The biggest solar energy venture in New Zealand,  is another step closer.

Lodestar Energy wants to build five huge solar farms in the North Island.

They've now finished raising $300 million to make that happen.

Big names are backing the venture including Rod Drury, Sir Stephen Tindall and Sam Morgan.

Lodestone Energy Managing Director Gary Holden told Mike Hosking this is the right answer to make an impact with solar energy.

“You need to spread it out, you need to have diversity of locations coming into the grid at dozens of different locations so that the grid gets sort of optimised.”

The farms are near Kaitaia, Dargaville, Whitianga, Edgecumbe and Whakatane.

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