Business matchmaking event bridges cooperation between China, New Zealand in solar energy

Working in the solar industry for seven years, businessman Anindiya Rai has been looking for potential customers in both China and New Zealand at a business matchmaking event here.

The event, organized by the China Construction Bank Corporation (CCB) New Zealand Branch on Tuesday, was aimed to promote bilateral business opportunities in the solar energy sector.

New Zealand is committed to net-zero emissions of all greenhouse gases other than biogenic methane by 2050, in an addition to a 24 to 47 percent reduction below 2017 biogenic methane emissions, by 2050, including a 10 percent reduction below 2017 biogenic methane emissions by 2030.

In June last year, the New Zealand government made changes to the country's Emissions Trading Scheme with a broader range of compliance tools, including net emissions cap, new penalties, phasing out industrial allocations and units auction.

These strategic and operational reforms could bring substantial business opportunities for Rai and his company Lucid Consulting in New Zealand.

"In New Zealand, we have ample solar resources. I see great opportunities in the solar energy sector. Unlike other green energy that requires huge one-off infrastructure investment, solar energy is accessible at every level. A household can have their own solar energy," said Rai.

Rai was excited to see a group of targeting customers and suppliers and many service companies turning out in the event. To him, this means big wins for the New Zealand solar energy sector.

"Matchmaking event like this brings the supply and demand together. Customers may directly access solar energy suppliers like Huawei. And there is the solar finance provided by the bank, which solves the funding issue for solar projects," he said.

On Tuesday, another New Zealand solar energy company, Forward Solar, signed a contract worth 20 million New Zealand dollars online virtually with a Chinese company in the matchmaking event.

Hu Bofei, Deputy General Manager, International Business Department of China Construction Bank, said, "The matchmaking and contracts signing is what we have initiated to help both New Zealand and Chinese solar companies with effective and boundless financial and platform supporting services."

Huang Yuefeng, the economic and commercial counsellor from the Chinese Embassy to New Zealand, was also pleased to witness the matchmaking and contract signing.

"New Zealand and China have shown great resilience in bilateral trade through the COVID-19 pandemic. In the post-COVID-19 recovery, our two countries are exploring new ways and channels to promote bilateral cooperation. Green energy, climate change and environmental protection are areas where both countries could explore innovative cooperation," said Huang.

Huang was looking forward to the event creating a more comprehensive platform and further opportunities for future bilateral cooperation in the solar energy sector. (1 New Zealand dollar equals 0.7135 U.S. dollar)