GeoExchange NZ specialises in geothermal heating and cooling solutions that support industrial and commercial decarbonisation. The company provides design, advisory and financing support for geothermal and thermal energy infrastructure projects.
The team brings more than 70 years’ combined experience delivering geothermal heating and cooling systems across New Zealand and international markets, covering residential, public sector, industrial and district energy projects. GeoExchange NZ also draws on over 25 years of international energy finance experience across geothermal, biomass, wind, solar and gas infrastructure investments.
Design-Build-Operate-Own (D.B.O.O.) model
GeoExchange NZ’s preferred delivery model is a Design-Build-Operate-Own (D.B.O.O.) structure, where the company provides ongoing support throughout the life of the project, including operations, maintenance and financing support.
Under this model, GeoExchange NZ’s ESCO finances geothermal heating and cooling systems designed and installed by GeoExchange NZ. Contracts are typically structured over 10–20 years to reflect the long operating life of geothermal assets. Pricing generally includes a fixed charge covering capital recovery and asset depreciation, alongside a variable charge covering operating costs such as electricity use and maintenance.
Areas of expertise
Energy transition
GeoExchange NZ focuses on integrating demand-side technologies with renewable energy supply technologies through energy efficiency, thermal and electrical storage, and smart system management approaches such as time-of-use optimisation.
Geothermal heating and cooling
The company specialises in geothermal heating and cooling systems designed to balance energy performance with long-term sustainability and minimal environmental impact. Expertise spans hydrogeology and mechanical engineering, enabling systems to be tailored to specific ground conditions and operational requirements at both building and district scale.
Energy finance
The finance team has extensive experience in UK and European energy infrastructure markets, including financing large-scale heating and cooling systems. GeoExchange NZ indicated that this expertise and access to international capital will support delivery of projects in the New Zealand market, while preferring local capital sources where appropriate.
Project capability
Project size: NZ$200,000 to NZ$250 million
GeoExchange NZ advised experience on projects ranging from 100kWth to 30MWth, with the broader team having experience across projects representing more than 1GW of heating and cooling capacity.
Delivery approach: Design, installation, operation and financing of geothermal heating and cooling systems under long-term ESCO-style arrangements.
Project process
GeoExchange NZ advised that its ESCO financing model applies specifically to heating and cooling systems designed and installed by GeoExchange NZ.
Development, construction and operational risks are managed through detailed design processes, conventional project contracting structures and long-term operational management arrangements. Once operational, GeoExchange NZ acts as the ESCO contractor delivering thermal energy services over the contract term.
Funding and ownership
Repayment and risk
Contracts are generally structured over 10–20 years. Pricing typically includes:
- A fixed charge covering capital recovery and asset depreciation; and
- A variable charge covering operating costs, including electricity and operations and maintenance.
Development risk is managed through rigorous design processes, while construction risk is managed under conventional project contracts. Electricity costs are generally paid directly by the customer as part of site electricity supply arrangements.
GeoExchange NZ indicated that co-funding is optional and may reduce service charges where desired. Contributions towards development costs prior to final investment decision (FID) are to be discussed on a project-by-project basis. Financing is managed in-house.
Ownership
During the agreement: Equipment is generally owned by the provider under a hire, lease or service arrangement.
At the end of the agreement: The customer may purchase the assets at an agreed residual or buy-out value at the conclusion of the contract term.
All information above reflects details supplied by GeoExchange NZ in its February 2026 EECA Service Provider Bio Form response to EECA.