Lodestone Energy
Lodestone Energy is a New Zealand electricity generation and retail company developing and operating photovoltaic solar farms.
Last updated August 26, 2026
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Overview
Lodestone Energy is a New Zealand renewable-energy company focused on the development, construction, ownership and operation of photovoltaic solar power stations. Its business model combines utility-scale and commercial-scale solar generation with electricity retailing for business customers. The company’s stated development program emerged publicly in 2021, when it announced plans for five solar power stations intended collectively to produce an amount of electricity equivalent to about one percent of New Zealand’s national power supply. The company funded its initial development pipeline through private capital. In June 2022, Lodestone completed a capital raise of approximately NZ$300 million, with investors including New Zealand technology entrepreneur Rod Drury, Trade Me founder Sam Morgan and philanthropist and investor Stephen Tindall. The financing supported the development of the company’s first group of solar projects and helped establish Lodestone as a significant independent participant in New Zealand’s emerging solar-generation market. Construction of the first project, Kohirā, began in early 2023. The solar farm was completed in February 2024, marking Lodestone’s transition from a project developer into an operating electricity generator. In July 2023, the company also received a NZ$15 million working-capital facility from New Zealand Green Investment Finance to support the development of its solar portfolio. The facility complemented the company’s equity funding and was directed toward project-development and construction requirements. Lodestone expanded its development ambitions through a partnership announced in October 2023 with HES Aotearoa, a British joint venture. The partnership was intended to support the development of nine additional solar farms. In January 2024, Lodestone announced plans for three solar farms in Canterbury within that broader relationship. In April 2024, it raised a further NZ$55 million to fund continued expansion. Later that year, the company announced the acquisition of sites in the Manawatū region for two additional solar farms from Kiwi Solar, with a third site also planned. The company has also pursued direct relationships with electricity users. In September 2023, Lodestone signed a long-term electricity-supply agreement with The Warehouse Group, covering power for the group’s retail stores. In April 2025, Lodestone entered New Zealand’s electricity-retail market, concentrating on commercial and industrial customers rather than positioning itself primarily as a mass-market residential retailer. Lodestone’s brand is therefore associated with the development of new renewable-generation capacity, long-term power supply, and the commercialisation of solar energy in New Zealand. Its operating model spans project origination, financing, construction, asset operation and business-focused electricity retailing. Reference material describes the company as operating five solar farms, with another under construction as of August 2026; that date and operating count should be treated as time-specific and may require verification against the latest company disclosures.
History
Lodestone Energy developed as an independent New Zealand renewable-energy company specialising in photovoltaic electricity generation. Its public growth strategy dates to May 2021, when it announced plans for five solar power stations. The proposed portfolio was intended to generate electricity equivalent to approximately one percent of New Zealand’s national power consumption, reflecting the company’s ambition to contribute materially to the country’s renewable-generation build-out. To finance the initial pipeline, Lodestone completed a capital raise of approximately NZ$300 million in June 2022. Reported participants included Rod Drury, Sam Morgan and Stephen Tindall. The funding provided a substantial private-capital base for project development, construction and related corporate activities. Unlike a listed utility, Lodestone’s financing during this phase came through private investment and dedicated project-support facilities rather than public-market equity disclosed through a stock exchange listing. The company’s first major construction project was the Kohirā solar farm. Work began in early 2023, and the project was completed in February 2024. Kohirā represented an important transition in Lodestone’s history: before its completion, the company was primarily a developer assembling sites, capital and delivery arrangements; afterward, it had an operating generation asset. In July 2023, New Zealand Green Investment Finance provided Lodestone with a NZ$15 million working-capital facility to help fund solar-farm development. Lodestone broadened its pipeline through collaboration with HES Aotearoa, a British joint venture. Announced in October 2023, the partnership contemplated the development of nine further solar farms. In January 2024, Lodestone identified three Canterbury projects as part of that collaboration. The company raised another approximately NZ$55 million in April 2024, supporting its expansion beyond the first wave of projects. Alongside generation development, Lodestone began building a customer and retail proposition. In September 2023, it entered a long-term electricity-supply agreement with The Warehouse Group for power supplied to the group’s retail stores. This arrangement connected Lodestone’s renewable-generation activities with a large commercial electricity user. In August 2024, Lodestone announced the acquisition of sites for two new Manawatū solar farms from Kiwi Solar and stated that it intended to develop a third site in the region. In April 2025, Lodestone entered the electricity-retail market. Its retail strategy focused on commercial and industrial customers, extending the company’s role from renewable generator and project developer into direct electricity supply. This vertical expansion gave Lodestone a route to serve business customers through a combination of generation assets, power procurement and retail relationships. Reference material describes Lodestone as operating five solar farms, with another under construction as of August 2026. Because this is a future-dated, time-specific statement, the exact asset count and project status should be checked against current company or regulatory records before being treated as a permanent corporate fact. No executive roster, formal headquarters address, website URL, stock-market listing or founding year is established in the supplied material.
- 2025
Commercial and industrial electricity retail launched
[1]Lodestone entered the electricity-retail market with a business-customer focus.
- 2024
Kohirā completed
[1]Lodestone completed its first solar farm in February.
- 2024
Canterbury expansion announced
[1]The company announced plans for three Canterbury solar farms.
- 2024
Further NZ$55 million capital raise completed
[1]The additional funding supported continued expansion of the solar portfolio.
- 2024
Manawatū sites acquired
[1]Lodestone acquired two solar-farm sites from Kiwi Solar and planned a third in the region.
- 2023
Kohirā construction begins
[1]Construction started on Lodestone’s first solar farm.
- 2023
Working-capital facility secured
[1]Green Investment Finance provided a NZ$15 million facility for solar-farm development.
- 2023
The Warehouse Group supply agreement signed
[1]Lodestone entered a long-term electricity-supply contract covering The Warehouse Group’s retail stores.
- 2023
HES Aotearoa partnership announced
[1]The partnership created a framework for developing nine additional solar farms.
- 2022
Initial NZ$300 million capital raise completed
[1]The company completed a major private capital raise to fund its initial solar projects.
Products and positioning
A New Zealand renewable-energy developer, generator and business electricity retailer focused on expanding photovoltaic solar capacity and supplying commercial and industrial customers.
Photovoltaic solar generation · 2024
Kohirā solar farm
Kohirā is Lodestone Energy’s first completed solar-farm project. Construction began in early 2023 and the facility was completed in February 2024. It is a core demonstration of the company’s model of developing and operating photovoltaic generation assets in New Zealand.
Renewable-energy infrastructure · 2021
Solar-farm development portfolio
Lodestone’s broader portfolio comprises photovoltaic solar projects at different stages, including operating, proposed and under-construction farms. Development activity has included projects associated with HES Aotearoa, three proposed Canterbury farms and sites in Manawatū acquired from Kiwi Solar.
Electricity retail · 2025
Commercial and industrial electricity retail
Introduced in April 2025, Lodestone’s retail activity supplies electricity to commercial and industrial customers. The offering extends the company beyond asset development and generation into direct business-customer relationships.
Brand decisions
2025
Entry into electricity retailingStrategyBackground
After developing generation assets and signing a major commercial supply agreement, Lodestone expanded toward direct electricity sales.
Action taken
The company entered New Zealand’s electricity-retail market, focusing on commercial and industrial customers.
Aftermath
The move broadened Lodestone’s role from solar developer and generator to an integrated business electricity provider.
2024
Acquisition of Manawatū solar-farm sitesM&ABackground
Lodestone sought additional locations for expanding its New Zealand solar-generation portfolio.
Action taken
The company acquired sites for two solar farms from Kiwi Solar and announced plans for a third site.
Aftermath
The transaction added Manawatū projects to Lodestone’s regional development pipeline.
2023
Partnership with HES AotearoaStrategyBackground
Lodestone needed to expand its project pipeline beyond its initial group of solar farms.
Action taken
The company announced a partnership with HES Aotearoa to develop nine additional solar farms.
Aftermath
The partnership was followed by plans for three Canterbury solar farms announced in January 2024.
2021
Commitment to a five-solar-farm development programStrategyBackground
Lodestone sought to establish a significant position in New Zealand solar generation and announced five planned photovoltaic power stations.
Action taken
The company announced a portfolio intended to produce electricity equivalent to approximately one percent of New Zealand’s power supply.
Aftermath
The announcement established the foundation for the company’s subsequent financing, construction and expansion activity.
Sources1 sources
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