Abu Dhabi Future Energy Company – Masdar P.J.S.C., a global clean energy leader, will explore up to USD 560 million in investment in New Zealand renewable energy under a Memorandum of Understanding signed with Invest New Zealand, announced on Wednesday, 28 October 2026.

Company Eyes New Zealand Solar, Wind, and Storage projects

The MoU sets out how the two organisations will identify and progress projects in solar, wind and battery energy storage, including co-investment with New Zealand companies and Māori businesses. Renewable energy is one of Invest New Zealand's priority sectors.

The agreement builds on the New Zealand-UAE Comprehensive Economic Partnership Agreement (CEPA) and the investment agreement signed alongside it. Both include specific commitments to encourage investment in decarbonisation and clean technology.

Steering Committee and Project Team to be Established

Following the signing, Masdar and Invest New Zealand will set up a steering committee and a project team to agree on a work programme and a pipeline of opportunities. Invest New Zealand Chief Executive Robert Wall said the immediate focus is practical.

"This agreement demonstrates Invest New Zealand's role in bringing international capital and capability together with high-quality New Zealand opportunities," Wall said.

"Renewable energy is a priority investment sector, with significant potential to support productivity and economic growth. Our focus now is practical: working with Masdar and New Zealand partners to identify a prioritised set of renewable energy opportunities and help them progress towards commercial due diligence."

Invest New Zealand is the single, coordinating agency for international institutional and strategic investors seeking to increase investment into New Zealand, supporting the Government's objectives to lift productivity and deliver sustainable, long-term economic growth. Its purpose is to materially increase the flow of international capital into New Zealand by targeting sectors with the greatest growth and productivity potential.

The agency systematically engages with international investors to understand their investment priorities and the regulatory, policy and market constraints that inhibit investment in New Zealand, and promotes the country as an investment destination, particularly in its priority sectors. It also advises Ministers, companies and domestic investors on the availability of international capital and steps necessary to improve New Zealand's attractiveness for investment.

MoU Turns Trade Agreement into Something Practical

Trade and Investment Minister Todd McClay welcomed the agreement, framing it as a direct outcome of the bilateral trade deal with the United Arab Emirates.

"This MoU is exactly the kind of investment we wanted to see come out of our trade agreement with the UAE," McClay said. "The CEPA was built to encourage investment between our two countries, including in clean technologies. This MoU turns that into something practical. It connects Masdar's capital and know-how with renewable energy projects here in New Zealand.

"Investment on this scale helps build the energy infrastructure we need to grow the economy and reach our goal of doubling renewable electricity generation by 2040."

Masdar Brings Two Decades of Global Project Experience

Masdar, established in 2006, is leading the global energy transformation by investing in, developing and operating renewable energy projects that deliver commercial returns while providing reliable, affordable clean power worldwide.

The company is jointly owned by TAQA, ADNOC and Mubadala and is driving the scale-up of renewables worldwide, targeting a portfolio capacity of 100 GW by 2030.

The company's global clean energy portfolio stands at more than 65 gigawatts (GW) of renewable energy. According to the media release, Masdar has over two decades of experience in renewables with a diverse, de-risked portfolio spanning markets described as the world's fastest-growing energy markets.

The release describes the portfolio as covering continents in one section and four continents in another; the About Invest New Zealand portion of the release states the portfolio spans six continents, while the body of the release refers to four continents.

Masdar Chief Executive Mohamed Jameel Al Ramahi said New Zealand has a significant opportunity to harness its renewable energy resources.

"New Zealand has a significant opportunity to harness its renewable energy resources to strengthen energy security, support economic growth and power future industries," Al Ramahi said.

"At Masdar, we believe long-term partnerships are fundamental to unlocking this potential. We look forward to working with Invest New Zealand and local partners, combining their market knowledge with our two decades of global expertise in developing, investing in and operating large-scale clean energy projects. Together, we aim to unlock new opportunities that deliver lasting value for New Zealand and its people."

Next Steps for the Pipeline

With the MoU signed, the immediate work centres on the steering committee and project team identifying a prioritised set of renewable energy opportunities across solar, wind and battery energy storage, and moving them towards commercial due diligence. The co-investment model contemplated in the agreement extends to partnerships with New Zealand companies and Māori businesses.

The agreement arrives against the backdrop of the Government's stated goal of doubling renewable electricity generation by 2040, which McClay cited as the kind of objective that investment on this scale would help support.

The CEPA and the investment agreement signed alongside it contain specific commitments to encourage investment in decarbonisation and clean technology between the two countries.

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