Contact Energy to spend $30M on geothermal appraisal wells

Wed, 29 May 2019

By Rebecca Howard May 29 (BusinessDesk) - Contact Energy will spend $30 million on a series of appraisal wells on Taupo's Tauhara geothermal steamfield as it builds towards a final investment decision for a new power station in 2020. The drilling programme - involving four appraisal wells - will commence in August and be completed in early 2020, it said. The bulk of the $30 million will be spent in New Zealand. “A potential new geothermal power station at the foot of Tauhara Maunga is New Zealand’s cheapest and most attractive option...

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