DLA Piper advises NZ Clean Energy on long-term solar PPA with Mercury

Global law firm DLA Piper advised NZ Clean Energy on a long-term power purchase agreement (PPA) with Mercury for its 118 MW Masterton Solar and Energy Storage Project in the Wairarapa region.

The PPA provides NZ Clean Energy with the revenue certainty required to progress the solar project’s financing and construction. The agreement reflects growing confidence in the role independent renewable developers can play in New Zealand’s energy future. It is also Mercury’s first major grid-scale solar PPA, and Mercury has stated that third-party solar forms part of its ambition to add 3.5 TWh of new renewable generation by 2030.

Once completed, the solar farm is expected to generate approximately 190 GWh of electricity each year, equivalent to the annual demand of around 27,000 homes. The project also provides for future battery storage, while allowing sheep farming to continue on the site.

The Masterton project has resource consent and grid connection arrangements are in place. NZ Clean Energy is finalising the appointment of its engineering, procurement and construction contractor, with construction expected to create more than 100 jobs. Early works have begun, with main site works expected to start in early 2027.

DLA Piper partner Rob Macredie said, “Long-term PPAs provide the revenue certainty needed to unlock project finance and deliver the new renewable generation projects that are critical for our future energy system. We were pleased to advise NZ Clean Energy on its PPA with Mercury supporting a significant new solar farm in Masterton and advancing New Zealand’s renewable generation pipeline.”

The DLA Piper team comprised corporate partner Rob Macredie and finance partner Rachel Brown with support from associate Ruby Medlicott and solicitor Sasha Khurana.

DLA Piper advises clients on all aspects of the energy sector, including renewable generation project development, project M&A, project financing and PPAs in New Zealand and internationally.

Earlier this year, DLA Piper’s New Zealand energy team led the legal drafting of New Zealand’s first publicly available, standardised corporate PPA template, released in March 2026 with BusinessNZ Energy Council and Zeale to reduce transaction costs and support renewable investment.