Central Lakes Trust grants surpass $155 million

Total grants awarded by the Central Lakes Trust have now exceeded the $155 million it was seeded with.

This significant milestone comes just a few weeks before the 24th anniversary of CLT’s inaugural board meeting on 6 December, 2000.

The Trust, which supports charitable causes across the region, was born out of the 1998 Electricity Reforms Act. Otago Central Electric Power Trust (OCEPT) sold its retail and lines business, putting the money into a charitable trust after agreement from the majority of consumers.

"The consumers who voted to settle the power company's assets in trust for the benefit of our regional community will undoubtedly feel, with justification, pleased with their foresight" says Peter Mead, chair of the founding board.

"CLT, by virtue of prudence and careful management, has delivered and grown in a manner and extent we can all be very proud of."

By settling the profits from the sale, as well as the generation business (now Pioneer Energy) to CLT, the OCEPT board created an asset that enhances the community and the lives of the people within.

In addition to the $155.2 million granted to support initiatives across the region, CLT has grown its investment fund to $495 million as of 31 March 2024.

Current chair, Linda Robertson says: "Our responsibility is to ensure the sustainability of the fund so that we can continue to make a lasting impact on our communities. By maintaining the trust in perpetuity, we ensure that generations to come will benefit from the support and opportunities these grants provide."

November awards include $1.5m for the Southern Lakes Trails Southern Lakes Trails Cycleways Construction Fund, $300k for the QLDC Sport and Recreation Coronet Trail Network Project, and $2,479 for the Otago Centre Incorporated Queenstown Pipe Band Championships 2025.

CLT has also announced that businessman Simon Flood, who recently became chair of Queenstown Airport Corporation board, has joined there board too.

Flood joined CLT's investment committee as an independent member back in January 2022, and was appointed as committee chair in August 2023.

“I have thoroughly enjoyed my time on the Investment Committee and look forward to being more involved in the greater operations of CLT,” Flood says.

CLT’s Chair Linda Robertson said that “Simon’s appointment followed a robust, externally facilitated selection process, which attracted a strong field of candidates. We are confident Simon will bring a wealth of knowledge and skills to the board table”.

He succeeds Hetty Van Hale, who stepped down after two terms on the Board.

“Hetty has been an exceptional leader and a dedicated advocate for our community," Robertson says.

"Her vision and unwavering commitment have had a profound impact, and we are deeply grateful for her mahi and the positive changes she has driven over her two terms. We wish her all the best in her future endeavours.”