The law normally requires people who offer financial products to give information to investors before they invest. This requires those offering financial products to have disclosed information that is important for investors to make an informed decision. The usual rules do not apply to this offer if you are a person who comes within Schedule1, clause 3(2)(a)-(c) or 3(3)(a)-(b)(ii) (inclusive) of the Financial Markets Conduct Act 2013. This includes where the amount invested upfront by the investor (plus any other investments the Investor has already made in the financial products) is $750,000 or more. If you fall within Schedule 1, clause 3 of the FMCA as a result of this exclusion, you may not receive a complete and balanced set of information. You will also have fewer other legal protections for this investment. Investments of this kind are not suitable for retail investors. Ask questions, read all documents carefully, and seek independent financial advice before committing yourself.
The Opportunity
New Zealand urgently needs additional power generation capacity to meet growing electricity demand, replace retiring thermal power plants, and manage ‘dry year’ risks. Solar is the fastest-to-build and most cost-effective source of new power generation and it complements New Zealand’s hydropower-dominated electricity system. Hydro provides effective energy storage and solar generation generally matches higher day-time electricity demand. Despite these advantages, solar accounted for only 2% of total New Zealand generation in 2025 (MBIE, Electricity Statistics Q4 2025). With New Zealand targeting Net Zero greenhouse gas emissions by 2050, there is space for solar to rapidly develop to aid in decarbonising the energy system.
The Rānui Sunshine Fund (RSF)
The RSF is a New Zealand-domiciled investment fund investing exclusively in operating and ready to build solar projects in New Zealand, developed and managed by Rānui Generation Limited (RānuiGen). RSF is approved by Invest New Zealand as an acceptable managed fund (growth category) under New Zealand’s Active Investor Plus (AIP) programme.
RSF invests alongside SC Renewable Energy Plus Fund 1, an established Singapore-domiciled renewable energy fund managed by SC Oscar Fund Management, a licensed fund manager in Singapore and an affiliate of SC Capital Partners and CapitaLand Investment.
The current portfolio consists of a 31MWp operating solar farm in Kaitaia, Far North and a ready to build solar project in Kaponga, Taranaki, with commercial operation anticipated in 2027. Two further sites in Stratford, Taranki and Ongaonga, Hawkes Bay are under development. RānuiGen aims to grow the portfolio to 350MW and anticipates divesting the entire solar portfolio by end 2031.
Key terms:
- Investment: Equity or loan in Rānui Energy LP* owner of operating and ready-to-build solar projects
- Minimum commitment: NZD 1,000,000
- Target size: NZD 100,000,000
- Target return: 13 – 15% p.a. (before fees)
- Fund offer period: 20 January 2026 to 31 December 2027
- Term: 7 years from final closing
- Manager: RānuiGen, 100% owner of General Partner
- Distributions: Annual
*A loan is permitted in the investment policy and would enable the Manager to offer early redemption of capital to Fund investors who elect to have an early redemption after the end of year 3
Investments in the Rānui Sunshine Fund are available only to Eligible and Wholesale Investors under the Financial Markets Conduct Act 2013.
Please register your interest below to learn more about the Rānui Sunshine Fund and to receive a copy of the Summary Information Memorandum.
