SolarZero workers installing panels Photo: Supplied/SolarZero
NZ Green Investment Finance chairperson Cecilia Tarrant is stepping down.
The "green investment bank" has faced questions about its management of its $145m loan to SolarZero, which owner BlackRock put into liquidation late last month.
Tarrant said she would step down on 20 December, "respecting the ministers' desire for new leadership while reflecting proudly on her six-year tenure".
"I am immensely proud of the progress achieved in more than 30 transactions, showcasing the market potential of low-emissions investments across diverse sectors," she said.
"I leave the role with confidence in the foundation we've built and wish the organisation every success in driving New Zealand's critical journey toward decarbonisation."
She told Nine to Noon last week that NZGIF first heard of potential trouble at SolarZero in early November.
But she said it was only two weeks later that it said it was liquidating the company and NZGIF had not had time to assess the options.
"We required time and information to assess those proposals and make the right decision with taxpayer money."
She said NZGIF's priority was to look after taxpayers' investments and make sure SolarZero customers were also looked after.
Tarrant said there had been no reason to suspect there was a problem with SolarZero before Blackrock made its approach.
Finance Minister Nicola Willis summoned NZGIF to a meeting last Thursday to discuss the loan and has said she expected it to be publicly accountable. She told media she still had questions about the due diligence involved, the monitoring of the investment and the structure of the lending.
