand's renewable energy sector. The three were:

Lightyears Solar, New Zealand Steel, and Elemental Group, in collaboration with their partner Energy Estate, Australia's leading developer and adviser of large-scale energy transition projects, discussed the substantial potential for renewable energy growth in New Zealand. They emphasised how this development could assist not only in New Zealand's decarbonisation journey but also benefit other nations, such as Korea, by bringing demand closer to the energy source and exporting value-added products.

The event also spotlighted New Zealand's commitment to renewable energy development, from its abundant and secure energy supply to its track record of innovation and strong government backing. In addition, New Zealand's strategic approach to fostering collaboration and attracting investment, particularly through initiatives like the Active Investor Plus visa program, which offers a pathway to residency for investors, were highlighted.

"We are very pleased to have this great opportunity for New Zealand's leading-edge renewable energy-related companies to introduce their competitive strengths and investment opportunities to relevant industry professionals in Korea,” stated Dylan Lawrence, General Manager of Investment at NZTE. “Our goal is to facilitate investment in renewable energy projects and collaboration with Korean entities in the renewable energy industry.”

Mr. Lawrence added, “New Zealand ranks well internationally for the proportion of energy produced by renewable sources, with one of the highest shares of electricity generation from renewable sources in the world. Our world-class technologies and solutions in advanced renewable spaces match Korea’s challenge in creating advancements in areas such as green hydrogen. I expect this seminar to set the stage for future collaboration in renewable energy while diversifying and expanding long-standing industry relationships between New Zealand and Korea.”

Green hydrogen has been identified as a major opportunity for New Zealand for both its domestic use and substantial export potential and New Zealand and Korea have also begun collaborating on a study for the large-scale export of green hydrogen.

For New Zealand based media enquiries please contact:

Julie Chadwick - Senior Communications Specialist

P: 021 196 1652

E: julie.chadwick@nzte.govt.nz

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