Lodestone secures $50M to expand solar projects in New Zealand

Lodestone Energy, a New Zealand-based solar company, has recently completed a $50 million capital raise to expand its utility-scale PV projects. With limited participation from new investors, the raise was primarily supported by existing shareholders, says Lodestone Energy. The company said it chose to secure funding domestically due to strong backing from New Zealand-based investors, despite international interest. As per Lodestone Energy, the funding will support its first South Island project at Haldon Station and over ten other announced sites. The company stated that its fourth solar farm in Whitianga is now operational. The company emphasized that regulatory support remains essential to accelerate renewable energy deployment in New Zealand.