Solar farm developer, Lightyears, has refinanced with Australian renewables lender, Infradebt, to take its portfolio of solar farms to 27 MW, split across five farms. Three farms are already operational and two more are under construction.
“We are very pleased to announce this new partnership, which will accelerate the deployment of our solar farms across New Zealand and provide the financial support to ensure our next tranche of projects are successfully built,” said Lightyears’ Co-Founder and Director, Matt Shanks.
“Infradebt has a significant amount of experience in funding the construction and operation of renewable energy projects. We have a pipeline of consented projects and their financial expertise and backing will be instrumental in driving this forward, and getting essential renewable energy generation built and operating.”
The funding provided by Infradebt replaces previous support from NZGIF, which had offered Lightyears a long-term debt facility until the government-backed green bank was wound down this year.
“NZGIF played a significant role in supporting our first few solar farm constructions and we thank them for their support,” added Shanks.
Lightyears Solar has recently completed construction on a fourth community scale solar farm, have two more under construction, and several projects due to begin construction in 2026. They focus on community scale, dual use solar, which allows for productive agriculture to continue beneath solar panels, and the farms are connected to the local distribution network.
“Infradebt is pleased to partner with Lightyears to scale and accelerate the construction of their solar development pipeline. Lightyears are the market leader in developing, building and owning distribution connected solar farms,” commented Infradebt Co-Founder and Investment Director, Chin-Lee Yu.
“New Zealand is undergoing an energy crisis. Solar is best served to replace generation from dwindling gas supplies, particularly during low rainfall years. Infradebt believes solar in New Zealand to be an attractive investment opportunity and is pleased to announce its first transaction in New Zealand,” concluded Chin-Lee.
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