New Zealand Builds Green Energy Plant Partly Paid For In Bitcoin

Earlier this Autumn, TYMLEZ set out to equip the town of Tyalgum in New South Wales with green energy powered by blockchain. However, it turns out they aren’t the only blockchain-conscious fans of green energy in the area.

New Zealand’s Largest Solar Power Plant

Kea Energy has started working on the construction of the largest solar power plant in New Zealand. Construction has already started on the 2.5 MW future power plant in Marlborough.  The new power plant will take advantage of the sunny area to produce about 4500 MW of electricity – enough to power around 550 households all year-’round.

In order to build the promising new power plant, Kea Energy has paired up with solar panel manufacturer Yingli Solar Australia.

Open to environmentally-conscious energy solutions and innovative payment methods alive, Yingli Solar Australia has accepted part of the payment for their solar panels in Bitcoin.

Tim Feng – the managing director of Yingli Solar Australia – stated that although New Zealand already derives 80% of its energy from environmentally-friendly energy, he and his company is glad to be able to help New Zealand reach their target of 90% green energy production by 2025.

“Economic savings for solar systems are highly predictable and proven by the financial modeling. New Zealand has 80 percent of its electricity supplied by clean energy. However, we will need to work closely with our partners to achieve the government’s target of 90 percent of electricity to be sourced from renewables by 2025.”

Kea Energy also stated their pride to be the first company in New Zealand to install a large-scale solar farm – as well as their excitement to explore innovative payment solutions with equally innovative partners.

“We are proud to be the first company in New Zealand to install a multi-MW solar farm. Our team will be executing the entire project including design, financial procurement, and installation as well as managing the grid connection process. It’s good to work with a company as innovative as Yingli Solar who is willing to look at payment transactions such as Bitcoin.”  

The electricity produced by the solar farm will help power the local grid, further reducing the environmental impact of energy consumption in the area.