Obayashi pays $228m for half stake in Eastland Generation

Obayashi pays $228m for half stake in Eastland Generation
Te Ahi O Maui is a 26MW geothermal power plant on the Kawerau Geothermal Reservoir. (Image: Eastland)
Brent Melville
Obayashi Corporation's purchase of a 50% stake in New Zealand renewable energy firm Eastland Generation for NZ$228 million is grounded in the Japanese conglomerate's desire to hit carbon neutrality.Gisborne-based Eastland Group announced it had hived off half of its renewable energy interests on Nov 13 as part of a successful capital raise, which was underpinned by an enterprise valuation for those interests of more than $500m. The sale is conditional on Overseas Investment Office approval, which Eastland Group said was expected in...

More Energy

What will ministers tell electricity bosses?
Policy Analysis

What will ministers tell electricity bosses?

The urge for electricity market reform is strong, but needs to solve the right problems.

Pattrick Smellie 11 Sep 2025
Watts to challenge gentailers on 2026 'energy security'
Energy

Watts to challenge gentailers on 2026 'energy security'

Minister for Energy Simon Watts spoke at the Climate Change & Business Conference.

Pattrick Smellie 10 Sep 2025
Transpower to spend $1.1b on Cook Strait link upgrade
Infrastructure

Transpower to spend $1.1b on Cook Strait link upgrade

Transpower plans to spend $1.1 billion on upgrading the electricity link between the North and South Islands.The state-owned power grid operator said it had applied to the Commerce Commission for approval to invest in the High Voltage Direct Current (HVDC) link.The proposal inclu...

Staff reporters 09 Sep 2025
Govt seeks list of 20 businesses to get off gas
Energy Exclusive

Govt seeks list of 20 businesses to get off gas

As supply crunch continues, Simon Watts says: 'All options are on the table.'

Dileepa Fonseka 08 Sep 2025