While the US is achieving a new milestone of 25% energy generation from renewable sources, New Zealand is hovering at 82% renewable energy output. Granted they are a much smaller country, but they are looking to scale to 100% by 2030.
Recently the country partnered with the world’s largest institutional investment company, BlackRock from New York to help it meet this goal. In the agreement, BlackRock will offer a $1.2 billion fund to cover the country’s investments in solar, wind, battery storage, and green hydrogen technologies and services. The newly elected President of New Zealand, Prime Minister Chris Hipkins plans to make this to make this investment pay huge dividends:
“This is a game-changer for the clean-tech sector and an example of the pragmatic and practical steps the government’s taking to accelerate climate action while actually growing our economy and creating jobs.” He added that the intellectual property New Zealand companies will discover and create will be financially profitable when sold to other countries around the world.