22-04-2025
NZ's Lodestone completes $50m capital raise
Lodestone engaged international markets and existing shareholders in the capital raise.
The company said it was in a continuous process of developing solar sites as the demand from customers for lower-cost electricity builds.
The Government and regulators are calling for faster delivery of renewable energy to meet growing demand and to displace expensive gas and imported coal.
'With our fourth farm coming online in Whitianga, we are running at pace to satisfy the number of large electricity users who need low-cost, stable supply,' Holden said.
Holden said there was little doubt the industry-wide push for utility-scale solar and battery storage would ultimately reduce the cost of electricity.
Lodestone Energy - founded in 2019 - is the country's first utility-scale solar generation company.
The company is majority New Zealand-owned through private equity partnerships including Jarden Principal Investments, Purpose Capital, Tauhara North No.2 Trust, ACC, K1W1 and Pathfinder.
