Lodestone Energy raises $50m for New Zealand expansion

Solar energy company Lodestone Energy secured $50 million in a recent capital raise, but has delayed plans for an initial public offering. The funding, supported by existing shareholders, adds to the $50 million raised last year. Lodestone currently operates three solar farms, with a fourth soon to launch, and has multiple projects in development across New Zealand. Managing Director Gary Holden stated a public listing is considered for the future. The company is focused on expansion within New Zealand, anticipating significant investment in renewable energy.