Politics 🗳️ NZ Politics

[MrFrankWhite]

Chair of Government’s green investment fund resigns in wake of SolarZero collapse​

Jenna Lynch
December 13, 2024 •09:33am
Share

Cecilia Tarrant, the chair of NZ Green Investment Finance, outside Parliament.Chino Barrett-Lovie / STUFF

The chair of NZ Green Investment Finance (NZGIF) has resigned in the wake of the collapse of solar power provider SolarZero.
The company, which owns about a third of New Zealand’s solar installations, announced the liquidation on its Facebook page in late November, citing “unsustainable operating losses and liquidity constraints”.
Ministers had been seeking urgent advice and explanations on the implications of SolarZero having drawn down about $115 million of the $145m in loans NZGIF had committed by the time the company went into liquidation.
Late on Thursday, Climate Change Minister Simon Watts announced that Tarrant had resigned.

The Government wanted assurances around the due diligence, monitoring and the structuring of the deal, believed to be the fund’s largest investment.
Last week, NZGIF chairwoman Cecilia Tarrant met with Watts and Finance Minister Nicola Willis.


“We met with the minister of finance and the minister of climate change. They expressed their concerns, obviously we are also very concerned. We’ve agreed to keep them updated fully as the situation develops,” Tarrant said as she left the meeting.

Watts said Tarrant would stand down on December 20th.

“I want to acknowledge the work Ms Tarrant has led over the last six years and thank her for her service.
“David Woods, the Deputy Chair of NZGIF, will act as Chair for the coming months while decisions are made on the future direction of NZGIF.
Tarrant sent a statement which hinted ministers had indicated their preference for her to move on saying she was “respecting the Ministers' desire for new leadership while reflecting proudly on her six-year tenure”.
“I am immensely proud of the progress achieved in more than 30 transactions, showcasing the market potential of low-emissions investments across diverse sectors.”
"I leave the role with confidence in the foundation we've built and wish the organisation every success in driving New Zealand’s critical journey toward decarbonisation.”

Stuff

www.stuff.co.nz

As I've said multiple times, there's no profitable renewable funds and very few profitable renewable business without government handouts.

 

[defensivebomb]

They are taking OT to court evidently. Serious money at stake and makes little difference if they can only provide help to 225 kids due to court costs.

Sounds like they have a decent war chest to go to court with! May as well hire a KC

 

[Funky Ed Koosie]

Just reading the Herald. A Northland charitable trust, Stand Tui Maia has had its funding cut. Currently they get $21million pa to help at risk kids working with iwi, schools and so on. They provide their help to 230 kids currently. That works out at $91304 per kid.

Hmmmmm $450,000 per child for a 4 month failed boot camp, yet you clowns say that's money well spent.

 

[MrFrankWhite]

Hmmmmm $450,000 per child for a 4 month failed boot camp, yet you clowns say that's money well spent.

So a cost of 3 years in adult prison.

 

[John Nick]

So a cost of 3 years in adult prison.

Add them both up. Very Very expensive

 

[miket12]

Hmmmmm $450,000 per child for a 4 month failed boot camp, yet you clowns say that's money well spent.

Really, seems that the woke bloggers know more than the officials as to how it would be funded.

Boot camp mentors alone could cost $100,000 per teen

A trial involving 10 boys aged 15-18 starts this month but there has been little detail about what exactly it will look like.

www.rnz.co.nz

 

[Damo]

Really, seems that the woke bloggers know more than the officials as to how it would be funded.

Boot camp mentors alone could cost $100,000 per teen

A trial involving 10 boys aged 15-18 starts this month but there has been little detail about what exactly it will look like.

www.rnz.co.nz

Woke bloggers?

$400k+ is from the governments own documents.

 

[John Nick]

Woke bloggers?

$400k+ is from the governments own documents.

Not Boot Camps anymore .Now known as Croc Camps because of all the holes

 

[dean]

Hmmmmm $450,000 per child for a 4 month failed boot camp, yet you clowns say that's money well spent.

No. That is a clown saying something when not true.
Boot camp for me would be a 3 year survivalist camp where if you didn't contribute you starved to death or died of hyperthermia.

 

[Funky Ed Koosie]

Really, seems that the woke bloggers know more than the officials as to how it would be funded.

Boot camp mentors alone could cost $100,000 per teen

A trial involving 10 boys aged 15-18 starts this month but there has been little detail about what exactly it will look like.

www.rnz.co.nz

So the mentors alone will cost $100k+ haha WTF. Any more retarded gotcha ya wanna post clown.

 

[Noitall]

Stuff

www.stuff.co.nz

Good money to be made at charter schools

 

[miket12]

Woke bloggers?

$400k+ is from the governments own documents.

That's part of the election promises.... the documents used by the RNZ were from this year. The budgeted figure is $5.0 mil PA. $5.0 mill divided by 40 young person is a cost of $125,000 per YP.

 

[miket12]

So the mentors alone will cost $100k+ haha WTF. Any more retarded gotcha ya wanna post clown.

DOH, the bugeted cost is $125,000 per youth..... try again!!!

 

[Damo]

That's part of the election promises.... the documents used by the RNZ were from this year. The budgeted figure is $5.0 mil PA. $5.0 mill divided by 40 young person is a cost of $125,000 per YP.

The pilot of 10 people is going to cost $5.1M as per the article you provided anyway?
That's a lot more than $125,000 per person.

 

[miket12]

The pilot of 10 people is going to cost $5.1M as per the article you provided anyway?
That's a lot more than $125,000 per person.

View attachment 10534

And the pilot is all the initial cost in setting up the program.... it's not the ongoing costs PA. That cost would be spread over 40 YP, not just 10 in the pilot program.

Think of it this way.... the cost of buying the Cook Strait ferries and doing the wharfs was supposed to be $3 billion.... but that's a one of cost.... it wouldn't cost $3 billion per ferry crossing.

 

[Damo]

And the pilot is all the initial cost in setting up the program.... it's not the ongoing costs PA. That cost would be spread over 40 YP, not just 10 in the pilot program.

Yeah sure.
I'm still yet to see the actual figures for the ongoing costs per year though other than the $100k for just the mentors apparently.
And the figures released in their pre election document.

 

[wizard of Tauranga]

Should we rename this ‘sorting maths misinformation’ thread

 

[miket12]

Yeah sure.
I'm still yet to see the actual figures for the ongoing costs per year though other than the $100k for just the mentors apparently.
And the figures released in their pre election document.

Sorry, I was wrong when I said the operational budget was $5 mill PA, the actual Budget figures was $2,000,000 capital costs, $5,300,000 for the pilot and then and operational budget PA of $7,500,000 ($30,000,000 over four years). Divide that $7,500,000 by 40 YP each year and that's an amount of $187,500.... but still significantly less than the $450,000 figure that keeps being used.

 

[Damo]

Sorry, I was wrong when I said the operational budget was $5 mill PA, the actual Budget figures was $2,000,000 capital costs, $5,300,000 for the pilot and then and operational budget PA of $7,500,000 ($30,000,000 over four years). Divide that $7,500,000 by 40 YP each year and that's an amount of $187,500.... but still significantly less than the $450,000 figure that keeps being used.

Taken from: https://www.orangatamariki.govt.nz/...ender-and-Military-Style-Academy-Redacted.pdf

Now I am even more confused

 

[miket12]

View attachment 10535
Taken from: https://www.orangatamariki.govt.nz/...ender-and-Military-Style-Academy-Redacted.pdf

Now I am even more confused

Mate, so am I.... mine came from the Herald's report on the budget. I can guarantee one thing..... there's no chance in hell that any of the 2024 Buget figures will end up being right.