The agreement has also been deemed flexible, so Lodestone will adjust to ensure 100% of Inghams’ electricity is supplied by solar PV. This protects Inghams from the volatility of the electricity market, which Prime Minister Christopher Luxon recently called an “energy crisis”.

The country has been struggling with a dry year so far, which has significantly reduced hydropower production. Hydropower accounts for a significant portion of the country’s energy mix; according to industry body Energy Resources Aotearoa, hydropower accounts for 22% of the country’s energy supply, second only to oil. This has meant that electricity prices have risen sharply.

In response, the government has introduced a series of radical changes to the country’s energy sector, including reversing the previous government’s ban on new oil and gas projects.

Commenting on the agreement with Lodestone Energy, Inghams New Zealand CEO Ed Alexander said: “Lodestone’s 100% renewable energy proposition is innovative, saves us money and enables Ingham’s to meet its decarbonisation goals well into the future.

“We achieve the same result as if we built our own rooftop solar infrastructure, but without the upfront capital outlay and ongoing maintenance requirements.”

As part of the agreement, Lodestone will provide Inghams with Renewable Energy Certificates (RECs), which provide credible evidence that the electricity was generated using renewable energy sources such as solar, wind or hydropower.

Gary Holden, managing director of Lodestone Energy, believes RECs are seen as “the most tangible way that electricity customers can contribute to the green energy transition”.

“Inghams is committed to a timely transition to a fully decarbonised electricity supply and this agreement will ensure Lodestone’s rapid development programme provides the highest quality certified credentials when the current contracts expire,” Holden added.

Lodestone secures plants with agriPV

In July 2024 Photovoltaic technology announced that Lodestone Energy and Chinese solar panel giant Trina Solar have completed construction of the 32 MW Rangitaiki solar farm in Bay of Plenty, New Zealand.

The project involves elevated modules mounted on trackers that allow sheep to graze underneath. The modules in question are Trina Solar Vertex double-sided panels mounted on TrinaTracker’s Vanguard 2P tracker systems.

The two companies have already collaborated on agrivoltaic power plants in New Zealand. Lodestone developed the Kohirā solar farm on the country’s North Island using Trina modules and trackers. The Auckland-based company is also currently developing a 220MW agrivotlaics power plant on the South Island.