Te Pāti Māori announces $1 billion fund for 'energy sovereignty'

Te Pāti Māori wants to increase Māori and community ownership of new renewable energy assets, establishing a $1 billion Energy Sovereignty Fund in the process.

The party's 'energy sovereignty' election policy would set up a fund to administer grants, concessional finance, guarantees, equity investment, and co-investment so hapū, iwi, marae, Māori landowners, and communities can acquire permanent stakes in energy assets.

The fund would also invest in energy resilience projects, community batteries, Māori energy businesses, and workforce development, aiming to reduce household energy costs and increase resilience.

Co-leader Rawiri Waititi said replacing fossil fuels with renewables, but leaving the ownership and profits in the same hands would transform technology, but not the system.

"Every party is talking about generating more electricity. We're asking the question they keep avoiding: who will own it?" he said.