KWM guides Lightsource on NZ$267m financing of major NZ solar farm

King & Wood Mallesons (KWM) has guided Lightsource bp on the NZ$267m financing of the 168MW Kōwhai Park solar project in Christchurch.

Lightsource bp has teamed up with Contact Energy to develop the renewable energy project, which is set to produce about 275GWh of electricity annually. It will be linked to Orion’s 66kV distribution network.

A group of banks provided the funding, including Westpac New Zealand, Mizuho, China Construction Bank, and Intesa Sanpaolo – IMICIB.

“Kōwhai Park solar farm is strategically positioned to generate renewable energy at scale”, KWM lead partner Rod Smythe said, describing the project as one that would “play a pivotal role in advancing New Zealand’s renewable energy goals”.

The electricity generated will help Christchurch Airport to reach its electrification and decarbonisation goals, as the project is located near the airport. The project will also mark the initial stage of the wider Kōwhai Park ecosystem, KWM said.

“Kōwhai Park marks a significant milestone as our first project in New Zealand to reach this stage. We're proud to have established a strong partnership with Contact and Christchurch Airport, contributing to New Zealand’s journey towards decarbonisation”, Lightsource bp associate GC Will Sellars said.

Construction is expected to begin later this year, with completion targeted for 2026. CHINTEC has been contracted to manage the solar farm’s engineering, procurement, and construction (EPC), while Ventia will handle the network connection.

KWM was the Australian legal counsel for Lightsource bp and Contact Energy. Smythe received support from senior associates Aaron Brooks and Morgan Clune, as well as solicitors Annelise Nguyen, Miranda Hutchesson, and Hue Pham. Special counsel Amelia Mellor took the lead on the aspects of the deal related to the power purchase while senior associate Nicole Wieringa took point on the EPC arrangements.

Buddle Findlay was the New Zealand legal counsel.