Press Release – Loomis-ISC
Hawaii-based Innovations Development Group [IDG] is pleased to announce that it has been approved as a “foreign” corporation by the New Zealand Government’s Overseas Investment Office and is poised to commence a joint venture partnership with the …
Hawaii’s Innovations Development Group Tapped for Major New Zealand Geothermal Project
“Native to Native” model can help Hawaii too
HONOLULU, Hawaii (April 28, 2011) – Hawaii-based Innovations Development Group [IDG] is pleased to announce that it has been approved as a “foreign” corporation by the New Zealand Government’s Overseas Investment Office and is poised to commence a joint venture partnership with the Eastland Group and a native Maori land Trust of New Zealand. IDG was awarded the exclusive rights to develop the Maori land Trust’s geothermal resources in January 2008 and engaged Eastland Group of Gisborne, NZ, in August 2010 as the technical and financial partner.
The transaction was structured around IDG’s proprietary Native-to-Native (N2N) community-based development model. The first phase of the project’s proposed 50 MW plus project is intended to begin construction soon.
“It’s taken time and trust to get to where we are: ready to begin geothermal development in New Zealand. The very name of the project, Te ahi o Maui, calls to mind the mythology and close cultural ties that connect us as a Polynesian people. Maori Trust leaders will only accept developments on Trust land that are ecologically, economically and culturally sustainable,” says IDG CEO Patricia Brandt. “They believe our involvement helps ensure this.”
Community Perspective Replaces Past Opposition
Though opposed to Hawaii geothermal projects in the past because of the absence of efforts to address community needs and rights, IDG executives say that today, less intrusive technologies, clean technology, culturally sensitive protocols based on judicially established rights, and a genuine community-oriented perspective make geothermal a viable energy alternative. They believe that Hawaii can learn from the New Zealand project.
“Native Hawaiians, like the Maori and many other indigenous people around the world are resource-rich but concerned about exploitation,” says IDG Indigenous and Community Advisor Mililani Trask. “IDG brings access to capital and technical expertise in a highly specialized field to guarantee that development on native peoples’ lands benefits the native, local community and our larger society.”
Native-to-Native Model Delivers Fair Return to All
According to IDG’s Senior Advisor Robbie Le’a Kapi’olani Cabral, the company has become internationally recognized for its Native-to-Native business model of sustainable development.
The complex joint venture agreements IDG negotiated on behalf of the Kawerau Trust ensure significant returns to all stakeholders. The project will deliver economic growth and job creation while respecting the cultural values of the Maori people. Project investors can count on fair profits and New Zealand will enjoy enhanced renewable energy production to meet its growing need for electricity.
“We put into place a structure that ensures the training, employment and substantive participation of the Maori people in the development of resources which are theirs through the status of the land as a taonga (treasured asset). Every beneficiary of this development has whakapapa or genealogical ties to the land,” said Cabral. “We structured the deal to protect those rights while delivering a generous return to investors and long term energy diversification for the country, ” she added.
This concept has now been used with other Maori land trusts and incorporations working with IDG in the energy sector of New Zealand.
Ideal for Hawaii too
“The N2N model forms the basis in dealing with native stakeholders while embracing the larger society as a community-based development which is ideal for Hawaii,” adds Brandt. “Using it, we can build a more sustainable energy future for Hawaii in a way that protects our land [aina] and cultural traditions, compensates the community fairly and reduces our dependence on foreign oil. It’s an approach that benefits the state and provides income and jobs at a time when both are desperately needed,” said Brandt. “We hope the state will partner with us and embrace a model for geothermal development whose time is now.”