A new Government bill, the “Offshore Renewable Energy Bill” (ORE Bill), is currently before the New Zealand Parliament. The bill has passed its second reading and is expected to become law in 2026. The bill proposes a framework for selecting and managing offshore renewable energy developments, which include a two-stage permitting regime (feasibility permits and commercial permits), consultation requirements, including specific requirements for consultation with M?ori groups, obligations regarding decommissioning of ORE infra structure, provisions for safety zones around ORE infrastructure and provisions for administration, monitoring, and enforcement. Although motivated by offshore wind, the bill specifically mentions waves, tides and ocean currents as possible renewable energy resources.
MARKET INCENTIVES
The new ORE Bill was mostly lobbied for by offshore wind energy developers, and this provides an opportunity for synergy between offshore wind and ocean energy. At the same time, a Fast Track Approval Bill that passed into law in late 2024 has had a negative impact on offshore wind investment in New Zealand.
The growing aquafarming in New Zealand, the increasing energy demand and the existence of isolated communities near the shore also provide opportunities for the development of ocean energy.
PUBLIC FUNDING PROGRAMMES
A new Applied Doctorates Scheme was established in 2025 and is designed to bridge the gap between groundbreaking scientific research and industry.
In its inaugural round, the Scheme called for research projects that explore the broad theme of energy research that is future-focused, including renewable energy technologies. Azura Wave Power’s “Advancing Offshore Wave-Powered Desalination for Aoetearoa’s Blue Economy” study was approved for a research project in collaboration with the University of Canterbury.
While this has been an excellent development, other public funding programs have had a reduction in budget (the Marsden Fund) or been put on hold for a year (the Endeavour Fund). This is because of a major restructure of the research sector in New Zealand, including the merging or closure of research institutes and a consolidation of funding programmes into a centralised entity Research Funding New Zealand.
The OES is organised under the auspices of the International Energy Agency (IEA) but is functionally and legally autonomous. Views, findings and publications of the OES do not necessarily represent the views or policies of the IEA Secretariat or its individual member countries.
