Leaders in renewable energy generation
Eastland Generation is an experienced developer, acquirer and operator of renewable energy plants. Currently in a phase of sustained growth, we have a high-quality asset base and a strong development pipeline. Our diverse portfolio includes four geothermal plants in the Bay of Plenty, a hydro-electric station in Hawkes Bay, and a solar facility in Tairāwhiti.
Together with our owners, project partners and mana whenua, we champion a holistic approach to development and operations.
“We’re dedicated to sustainably managing renewable resources, developing our generation base, building regional energy resilience and supplying electricity to support New Zealand’s economic growth.”
A local-international partnership
Eastland Generation is co-owned by Tairāwhiti Investments Limited and Obayashi Corporation.
Tairāwhiti Investments is a specialist infrastructure company headquartered in Tairāwhiti, with a portfolio that also includes Eastland Port and Gisborne Airport. Their sole shareholder is Trust Tairāwhiti.
Every year, Tairāwhiti Investments returns millions in dividends to support the Trust's programme of regional economic development and community well-being.
Obayashi Corporation is an international construction and engineering company listed on the Tokyo Stock Exchange, with wide-ranging renewable energy development and operational experience in Asia and Oceania.
The partnership with Obayashi Corporation strengthens Eastland Generation’s financial and technical capabilities. It enables us to share expertise, accelerate innovation and continue to expand our portfolio, while maintaining our strong community and partnership model.
Together, we are actively exploring additional renewable energy development projects. We are proud to be helping drive transformative change in the energy sector and contributing to New Zealand’s carbon reduction targets.
The formal signing ceremony for the investment by Obayashi Corporation into Eastland Generation took place in June 2024, during Prime Minister Christopher Luxon's trade mission to Japan.
Back row (from left): Aya Inagaki, Kenichi Ando, Alice Pettigrew, Belinda Lake and Ben Gibson. Front: Tatsuya Inokuchi, Todd McClay, Kenji Hasuwa, Christopher Luxon, Matanuku Mahuika, Debbie Birch and Yukio Mashimo.
Growth strategy
Target 2029: 190MW renewable generation asset portfolio. This will be equivalent to X.X% of national electricity demand.
We are actively seeking new geothermal projects, partnering with landowners to build renewable energy resources for New Zealand. We aim to be the development partner of choice.
Our fourth geothermal plant, the 49MW TOPP2, synched to the national grid on [date TBC]. This increased our overall operating capacity to 118MW, and generation to 898 GWh each year.
By 2029 we aim to have grown still further, increasing our renewable generation portfolio to 190MW.
We have a robust near-term and long-range development pipeline, which is a mix of enhancing existing sites and greenfield opportunities. These include a large new geothermal power plant, and solar opportunities projects in Tairāwhiti and Wairoa.
A positive outlook for renewable electricity generation supports the Eastland Generation growth strategy. Transpower estimates 70% more renewable generation will be needed by 2050 to electrify process heat and transport, and decarbonise the economy. Geothermal is key as a low carbon source of base-load supply, underpinning growing uptake of intermittent wind and solar generation.
