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After heavy speculation 50-year-old would fill the role left vacant by Janine Southby, she was confirmed as the new coach today.
The move comes three years after Taurua controversially failed to make the shortlist for the job.
She then moved to the Southern Steel and helped the side to top the ANZ Championship table in 2016, before falling over in the playoffs.
Since then she has steered the Sunshine Coast Lightning to back-to-back titles in Australia's Super Netball competition.
Taurua will see out the final year on her Lightning contract while also coaching the Ferns.
She said she was glad to have the opportunity to pursue both roles.
"I am very fortunate that most major international netball events are scheduled outside the Suncorp Super Netball season, enabling me to dedicate adequate time and attention to both roles," Taurua said.
"Netball New Zealand and Sunshine Coast Lightning have given significant consideration to my coaching schedule and reached an agreement that will see me share my time between both teams.
"I am very appreciative of the opportunity to take this step forward in my career and want to acknowledge the extraordinary level of support and encouragement I have received from my family, Sunshine Coast Lightning, Netball New Zealand and the general netball community."
Meanwhile Netball NZ CEO Jennie Wyllie said the move was justified in order to get the right person into the role.
"We have joined with Sunshine Coast Lightning to make this unique position work," Wyllie said.
"It is a first for Netball New Zealand and we're delighted to be moving forward with someone of Noeline's calibre.
"Noeline has been a head coach of franchise teams both here and in Australia and tasted success on both sides of the Tasman.
"Her knowledge of the game is immense, and Noeline is well respected by the athletes and netball community, which is hugely important building towards next year's Netball World Cup.
"The international game has never been so competitive and we are confident Noeline is the right person to guide the Silver Ferns back to the top."