Contact to raise $400m for Tauhara geothermal plant

Mon, 15 Feb 2021

Contact Energy will raise $400 million to help fund a 152 megawatt geothermal plant at Tauhara near Taupō and is running the rule over its suite of gas-fired power stations.The company lifted earnings before interest, tax, depreciation, amortisation and fair value changes 11 percent to $246 million in the six months ended Dec. 31, although it’s paying a smaller interim dividend of 14 cents per share, down from 16 cents a year earlier. Net profit rose 32 percent to $78 million.“There is no room for complacency as there is an ong...

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