New Zealand rolls out plans to go fully renewable in electricity

New Zealand rolls out plans to go fully renewable in electricity

BlackRock commits $2B renewables infrastructure fund to make New Zealand world’s 1st country using 100% renewable electricity

By Anadolu staff

ISTANBUL (AA) - New Zealand announced on Tuesday that it plans to generate 100% of its electricity from renewable sources.

"We firmly believe New Zealand could be the first country in the world to achieve the 100% target, and this initiative is one step closer," Prime Minister Chris Hipkins told reporters in Auckland.

A new $2 billion fund committed by US-based asset manager BlackRock will help fund the transition.

Hipkins said the government is working with BlackRock to launch the “first-of-its-kind” climate infrastructure fund.

“Our actions are bending the curve on emissions, with climate pollution falling through 2020, 2021, and 2022 with the December 2022 quarter delivering the lowest figure in at least nine years,” he said.

New Zealand’s National Energy Strategy has also set a 50% renewables target for total final energy consumption, which includes electricity as well as gas and liquid-solid fuels, by 2035.

According to the Business Innovation and Employment Ministry, about 28% of the energy consumed in New Zealand was from renewable sources in 2021.

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