Automotive

Genesis CFO jumped the ship on an independent solar energy generator.

Genesis Energy’s Chief Financial Officer Chris Jewell has been hired by the independent solar power firm Lodestone Energy, in a revolt for the market challenger who suggests that investing in renewables could help change the market structure. ۔

Genesis is one of the country’s three-majority state-owned enterprises, which together with connective energy and trust power generate more than 95% of the country’s electricity.

Its largest power plant is the Huntley Power Station, which burns coal and gas.

Lodestone is a new independent-generation business that the K1W1 Venture Capital Fund of “rich Lester” Gary Hedlton and Sir Stephen Tendal announced in May the country’s first major investment in grid-connected solar power plants.

Read more:
* ڈالر 300 million plan for five solar farms, providing 1% of the country’s supply.
* The sun shines at PM when the Northland Solar Farm opens, but clouds remain over the use of coal.
* Genesis Energy plans the largest NZ investment to date in solar energy.
* Contact the ‘large-scale’ wind farms pipeline in the next 6 years.

Lodestone plans to invest 300 300 million in five solar farms that will come together. Capable of generating approximately 400 to 400 gigawatt hours of electricity., Or about 1 1% of the country’s electricity supply.

It has secured sites for its solar farms near Dargavil, Kaitia, Wakatane, Ejkambe and Watyanga, which it has described as “a turning point for the country’s energy production”.

Construction of Ladstone’s first solar farm – a 62 gigawatt farm in Kaitia – is set to begin later this year and should be completed by the summer of 2022, with all farms scheduled to be operational by the end of 2023.

A picture of one of Lodeston's solar farms

Provided

A picture of one of Lodeston’s solar farms

Lodestone estimates that it could produce free solar energy that would be similar to wind energy, at approximately 7 or 8 cents per kilowatt-hour, typically the highest in New Zealand bar hydro generation. Cheap form.

Genesis declares that a Possibly more investment in solar energySaying that it is finalizing a joint venture with overseas solar firms to generate 750GWh of solar energy each year.

An industry source said Jewel had extensive knowledge of the industry.

Jewel said he is excited to join a company that is well-resourced, “with a strategy that was good for the New Zealand energy market.”

“The ability to help create something new from the ground up was an important part of my decision to join Lodestone,” he said.

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