Lodestone Energy

Lodestone Energy Limited is a New Zealand electricity generation company that specialises in the construction and operation of photovoltaic power stations. As of April 2024, it operates one solar farm, with two more under construction.

Lodestone Energy
Company typePrivate
IndustryElectricity generation
Founded2019
Headquarters
New Zealand
Key people
Gary Holden
Websitelodestoneenergy.co.nz

History

In May 2021, the company announced plans for five solar power stations, capable of generating one percent of New Zealand's power.[1][2] In June 2022, it completed a $300 million capital raise to fund its initial projects.[3] Investors in the company included Rod Drury, Sam Morgan, and Stephen Tindall.[4]

In July 2023, Lodestone Energy was granted a NZ$15 million working capital facility by Green Investment Finance to fund its solar farm developments.[5][6] In October 2023, it announced a partnership with British joint venture HES Aotearoa to develop a further nine solar farms.[7] In January 2024, the company announced plans to build three solar farms in Canterbury as part of the partnership.[8] In April 2024, it completed a $55 million capital raise to fund further expansion.[9]

Construction of the company's first solar farm, Kohirā, began in early 2023 and was completed in February 2024.[10] In September 2023, Lodestone Energy signed a long-term supply contract with The Warehouse Group to supply their retail stores with electricity.[11][12]

Power stations

Operational
NameTypeLocationCapacity (MW)Annual generation
(average GWh)		Commissioned
KohirāSolarKaitaia, Northland32552024
RangitaikiSolarEdgecumbe, Bay of Plenty3254[13]2024[14]

Proposed / under construction
NameTypeLocationProjected capacity (MW)Status
ClandeboyeSolarClandeboye, CanterburyConsented[15]
DunsandelSolarDunsandel, CanterburyConsented[15]
HaldonSolarMackenzie District220Proposed[16]
Lodestone OneSolarDargaville, Northland60Proposed
Lodestone FiveSolarWhitianga, WaikatoProposed
Mount SomersSolarMount Somers, CanterburyConsented[15]
Te Herenga o Te RāSolarWaiotahe, Bay of Plenty30Under construction[17]

References
  1. Pullar-Strecker, Tom (12 May 2021). "$300m plan for five solar energy farms, providing 1pc of country's supply". Stuff. Retrieved 26 April 2024.
  2. "Plans under way for NZ's first major solar farms". Farmers Weekly. 12 May 2021. Retrieved 26 April 2024.
  3. "Lodestone Energy raises $300m to fund five large solar farms". RNZ. 7 June 2022. Retrieved 26 April 2024.
  4. Pullar-Strecker, Tom (7 June 2022). "Rod Drury and Sam Morgan help get $300m solar farm project over the line". Stuff. Retrieved 26 April 2024.
  5. "Government's green investment bank adds $15m to solar project". RNZ News. 26 July 2023. Retrieved 26 April 2024.
  6. "Lodestone Energy". New Zealand Green Investment Finance. Retrieved 26 April 2024.
  7. Carroll, David (5 October 2023). "Lodestone links with UK companies to progress NZ solar strategy". PV Magazine. Retrieved 26 April 2024.
  8. Tobin, Chris (26 January 2024). "Three solar farms to be built in Canterbury". Stuff. Retrieved 26 April 2024.
  9. Gray, Jamie (9 April 2024). "Solar firm Lodestone Energy completes $55 million capital raise". The New Zealand Herald. Retrieved 26 April 2024.
  10. Dinsdale, Mike (28 February 2024). "Lodestone Energy's solar farm in Kaitāia starts powering national grid". Northern Advocate. Retrieved 26 April 2024.
  11. "Hundreds of The Warehouse Group sites to be powered by solar farms". RNZ News. 19 September 2023. Retrieved 26 April 2024.
  12. "Electricity from Kaitāia solar farm to power big-box retailers". Northern Advocate. 30 October 2023. Retrieved 26 April 2024.
  13. "Rangitaiki Solar Farm – Lodestone Energy". Retrieved 29 April 2024.
  14. "Peter Apperley on LinkedIn: #solarenergy | 16 comments". www.linkedin.com. Retrieved 29 April 2024.
  15. "Consents granted for three solar farms in Canterbury". The Post. 18 January 2024. Retrieved 18 January 2024.
  16. "Lodestone teams up with high-country station for Mackenzie Country solar project". New Zealand Herald. 20 June 2024. Retrieved 20 June 2024.
  17. "Lodestone Energy begins construction at its next utility-scale solar site – Lodestone Energy". Retrieved 26 April 2024.


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