Inghams, New Zealand's top poultry producer has entered a landmark agreement with Lodestone Energy set to begin in 2025. Under this deal, Lodestone Energy will supply 100% renewable energy from its solar farms in the Bay of Plenty and Coromandel to meet Inghams' energy needs for the long term.
Lodestone Energy and Inghams Partner for 20-Year Solar Deal
Lodestone Energy, a grid-scale solar developer in Aotearoa New Zealand has formed a significant 20-year partnership with poultry supplier Inghams. Under this agreement, Lodestone will supply 100% of Ingham's electricity needs through its solar farms located on the North Island.
The flexible agreement guarantees 100% coverage of Ingham’s energy needs and will evolve with their consumption requirements, enhancing sustainability and resilience amid increasing demand and a fluctuating electricity market.
“Lodestone’s 100% renewable energy proposition is innovative, saves us money and enables Ingham’s to meet its decarbonisation goals long into the future. We are obtaining the same outcome as if we built our rooftop solar infrastructure but without the upfront capital cost and ongoing maintenance requirements.” said Ed Alexander, Inghams Chief Executive New Zealand.
"We are like-minded organisations, and it is satisfying to us to see another industry segment acting quickly to embrace our solution. Inghams had a strong desire to move to a fully decarbonised electricity supply promptly, and with this agreement, Lodestone’s rapid development programme will deliver premium certified credentials as their current contracts expire.” said Gary Holden, Managing Director of Lodestone.
Lodestone's Solar Hedge: A Sustainable Solution
Lodestone's solar hedge solution, backed by renewable energy certificates (RECs) encourages organizations to adopt long-term strategies that go beyond the uncertainties of carbon pricing and gas expenses.
The Te Herenga o Te Rā (Waiotahe) agrivoltaics solar farm, located near the Bay of Plenty boasts 70,000 panels that produce 69 GWh annually is part of the agreement. The agreement also encompasses other solar farms in the Coromandel region. This includes Lodestone's latest project, Whitianga which is anticipated to generate 50 GWh annually from 53,000 solar panels and is scheduled for completion in November 2025.
The Te Herenga o Te Rā solar farm
“RECs are becoming recognised as the most tangible way for electricity consumers to contribute to the green energy transition. By offsetting 100% of their consumption with new sources, Inghams will directly play its part in a decarbonised future,” said Gary Holden, Lodestone Energy Managing Director.
"At Inghams, sustainability is at the core of our operations. This long-term agreement with Lodestone allows us to not only offset our electricity carbon footprint but also secure a stable and cost-competitive energy source for the future," added Ed Alexander, Ingham’s Chief Executive in New Zealand.
Partnerships’ Commitment to Sustainable Energy
Lodestone Energy Limited is New Zealand's foremost utility-scale solar generation company, established in 2019 to support the national initiative to decarbonize the energy sector. The company is expanding its capital program to significantly increase solar production in the New Zealand electricity market and to lead in offering solar-based energy contracts to customers.
Lodestone currently has four utility-scale solar farms either operational or under construction in Northland, the Bay of Plenty and the Coromandel, with additional sites planned in Dargaville, Manawatu and Canterbury set to begin in 2025.
Inghams Enterprises (NZ) Pty Ltd is a prominent poultry producer in New Zealand dedicated to providing high-quality products while prioritizing sustainability and minimizing its environmental impact. By implementing innovative practices and forming strategic partnerships, Inghams aims to promote a more sustainable future for the food industry.