Lodestone snaps up 54-MWp solar project duo in New Zealand

New Zealand-based solar developer and power producer Lodestone Energy has taken possession of 54 MWp of photovoltaic (PV) projects in its home country from compatriot Kiwi Solar.

The bundle includes two 27-MWp schemes in the Manawatu region of New Zealand’s North Island, Lodestone Energy said in a press release. The value of its purchase was kept under wraps.

The two solar plants are expected to have a combined output of 84 GWh of electricity annually, which will be enough to cover the consumption of up to 11,700 homes. Both of the projects have signed land options and are “well-progressed” in the connection process with national electricity distributor Powerco.

“Lodestone’s strategy to develop a diverse spread of regional solar resources, to serve the needs of consumers across New Zealand, is enhanced with these two well-developed sites,” the company said, adding that the purchase was based on assumptions for immediate synergies with a site it owns in the same area as the newly-acquired projects.

Lodestone will develop the two new sites together with the other one at the same locations, which is already consented and in detailed planning. It plans to start building the first of these sites in the middle of 2025.

At present, Lodestone has 564 MWp of renewable energy assets, including operational solar farms and projects under development.

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