Partnering to Support Local Growth
Our growth strategy means we are constantly looking for opportunities that offer long term revenue growh and allow us to increase the value we can provide to both the communities in which we operate and the owners of Electra – the customers connected to our electricity network. This strategy has seen us take large stakes in Connect 8 (50%) and Quail Ridge Country Club and its associated building company, Kerikeri Falls Investment Limited (49.9%). In 2020 the Group’s investment portfolio was further enhanced with a 25% stake taken in Horowhenua Developments Limited (HDL). HDL had purchased a block of non-core and underperforming vacant industrial land on Roe Street, Levin from Horowhenua District Council in 2019. In 2020 the property was consented, sub-divided and had infrastructure installed before being brought to market as the Horowhenua Business Park. Every lot was sold in under 18 months and construction is underway on several large-scale projects that will deliver long term benefits to the region. The development has created substantial economic and social opportunities for our region with local tradespeople employed for the development and build phases, as well as permanent employment for local people once the various businesses commence operations. The profits generated from The Business Park will be used to identify further opportunities to help grow the Horowhenua economy. As well as direct financial returns to the Group, the success of the venture will contribute to regional growth and increased demand on our network.