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 Limited (formerly Eastland Group Limited) is an investment management company 100% owned by Trust Tairāwhiti. Their investment portfolio is focussed on long-term infrastructure, with 100% ownership of Eastland Port and Gisborne Airport and a 50% share of Eastland Generation.
Every year, they return dividends to support Trust Tairāwhiti’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
Our growth strategy is to continue to partner, develop and invest in renewable energy, with a core focus on geothermal energy.
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 3 December 2025. This increased our overall operating capacity to 118MW, and generation to 898 GWh each year.
We have a robust near-term and long-range development pipeline, which is a mix of enhancing existing sites and greenfield opportunities. These include new geothermal power plants, and solar opportunities 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.
