Beneficiaries of the Ngati Tuwharetoa (BOP) Settlement Trust include individuals who are:
At the highest level representing the interests of our Beneficiaries is the Ngati Tuwharetoa (BOP) Settlement Trust (the Trust). The Trust was established from its Deed of Settlement with the Crown and gives effect to a Treaty Settlement received in 2005. The Trust's main vision is to maintain and grow the assets of Ngati Tuwharetoa.
A total of seven elected Trustees are responsible overall for the group, assets, policy, distribution, Deeds of Recognition, and upholding the tribes role as a Kaitiaki over the Kawerau Geothermal Resource.
The Ngati Tuwharetoa Custodial Trustee Company Limited (NTCTCL) is a wholly owned subsidiary of the Trust and was established to manage the Cultural Assets arsing out of the Treaty Settlement. NTCTCL has seven Directors.
Responsibility for governing the commercial assets fall to three commercial entities: Ngati Tuwharetoa Holdings Limited (NTHL), Ngati Tuwharetoa Geothermal Assets Limited (NTGA) and Ngati Tuwharetoa Electricity Limited (NTEL). These commercial entities have Boards comprised of both Trustees and specialist Commercial Directors.
NTHL is a wholly owned subsidiary of Ngati Tuwharetoa (BOP) Settlement Trust and was established to hold and manage the Commercial Assets arising out of the Treaty Settlement.
NTGA is a wholly owned subsidiary of Ngati Tuwharetoa Holdings Limited and was established to hold and manage Geothermal Assets. The aquisition of Geothermal Assets from the Crown was a separate transaction to the Treaty Settlement. NTGA is currently the world's largest supplier of geothermal steam for industrial direct use.
This business complements the special association and history that Tuwharetoa in Kawerau have with the Geothermal Taonga.
NTEL is a wholly owned subsidiary of Ngati Tuwharetoa Geothermal Assets Limited and was established to hold and manage a geothermal power plant - TOPP1. This plant was previously owned by Norske Skog Tasman Limited. NTGA (above) already supplied the geothermal steam to the plant which is capable of generating 23 megawatts of electricity and therefore its recent purchase secures an electricity generated revenue.