Genesis Approves Investment for Edgecumbe Solar Farm

Monday 24th November 2025

Genesis has reached Final Investment Decision (FID) for the construction of the Edgecumbe Solar Farm in the Bay of Plenty, marking another significant milestone in the delivery of Genesis’ Gen35 strategy and further advancing renewable generation development in New Zealand.

The Edgecumbe Solar Farm will have a capacity of 136 MWp, generating approximately 238 GWh annually, enough to power around 29,800 homes. Construction is expected to commence shortly, with first generation targeted for the second half of FY27.

Main contracts for the project have been executed with key delivery partners — Horizon Networks has been appointed for the design and construction of the overhead line connecting the site to the grid, and METLEN, through its Renewables & Energy Transition Platform Sector, for the engineering, procurement and construction (EPC) of the solar farm.

Key Metrics:

• Solar Capacity: 136 MWp

• Annual Generation: ~238 GWh

• Homes Powered: ~29,800

• Estimated Project Cost: ~NZ$236 million

• Location: Edgecumbe, Bay of Plenty

• Consented: Yes

• Grid Connection: Yes

• Final Investment Decision (FID): 24th November 2025

• First Generation: Late-FY27

Financing and capital recycling

The Edgecumbe project will initially be funded on balance sheet. Following commissioning, Genesis remains open to opportunities for capital recycling at a time that best adds value for shareholders. This aligns with the three approaches to capital management already announced: by investing directly from its own balance sheet, using third-party capital with joint ventures and PPA’s to indirectly leverage third-party capital. These capital management options enable Genesis to deploy capital efficiently while maintaining our BBB+ credit rating and financial flexibility for future Gen35 investments.

GEN35 CURRENT ADVANCED STAGE RENEWABLE PIPELINE

(Refer to the attachment for an appropriate table)

Genesis Chief Operating Officer – Tracey Hickman

“Delivery of the Gen35 strategy is progressing well. Reaching FID on the Edgecumbe project, following hot on the heels of our Rangiriri Solar announcement, represents a major step towards Genesis’ solar objective of building up to 500MWp of solar generation. The project will enhance the value of our three hydro generation sites and battery storage investments, providing flexible, renewable energy to meet growing demand. It will also further displace gas generation, in particular over summer months, in support of New Zealand’s transition to a low-carbon future.”

ENDS

Genesis reaches Final Investment Decision (FID) for Edgecumbe Solar Farm.

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