Contact sells Otahuhu power station site to property developer

Sun, 14 Feb 2016

By Pattrick Smellie Feb. 15 (BusinessDesk) - Contact Energy has sold the site of its Otahuhu gas-fired power station to Auckland land developer Stonehill Property Trust for $30 million, following its closure last year. Once the jewel in the crown of Contact's generation portfolio, the combined cycle gas turbine generation plant on the site will be sold along with other plant and equipment over the next 12 months, with the proceeds split evenly between Contact and Stonehill, which will take possession this month. “We’re pleased to have...

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