- Acquisition will add 205 MWac of consented, construction-ready solar capacity across the Ruapehu and Hawke's Bay regions
- The transaction is Anza's first acquisition of new projects in New Zealand since launching the platform in January 2026, further expanding its development pipeline
17 September 2026, Auckland - Anza Power ("Anza"), the Australian and New Zealand renewable energy developer and operator backed by global infrastructure investor I Squared Capital ("I Squared"), today announced it has entered into an agreement to acquire the Karioi and Ongaonga Solar Farms from Helios Energy Hold LP ("Helios"), a New Zealand-based developer of grid-scale solar and battery energy storage (BESS) projects.
Together, the two projects represent 205 MWac (236 MWdc) of consented solar and BESS generation capacity, expected to produce approximately 411,400 MWh of clean electricity annually – enough to power the equivalent of approximately 58,000 New Zealand homes.
Carlo Frigerio, Chief Executive Officer of Anza Power said: "Karioi and Ongaonga are well located consented projects, ready to move into construction. Together they add 205 MWac to our New Zealand pipeline and bring us a step closer to the affordable, low-carbon generation the country needs. We want to acknowledge the quality of the development work Helios has done, and the landowners, mana whenua and communities who have shaped both projects. We look forward to continuing that partnership as we take them through construction and into operations."
Jeff Schlichting, Managing Director of Helios Energy said, "The Karioi and Ongaonga projects represent years of careful development work alongside landowners, mana whenua and local communities. It’s rewarding to hand over these projects to a partner with the capability and the long-term capital to build them. Anza gives both projects the strongest possible pathway to construction and operation. For the Helios team, seeing these projects built is an important milestone, and we couldn’t ask for a better custodian to take them forward.”
Located near Tangiwai in the Ruapehu District, the 110 MWac (125 MWdc) Karioi Solar Farm holds resource consent granted by Ruapehu District Council, following an application process that spanned more than two years of planning, design and stakeholder engagement. The project will connect to Transpower's Tangiwai substation, an existing transmission network connection point identified for its combination of strong solar resource and cooler ambient air temperatures. The site will be leased from a local multigenerational farming family and will remain in agricultural production through ongoing sheep grazing, alongside deer grazing on surrounding paddocks. The project design also preserves natural wetlands and new provides for new native vegetation planting along site boundaries.
The 95 MWac (110 MWdc) Ongaonga solar farm is located on Taylor Road in Ongaonga, in the Central Hawke’s Bay District. The project holds resource consent granted following the conclusion of a public hearing process in late 2025 and benefits from a strong solar resource and a technically advantageous connection to Transpower's nearby Waipawa substation. The Ongaonga site boundaries were carefully defined to ensure appropriate setbacks from residential dwellings and local roads, and to exclude the most productive grazing land adjacent to the Tukituki River, which will remain in pastoral use for cattle grazing.
Both projects have been shaped by consultation with mana whenua, local councils, the Department of Conservation, Fire and Emergency New Zealand, and other key stakeholders, with both consents vetted through the Resource Management Act (RMA) consenting process. Anza is committed to continuing this engagement as both projects move towards construction.
Once construction begins, the two projects are together expected to create approximately 150 jobs during construction, delivering a positive economic contribution to the Ruapehu and Central Hawke's Bay communities respectively through local employment, procurement and training opportunities.
The acquisitions further expand Anza’s growing portfolio of New Zealand solar assets, including the Somerton Solar Farm in Canterbury, where Anza signed its first New Zealand offtake agreement with Fonterra in June 2026. In Canterbury, Anza is also advancing the 100 MWac Norwood Solar Farm, and the 70 MWac Highfield Solar Farm at Charing Cross, together representing a further 170 MWac of solar capacity with BESS optionality at the Highfield site.
Established in January 2026, Anza now holds a portfolio across Australia and New Zealand of approximately 1.5 GW of solar PV and 3.5 GWh of battery energy storage.
For Helios, the sale reinforces its position as a highly credible New Zealand-based developer of quality large-scale solar and BESS projects. The Helios team has delivered over 600 MWac of consented development projects across the North and South Islands.
About us:
About Anza Power
Anza Power is a renewable energy developer, owner and operator delivering integrated energy solutions across Australia and New Zealand. Established in January 2026, the company develops, builds and operates a growing portfolio of renewable generation, natural gas and battery energy storage assets, providing reliable, flexible and lower-carbon power solutions that support businesses, communities and the broader energy transition. Backed by I Squared Capital, one of the world's leading independent infrastructure investors, Anza combines deep local development expertise with long-term capital and global operational capabilities. Its portfolio comprises approximately 1.5 GW of solar PV and 3.5 GWh of battery energy storage capacity, with a substantial and growing development pipeline. Learn more at www.anzapower.com.
About I Squared Capital
I Squared Capital is a leading independent global infrastructure investor dedicated to the mid-market, managing over $60 billion in assets. Founded in 2012, I Squared has evolved into one of the most diverse infrastructure investors in the world, with investments across power & utilities; transportation & logistics; digital infrastructure; environmental infrastructure; and social infrastructure, providing essential services to millions of people worldwide. Today, the portfolio includes over 100 companies operating in more than 115 countries. Headquartered in Miami, the firm has offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney and Taipei. Learn more at www.isquaredcapital.com.
About Helios
Helios Energy is a New Zealand-based developer of large-scale solar and BESS projects, working to move New Zealand towards a zero-carbon future through greater access to low-cost clean energy. Learn more at www.heliosenergy.co.nz.
Contact details:
Anza Power- [email protected] +61 413274204
Helios- [email protected]