{"id":613928,"date":"2026-09-28T03:20:16","date_gmt":"2026-09-28T03:20:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/613928\/"},"modified":"2026-09-28T03:20:16","modified_gmt":"2026-09-28T03:20:16","slug":"lodestone-energy-nzx-listing-set-for-october-22-at-2-25-a-share","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/613928\/","title":{"rendered":"Lodestone Energy NZX listing set for October 22 at $2.25 a share"},"content":{"rendered":"The IPO opens on September 29 and closes on October 14.<\/p>\n
The last major listing of any size was property company Winton in December 2021.<\/p>\n
Lodestone was founded in 2019 to bring utility-scale solar to the New Zealand electricity market.<\/p>\n
\u201cLodestone\u2019s strategy is based on the vision of a solar farm in every community, integrated with New Zealand\u2019s largely renewable energy electricity grid,\u201d the company said in its notice to the NZX.<\/p>\n
Lodestone generates 100% renewable electricity from its operational solar farms across the North and South Islands.<\/p>\n
\u201cLodestone is a vertically integrated renewable electricity generator that develops, constructs and operates its solar farms and sells electricity directly to its customers through its innovative \u2018virtual rooftop\u2019 contracting model,\u201d it said.<\/p>\n
The company currently serves commercial and industrial customers and has begun selling electricity to mass-market retail customers, extending its proposition to households and small businesses in the communities where it operates, it said.<\/p>\n
The business already owns and operates five utility-scale solar farms across New Zealand, generating enough electricity to power more than 33,000 average New Zealand homes annually.<\/p>\n
Its sixth farm is under construction, and the company is targeting 16 to 18 operating solar farms by 2032.<\/p>\n
Lodestone managing director Gary Holden said the IPO is about continuing the growth of a business the team has spent the past six years building.<\/p>\n
\u201cWe founded Lodestone Energy in 2019 with a vision to build a solar farm in every community,\u201d he said.<\/p>\n
\u201cSince then, we have built the capability to identify and develop high-quality sites, construct and operate solar farms, and sell the electricity they generate directly to customers. <\/p>\n
\u201cThe IPO allows us to continue doing what we have been doing, but at greater scale.\u201d<\/p>\n
Lodestone\u2019s commercial and industrial customers include The Warehouse Group, Inghams, Halls, Pink Batts, Open Country Dairy and Briscoes.<\/p>\n
The majority of the volume supplied under its commercial Virtual Rooftop Contracts is contracted on longer-term agreements, with terms ranging from five to 20 years, compared with the one to three-year industry norm.<\/p>\n
Lodestone\u2019s growth plan comes as electricity demand in New Zealand is expected to rise.<\/p>\n
Government department MBIE expects demand to increase 21% between 2025 and 2035, driven by population growth, greater electrification of industry and transport, and data centre growth.<\/p>\n
Jamie Gray is an Auckland-based journalist, covering the financial markets, the primary sector and energy. He joined the Herald in 2011.<\/p>\n
Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our Business newsletter<\/a>\u00a0\u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"The IPO opens on September 29 and closes on October 14. The last major listing of any size…\n","protected":false},"author":2,"featured_media":613929,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[3548,4727,102369,15408,1975,138,1656,1667,2174,1888,1342,2082,10005,44266,295710,1446,1132,111,139,69,13979,1570,10112,2515,1551,2122,4166,26267,14638,1530],"class_list":["post-613928","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-3548","tag-4727","tag-102369","tag-almost","tag-at","tag-business","tag-company","tag-energy","tag-exchange","tag-first","tag-five","tag-for","tag-list","tag-listing","tag-lodestone","tag-making","tag-million","tag-new-zealand","tag-newzealand","tag-nz","tag-nzx","tag-october","tag-power","tag-raise","tag-set","tag-share","tag-solar","tag-substantial","tag-wants","tag-years"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/613928","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=613928"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/613928\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/613929"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=613928"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=613928"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=613928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}