Energy

Community trust seeks to sell its Tairāwhiti electricity lines company

Ian Llewellyn
Thu, 23 Jun 2022

Community trust seeks to sell its Tairāwhiti electricity lines company
Eastland Network is the electricity lines company for Gisborne, Wairoa and the East Coast. (Image: Eastland Group)
Ian Llewellyn
Thu, 23 Jun 2022
Community trust-owned Eastland Group has decided to sell its electricity lines business, Eastland Network, to free up cash to diversify its asset base and increase its renewable generation portfolio.The sole shareholder of Eastland Group is Trust Tairāwhiti. It was set following the electricity reforms in the early 1990s when the majority of Tairāwhiti residents supported the then $20 million equity of the local power board being retained in the region through a community trust ownership model.Eastland Network is the electricity lines comp...

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