16 June 2026, Auckland – ANZA Power (“ANZA”), the Australia and New Zealand energy developer and operator backed by global infrastructure investor I Squared Capital, today announced the signing of a long-term virtual Power Purchase Agreement (PPA) with Fonterra for 80% of the generation output from their Somerton Solar Farm.
The agreement with Fonterra represents a significant milestone for the project, by providing a strong foundation of contracted offtake to support its progression to financial close and construction.
A partnership grounded in New Zealand's energy transition
The Somerton Solar Farm will deliver 42 MWdc of solar generation capacity, with the site also Battery Energy Storage System (BESS) Ready, with grid connection and site infrastructure engineered to accommodate a future BESS without major rework. Once operational, the project is expected to generate approximately 65,000 MWh of renewable electricity annually.
Carlo Frigerio, CEO, ANZA Power: "Signing our first New Zealand offtake with Fonterra is a proud moment for the newly formed ANZA Power team and a significant milestone that brings construction one step closer at our Somerton project. We are excited by the opportunities in the New Zealand market and are particularly proud that our first offtake will support Fonterra, a long-standing co-operative that is a positive force for economic growth in New Zealand’s regions, including the Ashburton district where our project is located."
Anna Palairet, Chief Operating Officer, Fonterra: “This partnership supports the growth of new renewable energy in New Zealand, helping strengthen security of supply for the electricity sector. At the same time, it increases the Co-operative’s access to renewable electricity and gives us long term price certainty, helping ensure our operations are set up for the future.”
Somerton Solar Farm will connect to EA Network’s grid and is located between Fonterra’s Darfield and Clandeboye manufacturing sites. Fonterra's commitment to enter into a long-term PPA with ANZA Power and contract 80% of the project's output reflects the co-operative's ongoing efforts to manage its electricity cost and to improve security of electricity supply by supporting the development of new renewable generation in New Zealand.
The project represents ANZA Power’s most advanced project in New Zealand to date. ANZA is a fast-growing energy transition platform across New Zealand and Australia, backed by a USD $300 million equity commitment from global infrastructure investor I Squared Capital, a leading global infrastructure investment manager with over US$60 billion in assets under management.
The ANZA Power portfolio currently includes a mix of solar, battery and hybrid renewable energy projects across different sites in Australia and New Zealand, totalling approximately 1.5 GW of solar PV and 3.5 GWh of battery energy storage.
Key Project Information
|
Detail |
Description |
|
Project |
Somerton Solar Farm |
|
Developer |
ANZA Power |
|
Location |
Near Rakaia, Canterbury, New Zealand |
|
Solar Farm size (MWdc) |
42 MW |
|
Energy Generated per annum |
65,000 MWh |
|
Expected Commercial Operations |
Q1 2028 |
About ANZA Power
ANZA Power is a renewable energy and decarbonisation platform operating across Australia and New Zealand. Backed by a USD $300 million equity commitment from I Squared Capital, ANZA Power develops, owns, and operates integrated energy solutions, including renewable generation and battery storage, to deliver reliable, firm, and sustainable power solutions for businesses and communities. Learn more at https://www.anzapower.com.
About Fonterra
Fonterra is a New Zealand dairy co-operative owned and supplied by thousands of farming families. As a global B2B dairy provider, Fonterra goes to market through its global Ingredients brand NZMP and global Foodservice brand Anchor Food Professionals. Fonterra provide high-quality products, valued for their dairy innovation and science expertise and New Zealand provenance, to customers in more than 100 countries around the world.
Contact details:
ANZA Power
Via David Imber Advisory
Phone +61 413 274 204
Fonterra
Phone: +64 21 507 072
