Genesis Energy and FRV Australia End Solar Development Joint Venture

Genesis Energy and FRV Australia have mutually agreed to terminate their solar development joint venture in New Zealand while maintaining joint ownership of the 63MWp Lauriston solar PV power plant in Canterbury. 

The decision follows separate strategic reviews by both companies.

Joint Venture Termination and Continuing Collaboration

Tracey Hickman, Chief Operating Officer of Genesis Energy, stated that the dissolution reflects “the natural evolution of the companies’ respective strategies and the growing capability of the development team within Genesis.” 

Both companies emphasised that the termination was reached on good terms, recognising their successful collaboration in accelerating solar development in New Zealand.

Lauriston Solar Farm: A Milestone Project

Despite ending their development partnership, Genesis Energy and FRV Australia will continue to jointly own and operate the Lauriston Solar Farm, New Zealand’s largest solar PV power plant, which was commissioned in April 2025. 

Situated on a 93-hectare site west of Christchurch near the Rakaia River in Canterbury Plains, the facility features over 90,000 solar PV modules. Construction began in April 2024 and was led by Melbourne-based EPC company Beon Energy Solutions, with a total cost of NZ$104 million (US$60 million). Financing was provided by the Bank of New Zealand and MUFG Bank Ltd.

Initially, the joint venture (JV) formed in late 2021 aimed to develop up to 500MW of solar capacity across New Zealand over five years, targeting around 750GWh of annual generation, with Lauriston being the first major achievement.

Genesis Energy's Renewables Expansion

Genesis Energy is pursuing its Generation Development Programme to increase renewable generation capacity and reduce reliance on gas. The company’s Gen35 strategy aims for 95 percent renewable generation by 2035. 

Recent portfolio additions include a 127MWp solar PV project near Edgecumbe in the Bay of Plenty, expected to commence generation in 2026. Beyond solar, the firm is actively developing wind and geothermal projects alongside a 100MW / 200MWh battery energy storage system co-located with the Huntly Power Station on the North Island, projected to be operational by late 2026.

FRV Australia’s Growing Portfolio

FRV Australia, part of Jameel Energy and the Canadian pension fund OMERS, remains active in renewable energy markets across Australia and New Zealand. 

In 2025, it announced acquisitions, including the 190MW Axedale Hybrid Solar & Battery Storage Project and began constructing the 100MW/200MWh Terang Battery Energy Storage System in Victoria. 

Its operational solar assets span several Australian states, including the 125MW Lilyvale and 2.45MW Dalby farms in Queensland, 106MW Winton Solar Farm in Victoria, and multiple plants in New South Wales, such as the 70MW Goonumbla, 115MW Metz, 56MW Moree, and 90MW Sebastopol facilities, along with the newly operational Walla Walla site.