New Zealand’s government has partnered with U.S. investment firm BlackRock to supercharge its efforts to become one of the first countries in the world to achieve a 100% renewable electricity supply.
The government and BlackRock have announced a 2 billion New Zealand dollar ($1.2 billion) fund that will provide access to greater pools of capital for New Zealand businesses, to accelerate investment in green energy such as solar, wind, green hydrogen and battery storage.
"This is a first-of-its-kind fund in the country that demonstrates the huge economic potential of New Zealand being a climate leader,” New Zealand Prime Minister Chris Hipkins said Tuesday in Auckland. "This fund is a massive opportunity for New Zealand innovators to develop and grow companies.”