SolarZero workers installing panels Photo: Supplied/SolarZero
The crown-owned Green Investment Fund says it's "extremely frustrated" by the sudden withdrawal of support for SolarZero by its owner, Blackrock, which came as a surprise.
SolarZero was placed into liquidation last week when its major investor Blackrock owned GRP111 pulled the pin, blaming "unsustainable operating losses and liquidity constraints".
The liquidation has left 15 and a half thousand customers here in limbo, as well as hundreds of employees out of pocket, and contractors with no certainty.
The Green Investment Fund loaned $115 million to install solar panels and batteries at customers' homes - that equipment is owned by a trust structure, and therefore not technically caught up in the liquidation.
Green Investment Fund board chair Cecelia Tarrant met the Finance Minister Nicola Willis yesterday to answer questions about what has happened.
She says they were blindsided by the Blackrock decision, which has severely impacted staff, suppliers, contractors and partners.
