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Floating photovoltaic (FPV) systems have generated much interest in the literature, due to the potential synergies with existing hydropower reservoirs. This is of particular relevance to Aotearoa New Zealand, where the national grid's heavy reliance on hydro resources has left the country prone to energy shortages during dry years. This paper investigates the potential implications of a 1-gigawatt peak fleet of distributed FPV systems on seven hydro schemes around the country. The results show that an FPV fleet in Aotearoa New Zealand could provide additional electricity generation when the controlled hydropower storage is low. A larger, wider rollout would allow for the reservoirs to replenish after the country's unique winter peak in electricity demand. [ABSTRACT FROM AUTHOR]