New Zealand’s leading poultry provider, Inghams, has selected Lodestone Energy’s innovative solar contract in a landmark agreement beginning in 2025. Under this 20-year agreement, Lodestone Energy will generate 100% renewable electricity from its solar farms in the Bay of Plenty and Coromandel to meet Inghams’ demand long into the future.
The flexible agreement matches 100% of their consumption and will adapt to Ingham’s energy requirements over time, ensuring the operations are more sustainable and resilient in the face of growing demand and a volatile electricity market.
Inghams Chief Executive New Zealand, Ed Alexander, said: “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 own rooftop solar infrastructure but without the upfront capital cost and ongoing maintenance requirements.”
Gary Holden, Managing Director of Lodestone, said: “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 in a timely manner, and with this agreement, Lodestone’s rapid development programme will deliver premium certified credentials as their current contracts expire.”
As a part of this agreement, Lodestone will supply Inghams with Renewable Energy Certificates (RECs).
“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,” says Holden.
“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 New Zealand.
“This past winter has reminded all commercial operations to hedge their electricity usage. It is now the time to extend that thinking to longer terms that avoid the ongoing risk of carbon costs and natural gas. A solar-based hedge created with Lodestone’s new renewable generation was seen by Inghams as an attractive solution,” added Holden.
For Lodestone, this partnership is another important step in delivering on a capital programme that plans to add over 800 GWh to market by 2028.
