Lodestone Energy

Last updated

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

Lodestone Energy Limited is a New Zealand electricity generation and retail company that specialises in the construction and operation of photovoltaic power stations. As of January 2025, it operates three solar farms, with one more under construction.

Contents

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] In August 2024 the company announced it had acquired sites for two new solar farms in the Manawatu from Kiwi Solar, and that it planned a third. [13]

In April 2025 the company entered the electricity retail market, focusing on commercial and industrial customers. [14]

Power stations

Operational

NameTypeLocationCapacity (MW)Annual generation
(average GWh)		Commissioned
Kohirā Solar Kaitaia, Northland32552024
Rangitaiki Solar Edgecumbe, Bay of Plenty3254 [15] 2024 [16]
Te Herenga o Te Rā Solar Waiotahe, Bay of Plenty42 [17] 692025 [18]

Proposed / under construction

NameTypeLocationProjected capacity (MW)Status
BunnythorpeSolar Bunnythorpe, Manawatu26Proposed
ClandeboyeSolar Clandeboye, Canterbury28Under construction
DunsandelSolar Dunsandel, CanterburyConsented [19]
HaldonSolar Mackenzie District 220Proposed [20]
KairangaSolar Palmerston North, Manawatu27Proposed
Lodestone OneSolar Dargaville, Northland60Proposed
Mount SomersSolar Mount Somers, CanterburyConsented [19]
Pāmu Rā ki Whitianga solar farm Solar Whitianga, Waikato32Under construction

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. ↑ Janine Rankin (20 August 2024). "Lodestone plans three new solar farms in Manawatū". Stuff. Retrieved 31 August 2024.
  14. ↑ "Lodestone Energy becomes New Zealand energy retailer". EVs & Beyond. 16 April 2025. Retrieved 17 April 2025.
  15. ↑ "Rangitaiki Solar Farm – Lodestone Energy" . Retrieved 29 April 2024.
  16. ↑ "Peter Apperley on LinkedIn: #solarenergy | 16 comments". www.linkedin.com. Retrieved 29 April 2024.
  17. ↑ "Lodestone – Te Herenga o Te Rā, Waiotahe". New Energy. January 2025. Retrieved 15 January 2025.
  18. ↑ "Lodestone Energy's Third And Largest Solar Farm Powers Up". Scoop. 15 January 2025. Retrieved 15 January 2025.
  19. 1 2 "Consents granted for three solar farms in Canterbury". The Post. 18 January 2024. Retrieved 18 January 2024.
  20. ↑ "Lodestone teams up with high-country station for Mackenzie Country solar project". New Zealand Herald. 20 June 2024. Retrieved 20 June 2024.


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