Todd Energy is building on an expanding retail customer base with consent for a $65 million LPG plant to supply 45 kilo gas bottles for household use.
Planned to produce 27,000 tonnes of LPG a year, the plant will be built at its McKee Production Station site in Taranaki, producing LPG (as a natural by-product of gas extraction) sourced from its Mangahewa and Pokohura fields.
It plans to deliver LPG through its 50,000 customer-strong retail company, Nova Energy, across the North and South Islands.
This year, Nova Energy signed up 6000 new customers for dual gas/electricity, taking a larger stake in the total Wellington electricity market with a ramped up door-to-door marketing effort.
Todd Energy is the largest electricity generator from efficient gas-fired co-generation facilities in New Zealand, located in Edgecumbe, Kapuni, Whareroa and New Plymouth, but managing director Richard Tweedie said using the new LPG plant to fire electricity generation would not be economically viable.
Mr Tweedie said the new LPG production site was ideal, as it would maximise existing infrastructure from the McKee plant with a low impact on the area.
“Todd Energy has over 50 years’ experience in the Taranaki energy industry and we consider Taranaki our home. We will certainly ensure all reasonable steps are taken to minimise the impact of the project.”
The company is in the process of finalising contractors for the project, which has already gained resource consent.
Other projects in the pipeline include a hydro project on the upper Kaituna River, potential wind farms and investigation into new tidal-generation technologies.