Five solar farms planned

Lodestone Energy aims to develop five solar farms in the upper North Island – all due to be ready by the end of summer 2023/2024.

The $300 million project is expected to provide about 1% of the country’s electricity supply, producing about 400GWh annually which could power the equivalent of 150,000 EVs or 55,000 Hamilton homes.

The new Auckland-based company has secured sites near Dargaville, Kaitaia, Whakatane, Edgecumbe and Whitianga, with the first solar farm at Kaitaia (62GWh) expected to start later this year and be finished in 2022, Stuff says.

Energy minister Megan Woods is reported to welcome the news, hoping it will lead to cheaper power bills and reduced fossil fuel reliance.

Other energy companies are also considering introducing solar, while Mercury has wind farms and geothermal developments under way as more move to increase their renewable energy portfolios.

The five solar farms will cover 500 hectares and comprise 500,000 solar panels in sections to allow farming operations such as grazing and using farm machinery to continue on the sites.

The solar panels are expected to be double-sided and be able to move with the sun, the farms later likely to include storage batteries.

Former power supplier Pulse Energy chief executive Gary Holden leads the new Lodestone Energy team.