More renewable investment for Contact energy
$300m geothermal expansion announced in ‘solid’ trading result.
Contact Energy chief executive Mike Fuge.
Contact Energy has announced a $300 million investment to build a new 51.4MW geothermal power plant at Te Huka near Taupo as the company prepares to close gas-fired plants at Te Rapa and Stratford in Taranaki.
The announcement was made as Contact reported net profit for the year to June down 2.7% to
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