Eastland Generation recently attended a formal signing ceremony in Japan as part of New Zealand Prime Minister Rt Hon Christopher Luxon’s mission to lift its engagement with the country by diversifying trade and accelerating New Zealand’s economic growth.
The ceremony commemorated Obayashi Corporation’s investment in Eastland Generation, finalised in late April, in partnership with Eastland Group.
Eastland Generation Chair Matanuku Mahuika said, “It was a special occasion to have this witnessed by our Prime Minister and other dignitaries alongside our new partners, Obayashi Corporation.”
New Zealand Prime Minister Christopher Luxon said, “This partnership is a great example of how New Zealand and Japanese companies can successfully collaborate and add value to each other through investment and shared knowledge, while delivering strong benefits to our people and our communities and driving better outcomes for our planet.”
It is a pivotal step for Obayashi Corporation, acquiring a 50% stake in Eastland Generation, cementing a strong partnership poised to drive further growth in sustainable energy development and innovation in Aotearoa.
The partnership will bring together Eastland Generation’s and Obayashi Corporation’s complementary expertise to advance sustainable energy development towards a carbon neutral future.
Together, they own three geothermal generation assets in the central North Island: Te Ahi o Maui (26MW), Geothermal Developments Ltd (9MW), and TOPP1 (24MW). They also own a hydropower station (5MW) near Wairoa and a utility-scale solar farm (5MW) in Tairāwhiti.
Additionally, Eastland Generation’s pipeline of development projects, such as the TOPP2 (49MW) geothermal project, along with other renewable opportunities and feasibility studies, are part of this partnership.