Lodestone Energy continues nationwide expansion

Solar energy generation company Lodestone Energy says nine more solar farms will be developed in partnership with HES Aotearoa (HESA), a joint venture formed by Hive Energy, Ethical Power, and Solar South West.

Lodestone Energy is already building its first five solar farms at Kaitaia, Edgecumbe, Waiotahe, Whitianga and Dargaville and, in addition to this new partnership, has been developing several high-quality sites on both the North and South Islands.

Collectively, these new developments are intended to be part of the expansion funded by Lodestone’s second major capital raise programme.

As part of the HESA arrangement, Lodestone has signed on Ethical Power New Zealand as the engineering, procurement, and construction (EPC) partner for the solar developments in the partnership.

Once constructed, the HESA sites represent more than 500GWh in additional solar generation.

“Through new capital partnerships, including a $250 million debt facility from ANZ, Lodestone will have the funding to support the significant growth of solar generation,” says Lodestone Energy managing director Gary Holden.

“The expansion puts us one step closer to bringing grid-scale solar to customers in all regions of Aotearoa New Zealand.”

Lodestone intends to build on its recent announcement with the Warehouse Group with energy from the solar farms sold to businesses and individuals via Lodestone’s retail partnerships.