New equity partnership announced
24 June 2025
Pioneer Energy Group Announces New Equity Partnership to Support Growth and Sustainability
Following a competitive international equity raise process managed by PwC, Pioneer Energy Group Limited Partnership (a subsidiary of Pioneer Energy Limited) and Central Lakes Trust are pleased to announce a new investment partnership with Tōtara Energy LP. The successful bid came from a New Zealand-based organisation with a strong Māori investment base, which aligns closely with Pioneer Energy and CLT values and community-focused approach. This partnership strengthens Pioneer Energy’s position as a 100% New Zealand- and community-owned business.
This partnership sees Tōtara Energy LP acquire a 30% stake in Pioneer Energy Group Limited Partnership, reinforcing the strong alignment between all three parties with deep sector knowledge and a shared commitment to long-term, sustainable investment into Aotearoas renewable energy sector.
The Tōtara Energy LP syndicate consists of Tauhara North No.2 Trust, Te Ngakinga o Whanganui Investment Trust, Tupu Angitu, Parininihi ki Waitōtara Incorporation, Ngāti Kahungunu ki Wairarapa Tāmaki-nui-a-Rua Investment Trust, Ngati Awa Asset Holdings, Soul Capital, Purpose Capital and Trust Horizon.
Wikitoria Hepi-Te Huia, Chair of Tauhara North No.2 Trust (cornerstone investor in Tōtara Energy LP). “It is fitting that as the Matariki star cluster graces the winter night sky above, we embrace the promise of a new partnership with Central Lakes Trust and Pioneer Energy. This collaboration is underpinned by a shared vision for a sustainable future between the new ownership group and a collective commitment to our environment with all benefits ultimately staying in Aotearoa and returning directly to our respective communities”
"Our continued growth and success over the past 15 years, supported by Central Lakes Trust and several long-term partnerships, has positioned us to take advantage of opportunities in the renewable energy market and continue this growth path. Bringing Tōtara on board as a partner in our Group business strategically strengthens Pioneer as a proudly New Zealand, community-owned entity delivering long-term value to the communities our shareholders represent” Rob Hewett, Pioneer Energy Chair
Central Lakes Trust Chair, Linda Robertson stated that “we are delighted to be welcoming Tōtara Energy as a shareholder in Pioneer Energy Group Limited Partnership. We believe Tōtara Energy brings complementary capabilities to our two organisations and has values aligned to our own. Pioneer Energy Limited, which is 100% owned by Central Lakes Trust will remain the majority shareholder in Pioneer Energy Group Limited Partnership”.
The capital raised through this process will support Pioneer Energy Group LP’s continued investment in renewable energy and waste-to-energy projects, contributing to a more sustainable future for Aotearoa New Zealand. It also enables further diversification of the business, ensuring long-term value for shareholders and the communities they represent.
Tōtara Energy LP
The Tōtara Energy LP syndicate comprises nine investors, made up of 6 Māori Entities/Ahu Whenua Trusts/Incorporations and 3 impact investment funds. Tōtara Energy LP are committed to advancing Aotearoa’s renewable energy future. They are values aligned investors with a focus on kaitiakitanga (responsibility and stewardship) who are making meaningful impact investments which contribute positively to society.
Pioneer Energy Group
Pioneer Energy is an innovative energy solutions provider that is a majority owned of Central Lakes Trust. Pioneer Energy has provided $130 million through dividends and interest payments to Central Lakes Trust. This has enabled Central Lakes Trust to support community organisations and charities to provide essential services and deliver community focussed projects.
Originally established in 2000 as a result of electricity reforms, Pioneer Energy has roots tracing back to the Otago Central Electric Power Board. Headquartered in Alexandra, Pioneer Energy operates nationwide, with sites spanning from Auckland to Bluff. The company has a diverse portfolio of assets and partnerships, including renewable energy such as hydro, wind and waste to energy schemes, alongside industrial energy solutions and renewable fuel supplies.
Central Lakes Trust
Central Lakes Trust (CLT) operates as a charitable trust that offers financial support to the charitable sector. CLT is committed to enhancing the central lakes community by funding charities, with the aim of improving the lives of local residents and creating lasting positive impacts in the region.
Since its inception in 2000, CLT has grown its asset base from the $155 million settled by the Otago Central Electric Power Trust to assets totalling more than $500 million (including its shareholding in Pioneer), and has distributed more than $158.9 million into a wide range of community projects and services throughout the CLT area, as at 31 March 2025.
For media inquiries or further information, please contact:
Jamie Rihia
Tōtara Energy GP Limited
Jamie.rihia@tauharano2.co.nz
Lara Mathews
Brand and Marketing Lead
Pioneer Energy Group
lara.mathews@pioneerenergy.co.nz