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ASB, a New Zealand-based commercial bank, has committed funding for the Central Hawke’s Bay utility-scale solar project as the joint venture between Centralines and Lodestone Energy reached financial close. With financing for this NZD 50 million project obtained, it will now go into the construction phase. The farm, which is located at Ruataniwha Plains, New Zealand, will consist of some 49,000 solar panels and will produce around 50 GWh of power annually which will be sufficient to meet the needs of roughly 7,000 households. It will provide power straight into the Centralines electricity distribution network. Pre-construction work is currently under way and construction will commence once spring arrives in the Southern Hemisphere. Centralines said its ownership stake will retain long-term value within the local community.
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