Genesis Energy's (ASX:GNE, NZE:GNE) application to continue operating and maintaining the Tekapo power scheme in New Zealand was the first renewable energy project approved under the country's Fast-track Approvals Act, according to a statement from the New Zealand government on Monday.

The power scheme includes the Tekapo A and B power stations and substations, as well as a canal system.

Genesis applied for fast-track approval on April 11, New Zealand's Infrastructure Minister Chris Bishop said.

Its shares rose almost 1% at the close of the New Zealand bourse.