SunScout New Zealand secures landowner agreement for US$1.49 million solar and battery project
SNSC•SunScout New Zealand agreed with landowners to advance a proposed NZD 2.64 million (US$1.49 million) project combining 1.5 MWp of solar generation and 2 MWh of battery storage. Development remains subject to feasibility results, approvals, financing and definitive agreements.
1. Proposed project
SunScout's wholly owned subsidiary SunScout New Zealand agreed with landowners to advance the Te Akau solar and battery storage project. The proposed NZD 2.64 million (US$1.49 million) project would combine 1.5 MWp of solar generation with 2 MWh of battery storage.
2. Ownership and funding
Ownership would be split equally with the landowners. Financing targets 70% project debt, with SunScout New Zealand providing the remaining 30% as equity; the subsidiary would receive 60% of distributable cash until it recovers its equity contribution, then share distributions equally with the landowners. Development remains subject to satisfactory feasibility results, regulatory and grid-connection approvals, financing and definitive agreements.
