en.Wedoany.com Reported - Centralines and Lodestone Energy have reached financial close on a utility-scale solar farm project in the Hawke's Bay region of New Zealand. The Central Hawke's Bay Solar Farm, jointly developed by the two companies through a 50:50 joint venture, is scheduled to begin construction in spring.
ASB Bank provided financial support for the project and was assisted by legal, financial, insurance, and commercial partners who offered support throughout the development process. Once completed, the solar farm will generate enough renewable electricity to power approximately 7,000 local households. The electricity produced will be directly connected to the Centralines network, helping to increase local renewable energy generation and enhance energy resilience across the Central Hawke's Bay region.
The project also aligns with Centralines' long-term goal of generating electricity locally within the Central Hawke's Bay community while retaining economic benefits. The solar farm is the sixth solar photovoltaic plant in Lodestone Energy's portfolio and, once built, will further diversify New Zealand's energy mix beyond traditional hydro and wind power.
Located on the east coast of New Zealand's North Island, the Central Hawke's Bay Solar Farm is situated in a region known for agriculture and horticulture, where renewable energy projects have been gradually increasing in recent years. Under the joint venture agreement, the two companies will each hold a 50% stake in the project, sharing development and operational responsibilities. Environmental assessments and grid connection feasibility studies were completed before the project launch, and relevant permits have been approved by local authorities. The construction phase is expected to create a number of local jobs, with long-term operation and maintenance positions also available during the operational period.
In recent years, the New Zealand government has set targets for the share of renewable energy generation, driving the development of solar and wind projects. As a local electricity distribution company, Centralines is enhancing local generation capacity through this project, reducing reliance on long-distance transmission. Lodestone Energy, meanwhile, focuses on developing New Zealand's solar market and has previously built and operated solar plants in several regions of the North Island. The collaboration model between the two parties provides a reference case for synergy between local utility companies and renewable energy developers.
