Genesis targeting 95% renewable electricity by 2035

Genesis targeting 95% renewable electricity by 2035
Old, but still useful – Huntly power station. (Image: Getty)
Pattrick Smellie
New Zealand’s only user of coal to produce electricity, Genesis Energy, unveiled a new strategy on Thursday that would see the company generating 95% of its output from renewable resources by 2035.However, it still sees coal, gas, and, in the future, possibly bio-mass and hydrogen continuing to fuel its thermal electricity generation plant at Huntly, where it is also proposing to progressively build battery storage of up to 400 megawatts (800 MW hours).The state-controlled, 49%-NZ stock exchange-listed generator retailer said it would be...

More Markets

Rocket Lab looks to raise up to US$500 million
Markets

Rocket Lab looks to raise up to US$500 million

The money will fund acquisitions and general corporate and working capital purposes.

The who’s who of NZME’s board hopefuls
Markets

The who’s who of NZME’s board hopefuls

Who are the players causing ripples in investor and media circles?

Duke pins recovery hopes on lower interest rates
Retail

Duke pins recovery hopes on lower interest rates

The Briscoe Group chief said he is ‘thrilled to bits’ with the full-year result.

NZSA waves red flags over NZME 'takeover by stealth'
Markets

NZSA waves red flags over NZME 'takeover by stealth'

Billionaire's bid to 'transfer control' of media company raises ire of NZSA.