NZ InfraWatch
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ENERGY
Transpower Grid Upgrades — National
Transpower NZ · National / Multi-region
Transpower's 2024–2034 capital programme upgrading the national grid for electrification, renewable energy connection, and reliability. Key projects include the North Island Grid Upgrade, new substations, and HVDC pole 3 refurbishment. Funded via regulated asset base.
A
96/100 · Very likely to proceed
Completion Probability — likelihood this proceeds on roughly its stated timeline.
Funding statusweight 30%
Delivery stageweight 25%
Election / policy riskweight 20%
Govt priority alignmentweight 12%
Project scaleweight 8%
Delivery agencyweight 5%
Key facts
- Region
- National / Multi-region
- Sector
- Energy
- Status
- Under Construction
- Estimated value
- $4.2b
- Indicative completion
- 2034
- Funding status
- Fully Funded
- Lead organisation
- Transpower NZ
- Election risk
- Safe
Election risk assessment
Regulated transmission upgrade — funded through electricity lines charges regardless of government. Bipartisan support.
Government priority alignment
HIGH — Grid upgrades enabling electrification and energy security — aligns with energy priorities.
Chronology
- 2019Transpower Asset Management Plan identifies $4B+ investment need over 10 years
- 2022North Island Grid Upgrade announced — $800M+ project to connect new renewables
- 2023Commerce Commission approves Transpower's investment programme through regulatory reset
- 2024North Island upgrade construction begins; major substation upgrades across NZ
- 2027HVDC pole 3 refurbishment milestone; North Island upgrades complete
- 2034Full 10-year capital programme target