New Zealand developer Lightyears has announced a NZ$174 million funding package to support its solar and battery development pipeline.
The 3 November announcement combines NZ$74 million of planned investment from Japan’s Obayashi Corporation with a NZ$100 million lending facility from Australian infrastructure debt manager Infradebt.
Obayashi will take a 90% stake in a new project-holding company, LYOC1. Its investment is to be made in stages as projects reach development milestones, so the headline package should not be read as cash already spent on construction.
Lightyears says the arrangements support a pipeline exceeding 300 MW over the next five years. It reports a 14 MW Reefton solar farm nearing completion, the 15 MW Te Aho o te Rā project near Kuratau under construction, and ground-breaking at a 6 MW site near Ashburton.
The financing broadens the developer’s capacity to progress several sites at once. Individual completion dates and deployment of the pipeline remain subject to project delivery.
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Source: Company announcement.
Image credit: Illustrative solar-technology file photograph: Jännersdorf Solar Park, Germany, 30 June 2012. Not a Lightyears facility or a New Zealand project. Parabel GmbH / Wikimedia Commons, CC BY-SA 3.0. Source photograph; licence. Original resolution retained.
Compiled by Energy People with AI assistance from the linked source. No interview or on-site reporting is implied.
