Lodestone signs Briscoe Group & Farro to solar deals

Lodestone Energy has signed electricity supply agreements with Briscoe Group and Farro, adding two established New Zealand brands to the solar generator's commercial customer base.

The agreements expand Lodestone's roster of business customers as it grows electricity sales from its utility-scale solar farms. Managing Director Gary Holden said the signings reflected demand from companies seeking renewable electricity and greater certainty over energy costs.

Briscoe Group and Farro join a customer base Lodestone has been building as it expands generation. The company develops, constructs, and operates solar farms in New Zealand, then sells the electricity directly to customers.

Solar expansion

Lodestone owns and operates five utility-scale solar farms, which it says generate enough electricity each year to supply more than 33,000 average New Zealand homes.

A sixth solar farm is under construction, and Lodestone is targeting between 16 and 18 operating solar farms by FY32 as it expands its market footprint.

Lodestone says its model gives businesses more visibility over future electricity costs while supporting new investment in solar generation. That proposition has become more relevant as companies look for ways to manage operating expenses and secure supply from renewable sources.

Holden said the latest customer agreements reflected those priorities.

"We're pleased to welcome Briscoe Group and Farro to Lodestone. These are familiar New Zealand brands with different electricity needs, but a shared interest in renewable power and more predictable energy costs," said Gary Holden, Managing Director of Lodestone.

Managing costs

Electricity costs remain a significant expense for many commercial and industrial users, particularly businesses with multiple sites, warehousing needs, or energy-intensive operations. Supply agreements that provide a clearer view of pricing can help with budgeting and procurement decisions.

Lodestone says that benefit sits alongside the appeal of sourcing electricity from solar generation. The company is vertically integrated, combining generation with direct sales to customers. It now sells to commercial and industrial users while also expanding toward mass-market retail customers.

The latest contracts come as solar investment continues to gather pace in New Zealand's electricity sector. Utility-scale projects are becoming a larger part of the supply mix as developers respond to demand from businesses and households for lower-emission electricity sources.

Growth strategy

For Lodestone, customer signings and construction activity are closely linked because contracted demand can support decisions to add new generation. Holden said that relationship sits at the centre of the company's growth plan.

"Electricity is an important operating cost. Our model helps businesses plan ahead with greater certainty over what they'll pay, while their commitment supports investment in more solar generation for New Zealand," said Holden.

The company was founded in 2019 with a focus on bringing utility-scale solar to the New Zealand electricity market. Since then, it has built a portfolio of operating farms and set a longer-term target for further expansion.

Holden said the latest additions fit that strategy.

"Growing our customer base and building more solar farms go hand in hand. Signing Briscoe Group and Farro, along with other recent key customer signings, is another step on that growth path as we continue to expand the business," added Holden.