Contact Energy Limited (NZX: CEN) Contact & Genesis Announce Renewable Electricity Agreement

Contact Energy is set to supply Genesis Energy with renewable electricity for 15 years from 2025, as part of a new, long-term power purchase agreement after key terms were signed today.

The agreement will see Genesis take up to 62.5 megawatts of electricity, equating to 41% of the output capacity from Contact’s geothermal power station being developed at Tauhara. The 152-megawatt power station is under construction and expected to be completed in the middle of 2023.

The Contact/Genesis agreement will commence on 1 January 2025 and the financial details remain confidential.

Key terms of the agreement:

Start date 1 January 2025

Location Tauhara GXP

Price (Years 1–10) Fixed price at start date, escalating at CPI

Price (Years 11–15) Market linked within a collar

Volume Linked to actual Tauhara generation output. Years 1-10 up to 62.5MW (~500GWh p.a.). Volumes reduce over the final 5 years of the contract.

Please see the link below for details

Contact and Genesis announce long-term renewable electricity agreement

Source: Contact Energy Limited

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

KMD completes Placement and Institutional Entitlement Offer
SML - North Island asset sale completed
RAD - Radius Care Expansion Continues with Care Home Acquisition
PFI - Property for Industry Limited Bond Offer Final Terms Sheet
April 1st Morning Report
FSF - Fonterra completes sale of Mainland Group to Lactalis
GNE - Resignation of Chief Financial Officer
PFI - Property for Industry Limited Launches Bond Offer
March 30th Morning Report
HGH Ltd Results for the 6 months ended 1 February 2026