Monday, 13 May 2024 15:05

Lodestone Energy's second solar farm delivering energy

Written by  Staff Reporters
Lodestone Energy is now delivering energy from it second solar farm, Rangitaiki in the Bay of Plenty. Lodestone Energy is now delivering energy from it second solar farm, Rangitaiki in the Bay of Plenty.

Solar generation company, Lodestone Energy is now delivering energy from its second solar farm, Rangitaiki in the Bay of Plenty.

Located a few kilometres from Edgecumbe, the site’s official name, Rangitaiki, was gifted by Ngati Awa. Construction of the solar farm started in March 2023, with a team of more than 130 construction staff, many of whom were from the local community. 

Lodestone will sell the Rangitaiki production, over 50 GWh per annum, into the market through long-term contracts, including 25 North Island stores that are part of The Warehouse Group. 

Gary Holden, managing director of Lodestone Energy, says adding this second site within months of commissioning Kaitaia is part of the company’s plan to build its Phase 1 sites by the end of 2025. 

“We are on a fast-track path to contribute to a consumer-base that is increasingly using more electricity. We believe that engaging customers to be part of the solution is key to keeping the energy transition moving forward and for keeping electricity prices in check,” says Holden.

“With two farms completed, and our third farm in Waiotahe on track to be generating by the end of the year, we are pleased that Lodestone and its customers are joining forces at this critical time.”

Lodestone’s construction partners, Infratec and New Energy, are playing a key role in helping deliver its Phase 1 sites in an ambitious timeframe. Lodestone also has recently awarded the operations and maintenance contract for its five Phase 1 solar sites to NewPower Energy (a WEL Network subsidiary).

Lodestone successfully completed an equity raise of $55 million earlier this year, funding the pre-construction of its Phase 2 projects which will see Lodestone include South Island locations. Overall, Lodestone has put together $600 million in capital across its Phase 1 and 2 portfolio and is planning another raise at the end of the year. Lodestone’s ambitious plan requires a concentrated effort to build new sites continuously through 2025 and 2026.

“We already have customers in both islands and diversifying our production locations is part of serving them most effectively. The South Island has many regions that have plenty of sunshine and land suitable for solar. In the end, like Edgecumbe and Kaitaia, we believe that each population area will have some solar production, and we are dedicated to making sure this happens as soon as possible,” Holden adds. 

More like this

Solar power helping boost rural capacity

Adding solar power generation to the rural economy is picking up pace, with one of the country's leading solar generation companies announcing plans for another 150 GWh (gigawatt-hours) per year at three Canterbury sites.


Home detention for animal neglect

A Taranaki dairy farmer received four-month home detention and was disqualified from overseeing of animals for 18 months over a lack of feed and welfare which led to some animals being euthanised.

Flock House and its secrets

Plans are in place to celebrate the 100th anniversary of the legendary Flock House opening its doors for the first time.

$160 billion cargo shipment deal

New Zealand’s major primary industry exporters have secured shipping capability to export $160 billion worth of products over the next 10 years.

Play by the rules

Trade and Agriculture Minister Todd McClay says the Government is always working to ensure that our food exporters are treated fairly under trade agreements signed with other countries.


Machinery & Products

GPS in control

In a move that will make harvesting operations easier, particularly in odd-shaped paddocks, Kuhn has announced that GPS section control…

» Latest Print Issues Online

The Hound

True colours

OPINION: The watermelon party (AKA the Greens) try to portray themselves as an upright, self-righteous, caring bunch of woke, bicycle-riding…

Peace at last?

OPINION: Good news for hunters as Forest & Bird have "paused" legal action against the Fiordland Wapiti Foundation and agreed…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter