Māori consortium Tōtara Energy LP secures strategic 30% stake in Pioneer Energy Group in deal exceeding $50 million

Our firm is proud to have advised Māori-led consortium Tōtara Energy LP on its acquisition of a strategic 30% stake in Pioneer Energy Group, in what is being described as one of the most significant renewable energy equity investments involving strategic Māori capital.

The transaction saw Tōtara Energy LP outbid international investors in a competitive process, and represents a major milestone for the Māori economy, marking a strategic shift into critical infrastructure investments.

Corporate Partner, Simon Vannini, who led the deal says: “We're proud to have advised Tōtara Energy LP on this complex and groundbreaking deal that brings together diverse Māori and impact investors in pursuit of a shared vision for a clean energy future in Aotearoa.

"We think this transaction represents a watershed moment for Māori investment in New Zealand's renewable energy sector. The scale and strategic significance of this investment demonstrates the growing sophistication and ambition of Māori capital in critical infrastructure sectors, and Simpson Grierson’s involvement reflects our commitment to working closely with Māori entities and the value we place on those relationships," says Mr Vannini.

Tōtara Energy LP comprises of nine entities: six Māori trusts and three impact-focused investment firms. The Māori trusts include cornerstone investor Tauhara North No.2 Trust, alongside Te Ngakinga o Whanganui Investment Trust, Tupu Angitu, Parininihi ki Waitōtara Incorporation, Ngāti Kahungunu ki Wairarapa Tāmaki-nui-a-Rua Investment Trust, and Ngāti Awa Asset Holdings. Impact investors Soul Capital, Purpose Capital, and community trust Trust Horizon complete the consortium.

The investment provides Tōtara Energy LP with a stake in Pioneer Energy's comprehensive renewable portfolio, which includes hydroelectric, wind, and bioenergy assets, as well as retail electricity brand Pulse Energy. Central Lakes Trust will retain its controlling stake, maintaining local ownership and oversight.

The deal attracted interest from at least three international investors. However, Tōtara Energy LP's competitive advantage lay in its long-term Māori investment outlook and commitment to keeping benefits within Aotearoa. 

Mr Vannini says: “This was a unique opportunity for Simpson Grierson to see how this group of aligned investors came together with a common goal of being successful in bidding for this high profile, desirable business that offers a unique mix of renewable assets.”

The new capital will specifically support Pioneer Energy's planned growth into renewable and waste-to-energy projects, diversifying its asset base while promoting sustainability across New Zealand.

Working alongside Simon was Partner Josh Cairns, Senior Associate Zelda Gower, Senior Solicitor Grace Dimond and Solicitors Latesha Metzler and Zac Cran.