Lightyears Solar - Refinance and Restructure

Greenwood Roche advised Lightyears Solar on the multi-stage restructuring and refinancing of its distributed solar generation portfolio, supporting the continued roll‑out  of community-scale solar farms across Aotearoa New Zealand.

The transaction involved refinancing the group’s existing debt facilities with Australian renewables lender Infradebt, replacing previous funding provided by New Zealand Green Investment Finance (NZGIF). The new funding supports an operating portfolio of 27MW of solar generation capacity, split across five solar farms, with additional projects under construction and in the development pipeline.

Prior to the restructure, all generation assets were held within a single asset-owning entity. Greenwood Roche advised on the transition to a project‑level asset and financing structure to meet lender requirements, ring‑fence project risk, and align with market‑standard project finance arrangements. This restructuring establishes a scalable platform capable of supporting future investment, construction and growth.

Lightyears' momentum has also been recognised nationally, with the company recently ranking 21st in the Deloitte Fast 50, highlighting its outstanding growth and emergence as a leading force in distributed solar infrastructure. The successful close of the transaction further positions Lightyears as a market  leader in the development, ownership and operation of distribution‑connected, dual‑use solar farms, helping accelerate New Zealand’s transition to a low‑emissions energy future.