Specialist renewable energy developers Eastland Generation has confirmed its next two projects in the Bay of Plenty.

On Tuesday, Regional Development and Resources Minister Shane Jones announced that Eastland Generation would receive up to $20 million in suspensory loan funding from the Regional Infrastructure Fund.

The funding is for Eastland Generation’s Taumanu and Kopura Projects near Rotomā and Kawerau.

These have the potential to be small to medium-sized geothermal power stations.

“On behalf of everyone involved in these projects, we would like to thank the Regional Infrastructure Fund for their visionary support and funding,” said Eastland Generation chief executive officer Alice Pettigrew.

“With a $10 million loan available for each project, we can now progress with assessing the geothermal resource available at the sites.

“This will include underground surveys, exploration well drilling and testing.”

Eastland Generation has a partnership approach to development. It collaborates with local Māori land trusts and other landowners to build renewable energy plants on the North Island of New Zealand. It recently completed its fourth geothermal power plant, the 49MW TOPP2, on the Kawerau Geothermal Reservoir.

“Our team is beginning the next stage of the Taumanu and Kopura Projects alongside the landowners,” said Ms Pettigrew.

“Together, we aim to realise the potential of the resource below their whenua.

“We look forward to further contributing to regional energy resilience and economic growth, and a sustainable future for Aotearoa.”