Acquisition adds to Lodestone’s multi-site plan in the Manawatu region.
15 August 2024
Lodestone Energy, New Zealand’s leading solar generation company, has today announced the acquisition of two prime grid-scale solar sites in the Manawatu region from Kiwi Solar.
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The Manawatu sites will generate approximately 27MWp each, producing an additional 84GWh of renewable electricity each year, capable of powering up to 11,700 homes. Both sites have land options signed and are well-progressed in the connection process with Powerco.
Gary Holden, Managing Director of Lodestone, says: “There is consensus across the electricity market that solar has become the most cost-effective source of clean electricity generation. Lodestone’s strategy to develop a diverse spread of regional solar resources, to serve the needs of consumers across New Zealand, is enhanced with these two well-developed sites. We saw immediate synergy with our other site in this area and look forward to linking this trio of generators to customers seeking to take advantage of the long-term benefits of solar.”
Andrew Beckett, Founder of Kiwi Solar says, “Lodestone was identified as a strong partner with a proven capability in developing and operating solar farms of this scale. Kiwi Solar is working on a further pipeline of 100MWp of utility-scale solar farms with a focus on 5 to 10MWp sizes that are developed and constructed in-house.”
The two Manawatu sites will be developed in conjunction with a third Manawatu site that is already consented and in detailed planning. Construction on the first of these sites is due to start in mid-2025.
“Consultation with the community is underway. Having the support of our communities is vital to the success of our farms. Our goal is to create solar farms that not only generate clean energy but also bring positive economic and environmental benefits to the regions,” says Holden.
This acquisition builds on Lodestone’s mission to deliver renewable solar energy at pace, driving New Zealand towards a more sustainable energy future.
Lodestone has two operational solar farms located near Kaitaia and Edgecumbe, two more near Waiotahe and Whitianga under construction and a further ten solar projects in various stages of development across New Zealand, bringing 564 MWp of new renewable energy to market....
Read the full news release here
