Genesis Energy has acquired a 65% stake in ChargeNet, the country’s largest public EV charging network.
The $64 million deal is set to accelerate the development of nationwide electric vehicle (EV) charging infrastructure.
Since 2015, ChargeNet has built a network of over 400 fast-charging points across New Zealand, with over 90% of the country's EV owners registered as customers.
With Genesis’ backing, this figure is expected to grow substantially, with the number of charging points projected to double by 2030. This expansion will play a critical role in supporting the government’s ambitious goal of having a national network of 10,000 chargers by the same year.
ChargeNet CEO Danusia Wypych expressed optimism about the partnership, noting that “Genesis as a strategic partner will help us double the pace of installations and provide faster, more reliable charging experiences for all customers.”
Genesis’ investment forms part of its broader Gen35 strategy, which focuses on decarbonising the transport sector and achieving a 30% market share of EV customers by FY28.
The company has committed to major investments in renewable energy, including a $1.1 billion allocation for renewable electricity projects. This includes the installation of a 100MW grid-scale battery at Huntly and the development of up to 500MW of solar capacity.
Stephen England-Hall, Chief Retail Officer at Genesis, highlighted the importance of public EV charging infrastructure in New Zealand’s energy transition: “Decarbonising transport is crucial for New Zealand’s future. This partnership combines ChargeNet’s market leadership with Genesis’ energy expertise, enabling us to shape the future of transport in New Zealand.”
While EVs currently account for just 4% of New Zealand’s light passenger vehicle fleet, this figure is expected to rise to over 25% within the next eight years.
The combined efforts of Genesis and ChargeNet to expand charging infrastructure will be critical in making EV ownership more accessible and convenient, encouraging wider adoption.
By bringing together Genesis' expertise in energy management and ChargeNet’s established network, the two companies are set to play a leading role in the future of sustainable transport in New Zealand.