Lodestone Energy of New Zealand has brought online what it says is the 1st utility-scale solar farm of the country to bid into the electricity market, and the largest to date. The Kaitaia project is also the country's 1st solar farm to have an agrivoltaic design to maintain farming activity, according to the company.
While it doesn't specify the installed capacity of the project, the facility with more than 61,000 bifacial solar panels will generate 55 GWh of power annually and is earmarked for residential and commercial energy consumers.
Lodestone says that the Kaitaia project is the 1st of Lodestone's solar farms to have come online as part of its phase I capital program that also includes solar farms at Edgecumbe, Waiotahe, Whitianga and Dargaville. Local discount department store retailer The Warehouse Group has signed up all of their stores to the solar company's phase I portfolio.
Lodestone will use the experience gained during the construction of Kaitaia farm to plan and build its future portfolio. The 2nd project under phase I at Edgecumbe is scheduled for commissioning in early 2024, to be followed by the 3rd farm Waiotahe, in late 2024.
New Zealand is looking at speeding up its renewable energy pace to become one of the earliest nations to reach 100% renewable energy target, up from 80% currently thanks to hydropower. In August 2023, the government roped in BlackRock to support it in its climate ambitions (see NZD 2 Billion Fund For New Zealand's RE Plans).