Pioneer Energy and Central Lakes Trust have announced 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 aligned closely with Pioneer Energy and CLT values, the organisations announced. 

The partnership sees Tōtara Energy LP acquire a 30 percent stake in Pioneer Energy Group Limited Partnership. 

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. 

“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,” Tauhara North No.2 Trust chair Wikitoria Hepi-Te Huia said.

Central Lakes Trust chair Linda Robertson said they were 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 percent owned by Central Lakes Trust, will remain the majority shareholder in Pioneer Energy Group Limited Partnership.

Capital raised through the process will support Pioneer Energy Group LP’s continued investment in renewable energy and waste-to-energy projects.

It also enables further diversification of the business, ensuring long-term value for shareholders and the communities they represent. 

Since its inception in 2000, CLT has grown its asset base from the $155M settled by the Otago Central Electric Power Trust to assets totalling more than $500M (including its shareholding in Pioneer), and has distributed more than $158.9M into a wide range of community projects and services throughout the CLT area (as at March 31, 2025). 

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