Infradebt funds new solar expansion in New Zealand
Key points
- Australian infrastructure lender Infradebt has agreed to provide a NZ$100 million loan package to support a NZ$174 million renewable energy expansion in New Zealand.
- The transaction brings together international capital to accelerate a major project pipeline consisting of over 300 megawatts of solar and battery infrastructure.
- Japan's Obayashi Corporation is backing the initiative to expand its priority green energy markets while Lightyears scales its regional footprint.
Australian infrastructure lender Infradebt agreed to provide NZ$100 million in loans for a NZ$174 million solar-and-storage expansion planned by Auckland-based developer Lightyears in New Zealand.
The new funding builds upon an existing relationship established when Infradebt partnered with Lightyears in 2025 for its inaugural transaction in the New Zealand market.
"Obayashi and Infradebt are ideal partners to support the next phase of growth for the Lightyears energy platform," said Lightyears Managing Director and Co-Founder Matt Shanks.
The total NZ$174 million investment package includes backing from Japan’s Obayashi Corporation, which will acquire a 90 per cent stake in a new project entity named LYOC1 through phased investments.
The capital injection will accelerate the development of more than 300 megawatts of mid-scale solar and battery infrastructure across the country over the next five years.
Obayashi Corporation has identified New Zealand as a key target region for expanding its international green energy portfolio and deepening its long-term market presence.