Lodestone Energy develops, builds and operates utility‑scale solar farms across New Zealand, focusing on large‑scale, optimised solar generation. Its Kohirā solar farm in Kaitaia is New Zealand’s largest solar installation to date, with more than 61,000 panels, an AC capacity of 23.7 MW and expected annual production of about 56 GWh (enough for ~7,770 households). Kohirā spans 64 ha of panels on an 80 ha property, includes 7 ha to be reforested with native trees, and was the first solar farm in New Zealand to bid into the electricity market. The company reports strong progress on four other Stage 1 sites and has secured multiple sites for Stage 2, signalling a clear pipeline for expansion. Lodestone works in partnership with local iwi (Te Rarawa) and emphasises working with tangata whenua to deliver regional benefits. The company completed a $55 million Series C equity raise, which supports its plans to increase utility‑scale solar generation in New Zealand. Lodestone Energy is building multiple large-scale solar farms and aims to be a leader in grid-scale solar in New Zealand. The company completed a $300 million capital raise to fund five planned solar farms and related development logistics. Construction of the first farm will begin later this year near Kaitaia and will feature more than 58,000 panels, with electricity to be supplied directly to local lines company Top Energy from the middle of next year. Two additional farms are planned for Northland, with one each in Coromandel and the eastern Bay of Plenty. Lodestone expects solar plus the addition of battery storage to be key to moving Aotearoa toward carbon neutrality. Management said the company overcame the pandemic, market volatility, and supply chain disruptions to secure financing and prepare to start building.

Total raised

$355M

Funding rounds

2

Latest round

Equity

Latest activity

Feb 2024