Te Utanganui Welcomes Major Step Forward for Green Energy and Data Innovation in Manawatū with Pacific Channel’s Fund V
Pivotal Announcement Signals New Era of Investment, Sustainability, and Opportunity for the Region
Te Utanganui – the Central New Zealand Distribution Hub – is excited to share news of a major boost for Manawatū and New Zealand’s clean energy future. Pacific Channel, a leading venture capital company, has launched Fund V, a new Renewable Energy Development Fund. This fund will help support the development of large-scale renewable energy and storage projects through the Kākāriki initiative, in collaboration with both local and international partners. This marks a significant step forward for sustainable growth and innovation in our region.
This milestone, which sees Pacific Channel Fund V support a proven consortium of local and global partners, will accelerate the region’s emergence as a leader in sustainable energy and data-driven industry.
New Zealand’s electricity system faces rising demand as we move toward cleaner energy sources, such as the electrification of transport, industry, and buildings. The Kākāriki initiative is tackling this challenge head-on with a portfolio of seven advanced wind, solar, and storage projects, strategically located near industrial centres and future high-demand users. Another 18 projects are also in the pipeline, ensuring continued growth for years to come.
“As one of New Zealand’s main distribution and logistics hubs, Manawatū attracted the interest of Energy Estate and its partners in mid-2024. Their vision for green energy and a hyperdata centre fits perfectly with Te Utanganui’s long-term strategy. Today’s announcement to seek funding for Kākāriki, and the involvement of Pacific Channel Energy Fund, is a big step forward - not just for Manawatū, but for the future of green energy and innovation across New Zealand.”
Shearman added, “This investment will cement Manawatū’s position as an emerging hub for the green energy sector, bringing new jobs and prosperity to our community. We are proud to see our region leading the way in nationally significant projects.”
The Kākāriki initiative, supported by Pacific Channel’s Fund V, aims to unlock large-scale wind, solar, and energy storage projects. With seven projects already moving forward and up to 18 more planned, Manawatū stands out as a key location for decarbonisation, new energy-intensive industries, and high-value job creation.
Te Utanganui and CEDA will continue to support the growth of renewable energy in Aotearoa, working closely with partners and stakeholders to realise the promise of this exciting new chapter for our region and our country, and to leverage the ongoing growth and development of Te Utanganui as central New Zealand's leading logistics hub.
KEY INFORMATION / FOOT NOTES
Formed as a JV, Kākāriki is a renewable energy platform formed by the following local and global companies with a successful track record of developing large renewable energy projects - Energy Estate (Australia), Elemental Group (New Zealand), Regener8 Power (United Kingdom) and Tāmata Hauhā (New Zealand). Pacific Channel Partner Richard Pinfold said Fund V offers eligible investors a unique opportunity to back nationally significant projects at a critical moment.
“Fund V will provide the seed capital to get these seven well-advanced projects investment ready, with plans to invest in up to 18 more as part of the broader pipeline. This unlocks the large-scale capital required to deliver long-term economic, environmental, and community benefits.” Pinfold says.
The scale of the portfolio is designed to help catalyse a sixfold increase in renewable energy generation for New Zealand. “Generating 6 times current levels will not only secure affordable energy for homes and businesses, it also creates opportunities to electrify transport, industry and buildings, grow exports through surplus embodied energy products and attract new energy-intensive industries.” adds Pinfold.
Phase One of the Kākāriki portfolio includes 4 GW of wind and solar generation and 2.3 GW of storage capacity, with land access, planning, grid connection activities, and partnerships with Māori already underway. The total pipeline exceeds 10 GW across both islands, providing geographic and technological diversity.
Pacific Channel has a 20-year track record of backing high-impact ventures, with 11 successful exits and a history of generating strong returns for investors. Fund V continues this approach, combining financial discipline with climate leadership and a commitment to inclusive growth.
Pacific Channel Fund V is an Invest New Zealand AIP approved managed fund.
Further information about Kākāriki can be found via this link: www.kakarikirenewables.com