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Lodestone Energy continues its growth trajectory with nationwide expansion

Lodestone Energy continues its growth trajectory with nationwide expansion

Leading solar energy generation company, Lodestone Energy, announces today a nine solar farm development partnership with HES Aotearoa (HESA), a joint venture formed by Hive Energy, Ethical Power, and Solar South West.

Lodestone Energy is already underway with 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 previously announced 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 500 GWh in additional solar generation for Aotearoa.

Gary Holden, Managing Director of Lodestone Energy, says, “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. The expansion puts us one step closer to bringing grid-scale solar to customers in all regions of Aotearoa New Zealand.”

 “As we enter this next chapter, we look forward to continuing to engage with our new landowner partners while we empower new regions around the country,” adds Daniel Cunningham, GM Development of Lodestone Energy.

“HES Aotearoa are delighted to be working with the team at Lodestone to accelerate these exciting projects through to construction and long-term operation” says Nick Keeler, founding Director at HES Aotearoa.

As the EPC contractor, Ethical Power New Zealand will play an integral role in the delivery of these new solar developments. “We are proud to partner with a company that aligns so closely with our vision of building a sustainable future for New Zealand,” says Matt Rowe, Managing Director of Ethical Power New Zealand.

“The delivery of these new solar farms will bring New Zealand significantly closer to meeting the country’s goal of decarbonisation. We will use our global expertise in grid-scale solar photovoltaics design, optimisation, and construction to deliver the highest quality projects that will generate clean power for years to come.

“The projects, which are at various stages of development, will be built using New Zealand contractors and staff, creating new jobs and skills in the country,” he adds.

“With Ethical Power’s end-to-end capabilities and international experience in the renewable energy space, we look forward to supporting Lodestone with their solar developments,” says Tom Kneen, Founder and CEO of Ethical Power Group.

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

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