In September 2009, Te Mana o Ngāti Rangitihi Trust joined with five other CNI iwi to establish Tukia Group Limited in order to implement the long-term commercial strategies developed by the collective. Te Mana o Ngāti Rangitihi Trust owns a 16.67 per cent shareholding in Tukia Group Limited, the same portion as each of the other five iwi shareholders of Tukia Group who are Ngāti Manawa, Ngāti Whare, Ngāti Tūwharetoa, Ngāi Tūhoe and Raukawa. Since then, Tukia has been identifying and evaluating investment opportunities particularly surrounding the creation of large-scale commercial enterprises in geothermal energy generation, forestry replanting and carbon management.

In late 2010, Tukia signed a Memorandum of Understanding with Mighty River Power regarding a proposed co-investment arrangement through GeoGlobal Energy LLC (GGE) in geothermal power projects outside Australia and New Zealand. GGE is a privately-held geothermal company focused on the worldwide development and acquisition of geothermal resources to generate base load, renewable, low-carbon electricity to meet the growing need for global renewable electricity. Among the other geothermal opportunities that have been progressed is the mandate given by the Lake Rotoaira Trust to Tukia to undertake and manage the initial development of the Tokaanu geothermal reserve. Tukia has also worked with land trusts and hapū in Tauhara and Northland to advance plans to develop their geothermal resources. Since our last balance date in 2010, Tukia has been appointed as the commercial management arm of the Tauhara hapū and has secured a binding agreement between Contact Energy, Tauhara hapū and Tauhara Land Trusts which sets up the parties to utilise the geothermal potential beneath the lands that they own. This is a precedent setting agreement which will enable Tukia shareholders, including Te Mana o Ngāti Rangitihi Trust, to participate in the development of this 250MW Tauhara/Wairākei field.

On the forestry front, Tukia has successfully concluded negotiations with Harvard Management Company and the New Zealand Superfund. The outcomes of these negotiations will enable the CNI iwi investors to participate as equal partners directly in the Kaingaroa replant and we have a three-year option. In light of the Emissions Trading Scheme, Tukia has also been working to safeguard the value of the collective’s allocation of NZUs, or carbon credits, under the Deed of Settlement, and to identify the commercial options. As part of a major joint venture, Tukia has launched an integrated carbon farming and associated services company in New Zealand – CO2 NZ. In terms of Tukia’s role in land management, successful Crown Forest License invoicing has been conducted and a number of reviews, evaluations and protocols have been submitted to CNI Iwi Holdings Limited. To read more about Tukia's background, click here.

Got a question?
If you have a question about our Commercial Investment or Business Development work, please contact us using the details below. You can also reach us on our Facebook Page or follow us on Twitter.

Te Mana o Ngāti Rangitihi Trust
3 Onewairere Place Matata
Phone / Fax: +64 7 322 2452
communications@ngatirangitihi.iwi.nz