Contact sells mothballed New Plymouth power station for $24 mln

Tue, 04 Dec 2012

Dec. 5 (BusinessDesk) - Contact Energy has sold its mothballed New Plymouth power station for $24 million to Port of Taranaki and Methanex New Zealand. The deal will see the council-owned port buy the majority of the site for $15.5 million, and Methanex a smaller chunk for $8.5 million, the Wellington-based energy company said in a statement. The agreement with the port gives Contact rights to repurchase part of the site if the power company wants to develop it for future power generation or gas infrastructure, and stops rivals from doing th...

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