# MyFarm Solar Fund **Provider:** MyFarm Investments (https://www.myfarm.co.nz) **Source:** https://wholesaleinvestor.co.nz/funds/myfarm-solar-fund **Facts JSON:** https://wholesaleinvestor.co.nz/api/im/myfarm-solar-fund/facts.json > This document is a machine-readable concatenation of 1 extracted document(s) for AI/LLM grounding. The original PDFs are linked in each section. > Wholesale-only — for eligible investors per FMCA Schedule 1. WI does not republish manager performance numbers; verify with the manager. --- ## factsheet **Source PDF:** https://www.myfarm.co.nz/images/assets/d4cf/1/MyFarm%20Solar%20Fund%20Oct%202025.pdf **Pages:** 7 **Extracted via:** pdftotext on 2026-05-20 Investment Brief November 2025 Key Highlights Attractive Target Return and Forecast cash distributions of 10-12% p.a., paid quarterly. depreciation benefits The solar farms’ infrastructure can be depreciated, providing significant tax benefits. With these depreciation benefits, the target distribution of 10–12% p.a. is estimated to be the equivalent of an average 15% p.a. return on a fully taxable investment, from years two to ten, assuming a tax rate of 33%. Existing fund looking to grow With funding secured for its first three solar farms ($NZD13.9 million raised earlier in 2025), the Fund is seeking $NZD9 - 10 million in investor capital to fund Farms 4 and 5. The Fund already has a broad investor base of over 70 investors, over 90% of whom are based in New Zealand. AIP Investor Ready Approved as an Acceptable Managed Fund for AIP visa applicants in the Growth category; funds expected to be invested in line with raise close dates. Favourable agreements The Fund intends to sign long-term Power Purchase supporting investor returns Agreements (expected to be for circa 10 years) with off-takers prior to each farm being built - helping to underpin future investor returns. Each PPA is intended to provide a known price for the electricity generated that adjusts in line with inflation. Investment Longevity Fixed price construction agreements aim to ensure that development costs remain predictable and controlled. Solar panels are projected to have a 30 year lifespan, backed by warranties. The Fund’s business plan includes contingency for maintenance, replacement of key parts. Long-term lease agreements or land acquisition intended for each site. E.G The Fund has secured a 30 year lease (20+5+5) for the first site. It is possible that the aggregated assets could attract institutional investor interest in the long run. Exciting industry; fit-for-market Electricity demand in New Zealand is forecast to increase design significantly by 2050. New generation is required. There is a gap in the market for 5MW solar farms that are efficient from a production, consenting and construction standpoint. Liquidity Options Units can be listed on Syndex (www.syndex.exchange) year round. Offer Overview The MyFarm Solar Fund offers investors the opportunity to earn attractive cash returns from an investment in New Zealand's renewable energy transition. Established in June 2025, the Fund has already made significant progress toward its goal of developing five 5MW solar farms over the next two to three years. With $NZD13.9 million in investor capital already secured to fund the first three farms, the Solar Fund is now looking to raise a further $NZD9-10 million to develop Farms 4 and 5. Electricity generated from the Fund’s solar farms are intended to be sold through long-term Power Purchase Agreements (PPAs), providing a known price for the power produced and the potential for attractive inflation-adjusted returns. The MyFarm Solar Fund will own the farms and is targeting cash distributions of 10%-12% p.a., paid quarterly, with depreciation benefits expected to provide significant tax advantages for investors. Development of the Fund’s first two farms is already underway, with the first farm expected to be in production by end April 2026 and the second farm scheduled for completion in July/August 2026. Why we like the Renewable Energy Advantages of a MyFarm Solar Sector Farm With strong market fundamentals and significant The MyFarm Solar Fund’s farms fill a gap in the government regulatory support, we believe the energy market for mid-scale decentralised energy renewable energy sector can provide attractive production, with design efficiencies that offer a private investment opportunities. range of economic and environmental advantages New Zealand needs additional electricity over other solar farm designs. generation. Electricity demand is expected to From an economic perspective, the 5MW farms increase by up to 80% by 2050.1 Transpower, New do not require a Transpower grid connection and Zealand’s national grid operator, notes that to more easily meet resource consent requirements, get reliable supply that can meet this increased meaning that progress is fast: moving from demand, the country needs more renewable obtaining a land option agreement to switching energy projects to be commissioned and in the power on can be achieved within a year. More production.2 Transpower predicts that, based on typical solar installations can take years to be current and forecast production levels, electricity consented and receive approval for a Transpower outages could begin as early as 2026 and energy connection, take longer to construct and are more shortfalls could persist until 2034. likely to face input constraints at times of peak Solar energy can help to meet this increased supply. The smaller sites that the Fund plans to use demand due to its low Levelised Cost of Energy also allow flexibility and can target regions where (the average cost of producing energy over a energy supply is limited, and pricing is typically facility’s lifetime) and ability to operate efficiently higher – for example at the top of the North and alongside hydro and wind generation. South Islands. The Ministry of Business, Innovation and From an environmental perspective, the specific Employment forecast that meeting the increased design of the Solar Fund’s installations only use 1 demand will require an estimated $NZD 14 billion hectare per MW of production, compared to circa of investment in new generation by 2035.1 Private 2 hectares per MW with a conventional design. The investment that can generate attractive returns is design also uses significantly less steel and almost critical to achieving this goal. no concrete in its manufacture and therefore the materials used have a low carbon footprint. 1 Ministry of Business, Innovation and Employment. (2024). Electricity demand and generation scenarios report. Available from https://www.mbie.govt.nz/assets/electricity-demand-and- generation-scenarios-report-2024.pdf 2 RNZ, (2025) Transpower warns of higher blackout risk in winter 2026. Available at https://www.rnz.co.nz/news/ national/561157/transpower-warns-of-higher-blackout-risk-in- winter-2026 Hiringa Energy Hiringa Energy Limited (Hiringa) is the founding significantly and increase production capacity. To operating partner for the Solar Fund. Hiringa is produce green hydrogen cost-effectively, Hiringa sourcing suitable sites for five solar farms for requires a consistent supply of renewable energy the Fund along with necessary consents and at a cost-effective price. While they can contract agreements and will design and build each site renewable energy from third-party operators, the under a fixed price agreement. Under an existing MyFarm partnership enables Hiringa to procure Heads of Agreement, Hiringa will then maintain renewable energy at a known and competitive each of these sites. Prior to the development cost. of any farm, the Solar Fund intends to secure agreement from Hiringa or another off-take Strong Partnership Agreements partner to purchase the electricity generated for an agreed price under a long-term Power The Fund aims to reduce risk for investors via Purchase Agreement. fixed-price construction agreements and long-term Power Purchase Agreements (PPA). Hiringa is a New Zealand company specialising The proposed long-term Power Purchase in green hydrogen production and distribution, Agreements are contracts for off-take partners operating across Australasia. Based in Taranaki, to pay the Fund an agreed price per MW of Hiringa is majority founder-owned and has backing power produced, which increases with inflation. from significant local and offshore investors, These agreements will lock in the price paid to including those from Southeast Asia, Japan, and the Solar Fund regardless of supply and demand Europe. fluctuations in the wider electricity market. The As part of its mission to decarbonise heavy fixed price development agreements are aimed transport, Hiringa has laid the groundwork at providing confidence to investors as any cost for a hydrogen refuelling network across New overruns in the development stage of the farms Zealand, with four hydrogen refuelling stations would be borne by the project developer (i.e. already completed, and with plans to expand this Hiringa) and not the Fund. Long-Term Vision Offer Details The Fund’s ambition is to continue to build scale in renewable energy, with the guiding principle Capital • Target raise of $NZD of delivering sustainable, attractive returns for Raise Target 9 - 10 million, building its investors. Over time, it may look to diversify on existing investor its partner base, secure PPAs with other off- capital of $NZD13.9 takers and/or explore other technologies such as million. batteries or wind energy. • Minimum investment of $NZD 50,000. Expert Governance Distribution • Commencing at 10.0% Forecast p.a. (on deployed The three Solar Fund Directors hold significant capital), projected to experience in renewable energy, engineering, rise to 12.0% p.a., paid quarterly. project delivery and financial management, and have a range of Directorships on notable New Zealand companies and Non-Governmental Target LVR • Debt to be introduced Organisations (NGOs). on operating assets, up to an LVR of 35% over the long-term. Introducing MyFarm Investments • A portion of debt is planned to be repaid MyFarm is one of New Zealand’s leading specialist in years 4–10 to primary sector investment firms, with circa provide for equipment $NZD 600 million of assets under management. replacement in years 12–15. Since 1990, MyFarm have provided investors with exposure to productive primary sector assets, allowing participation in New Zealand’s vibrant Key Dates • Close date: April 2026. rural economy. • Capital to be called in full at an agreed date (expected to be between April and August 2026). Liquidity • MyFarm Solar Fund will be hosted on the Syndex exchange. “We believe the Solar Fund is an excellent opportunity for investors looking for attractive, long-term returns from sustainable energy production.” - Gordon Love Interested in finding out more? More information about the risks, fees, and factors affecting the returns from this investment can be found in the Information Memorandum. Request your copy of the Information Memorandum by contacting our team. “New Zealand is on a transition path away from fossil fuels, led by our zero CO2 emissions commitments, and enabled by new technology. At the same time, a growing economy requires increased energy demand - Louise Bignall and renewable energy sources, such Head of Client Relations as solar, wind, and geothermal, will +64 21 172 0662 play a significant role.” louiseb@myfarm.co.nz - Andrew Watters (MyFarm CEO) Gordon Love Client Relations Manager +64 27 488 8238 gordonl@myfarm.co.nz Scott Levings Client Relations Manager +64 27 342 8342 scott@myfarm.co.nz This offer is only open to investors who fall within the exclusions applicable to offers made to “wholesale investors” as set out in Schedule 1, clause 3 of the Financial Markets Conduct Act 2013 (FMCA). You can obtain further information on FMCA requirements, and whether you come within the exclusions and their requirements on our website: www. myfarm.co.nz/can-i-invest The offer described in this Information Brief is not suitable for retail investors.