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Offshore wind has ‘critical’ role in New Zealand net-zero target
National Impact Study says offshore windfarms could add nearly NZ$50Bn to GDP and create 10,000 jobs
The development of an offshore wind energy industry in Aotearoa (New Zealand) will play a critical role in helping the country meet rapidly increasing demands for clean energy and the country’s net-zero commitment, says a new study.
The study, National Impact Study: New Zealand Offshore Wind Industry, was released in March 2024 at the Offshore Renewable Energy Forum in Taranaki and was undertaken by PWC with a group of energy sector participants, infrastructure providers and economic development agencies.
The study examined the economic, social and environmental impacts of a national offshore wind energy industry to identify both positive and negative outcomes.
New Zealand’s considerable offshore wind resource has not yet been commercialised, but is significant given the country’s position in the ‘roaring forties’ latitudes and given its extensive coastline and exclusive economic zone (EEZ), which is the ninth largest in the world.
Four locations with high potential for development have already been identified - South Taranaki, the west Auckland-Waikato coast and the Foveaux and Cook Straits. Some of these areas are considered among the best offshore wind resources in the world. Many developers are now undertaking feasibility and design studies in these locations, with nearly 12 GW of offshore wind generation projects announced. The emerging view is the first offshore windfarm will be built in the early 2030s.
The key findings of the study conducted by PWC include the fact that New Zealand will need to triple the volume of renewable energy generated to meet its net-zero targets. Offshore wind offers one of the most credible pathways to increase generation at scale in conjunction with other technologies.
PWC found that offshore wind could conservatively contribute NZ$50BN (US$30Bn) to GDP between now and 2050, creating 10,000 jobs during the build-out phase, a further 2,000 ongoing jobs in operations and maintenance, and additional opportunities across the supply chain.
“Offshore wind will be a key enabler of the energy transition, reducing reliance on fossil fuels and diversifying and enhancing security of supply and energy independence,” says PWC, noting offshore wind could directly contribute to a 26% reduction in New Zealand’s energy emissions by 2050.
PWC describes offshore wind as a key to unlocking the hydrogen economy to decarbonise hard-to-abate sectors like heavy transport and steel production. Sustainable fuels and feedstocks produced from hydrogen can be utilised for aviation, maritime and road fuels displacing traditional hydrocarbon-derived fuels.
Some of the key benefits of offshore wind identified in the report are its relatively high-capacity factors – that is consistent generation – and its ability to provide the most power when New Zealand needs it most, in winter.
Due to New Zealand’s large exclusive economic zone, which is 15 times the size of the country’s landmass, offshore wind provides greater flexibility to choose project sites which minimise effects and are close to electricity demand. It also provides greater ability to locate projects away from communities to mitigate potential visual and sound effects. PWC also found the development of offshore wind projects is expected to lead to new research into New Zealand’s marine species, filling important gaps in its current information about the existing environment.
BlueFloat Energy & Elemental Group partnerships director Justine Gilliland says the study “makes it very clear New Zealand needs an offshore wind energy industry.
“Not only do we have one of the most abundant resources to be found anywhere in the world, but a skilled and knowledgeable workforce with the talent to make this happen,” she says.
“The climate challenge means we need new renewable energy, and we need it at a scale and pace that can help us meet growing demands for electrification and for green fuels.
“As many countries introduce sustainability tariffs, offshore wind can help us stay competitive on the world stage by ensuring our products are created and transported to the world sustainably from renewable sources.
“Overseas experience shows offshore wind developments result in many positive impacts for communities, including local jobs and investment, while concerns are often more perceived than real.”
Te Puna Umanga Venture Taranaki chief executive Kelvin Wright says, “For several years, we have facilitated the discussion around offshore wind energy and what it could mean for Aotearoa and the Taranaki region.
“This milestone study highlights the significance of the opportunity, acknowledges some of the challenges involved, and ultimately helps to advance our understanding of this new industry, and what it could mean for our communities, if realised. With this study on the table, we look forward to continuing the discussion with our local community, Iwi and key industry players.”
BusinessNZ Energy Council executive director Tina Schirr says the impact study is a critical step in understanding the multifaceted implications of offshore wind energy development in New Zealand. “It offers a clear-eyed assessment of both the challenges and opportunities ahead,” she says. “It underscores the importance of careful planning and stakeholder engagement to navigate the complexities of industry development. As we consider the future of our energy sector, this report serves as a valuable tool for decision-makers, offering insights to guide sustainable and inclusive growth.”
Clarus (formerly First Gas) general manager future fuels James Irvine says the company is excited to see the huge potential of offshore wind and the wide-ranging benefits explained in this study.
Mr Irvine says the production of green hydrogen from offshore wind, transported via the company’s pipeline network, presents opportunities to affordably increase New Zealand’s energy security and decarbonise the economy while unlocking new export opportunities in high-value green products.
Port Taranaki chief executive Simon Craddock says the study highlights and confirms the essential and strategic role ports and port infrastructure play in the development of offshore wind, for the marshalling and assembly of wind turbines and structures, and as a base for installation and maintenance work.
“As the only deepwater port on the west coast of New Zealand, and the port closest to many of the proposed developments, Port Taranaki has a key role to play in both the construction and servicing phases,” says Mr Craddock. “For this to occur, port upgrades are necessary, and the timing of upgrades is critical to ensure offshore wind construction is not delayed.”
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