Hon Dr MEGAN WOODS (Minister of Energy and Resources): In November last year, I announced the Government would commence work on the regulatory settings needed to enable the development of offshore wind generation in New Zealand. The Government recognises New Zealand's significant potential for offshore wind generation presents an exciting opportunity to support our transition to net zero carbon by 2050, stimulate regional economic activity, create jobs, and provide renewable electricity. We will be working with stakeholders, including iwi, Transpower, the New Zealand Wind Energy Association, Government agencies, environmental advocacy groups, and others, on the settings to enable offshore wind generation. The work is already providing certainty to investors, with a number of major future investments in offshore wind on the horizon.