Infrastructure

Explore the latest energy and fuel news by BusinessDesk. 

Waitomo foresees steady expansion beyond 2019
Gavin Evans | Tue, 14 May 2019

By Gavin Evans May 15 (BusinessDesk) - Discount fuel retailer Waitomo Group expects to open five to six new outlets annually as it builds out its national network. The Hamilton-based company yesterday opened its southern-most fuel stop in Upper Hutt. It will open an outlet...

Infratil, Brookfield to pay $2.06B cash and assume $1.34B of debt for Vodafone NZ
Rebecca Howard | Mon, 13 May 2019

By Rebecca Howard May 14 (BusinessDesk) -  Infratil and Brookfield Asset Management's $3.4 billion purchase of Vodafone NZ will see them each pay $1.03 billion for a 49.9 percent stake. The balance will come from taking on about $1.34 billion of Vodafone New Zealand's debt,...

Downer, Visionstream win $450M of Chorus maintenance contracts
Paul McBeth | Mon, 13 May 2019

By Paul McBeth May 14 (BusinessDesk) - Chorus has hired Downer EDI and Cimic Group's Visionstream to maintain its copper and fibre telecommunications network for the next three years at a cost of about $450 million.  The new contracts cut out Broadspectrum, which along with...

UPDATE: Infratil, Brookfield purchase values Vodafone NZ at $3.4 billion
Rebecca Howard | Mon, 13 May 2019

(Updates to add detail, financials in paragraph seven)  By Rebecca Howard May 14 (BusinessDesk) - Vodafone Group has sold Vodafone New Zealand to a consortium comprising Infratil and Canada's Brookfield Asset Management for an enterprise value of $3.4 billion, it said in a...

Jones defiant, apologetic over Provincial Growth Fund politics
Pattrick Smellie | Mon, 13 May 2019

By Pattrick Smellie May 13 (BusinessDesk) - Regional Economic Development Minister Shane Jones mixed defiance with apology for his handling of the Provincial Growth Fund during a briefing intended to demystify the process by which funds from the $3 billion fund are managed....

UPDATE: Trustpower well-positioned for volatile market, renewables development
Gavin Evans | Mon, 13 May 2019

(Updates with comment from CEO Hawksworth from third paragraph. Adds detail throughout.) By Gavin Evans May 13 (BusinessDesk) - Trustpower says a “material” volume of new generation will be required to meet demand during the next three years and wholesale prices are likely...

Synlait may have been too hasty on Pokeno plant
Jenny Ruth | Sun, 12 May 2019

By Jenny Ruth May 13 (BusinessDesk) - Synlait Milk has landed itself in a right pickle after a Court of Appeal judgment that renders its new Pokeno factory in breach of covenants restricting use of that land to grazing, lifestyle farming and forestry. Synlait jumped the gun...

OceanaGold seeks mining permit for new Coromandel operation
Gavin Evans | Fri, 10 May 2019

By Gavin Evans May 10 (BusinessDesk) - OceanaGold has sought a mining permit over its Wharekirauponga discovery in the Coromandel Forest Park. The deposit lies in the northern part of the 3,762 square-kilometre Hauraki exploration permit the company and its predecessors hav...

Infratil in talks to buy Vodafone NZ
Rebecca Howard | Thu, 09 May 2019

By Rebecca Howard May 10 (BusinessDesk) -  Infratil says it is in talks with another party to buy Vodafone Group's New Zealand business. Infratil, which is managed by Morrison and Co, was put on a trading halt by the New Zealand stock exchange. The stock last traded at $4.6...

First Gas eyes national energy centre for hydrogen pipeline trial
Gavin Evans | Thu, 09 May 2019

By Gavin Evans May 9 (BusinessDesk) - First Gas says a hydrogen pipeline trial it plans is likely to be among the first projects undertaken at the National New Energy Development Centre being set up in Taranaki. The company, which operates the trunk gas transmission network...

PM hints at wriggle room on KiwiBuild target of 100,000 homes
Pattrick Smellie | Thu, 09 May 2019

By Pattrick Smellie May 9 (BusinessDesk) - Prime Minister Jacinda Ardern added further weight to speculation that the government is preparing to shift the goalposts on its KiwiBuild initiative to build 100,000 affordable homes within 10 years. Speaking at the Just Transitio...

James Cameron sees a ruthless future without democracy or meat
Pattrick Smellie | Thu, 09 May 2019

By Pattrick Smellie May 9 (BusinessDesk) - Global demand for New Zealand's meat and dairy products is under threat as the world responds to climate change by eating more and more plant-based protein, Hollywood filmmaker James Cameron told the government's Just Transitions conf...

UPDATE: Tilt advances Waverley, withholds dividend
Gavin Evans | Thu, 09 May 2019

(Updates with company comment from seventh paragraph.) By Gavin Evans May 9 (BusinessDesk) - Tilt Renewables says it expects to execute an off-take agreement for the 130-megawatt wind farm it plans at Waverley within weeks. The Melbourne-based developer has been in talks...

Tilt advances Waverley project, withholds dividend
Gavin Evans | Wed, 08 May 2019

By Gavin Evans May 9 (BusinessDesk) -  Tilt Renewables says it expects to execute an off-take agreement for the 130-megawatt wind farm it plans at Waverley within weeks. The Melbourne-based developer has been in talks with Genesis Energy on the southern Taranaki project sin...

Govt opens low-carbon summit with $47M commitment to new energy research
Pattrick Smellie | Wed, 08 May 2019

By Pattrick Smellie May 9 (BusinessDesk) - The government will invest $27 million to establish a new energy centre in Taranaki as a gesture towards assisting the region's transition from a multi-billion dollar oil and gas industry to a low-carbon economy. Prime Minister Jac...

Mainzeal lawyers argue over $36 million penalty
Paul McBeth | Wed, 08 May 2019

By Paul McBeth May 8 (BusinessDesk) - Lawyers in the Mainzeal case were back in court today arguing whether the $36 million penalty handed down to directors of the failed construction company, including former Prime Minister Jenny Shipley, should attract up to six years' inter...

'Toothless' or ' alarming' - reaction to the Zero Carbon Bill
Pattrick Smellie | Wed, 08 May 2019

By Pattrick Smellie May 8 (BusinessDesk) - Reactions to the net zero carbon emissions legislation released today range from Greenpeace attacking it as "toothless" and "miserly" to Federated Farmers calling it "frustratingly cruel". Two key issues are at the heart of those a...

Pushpay appoints chairman Bruce Gordon new CEO
Rebecca Howard | Wed, 08 May 2019

By Rebecca Howard May 8 (BusinessDesk) - Digital church collection payment operator Pushpay said it has appointed board chairman Bruce Gordon as the new chief executive after Chris Heaslip resigned effective May 31.  Gordon, who will assume the role from June 1,  will also...

Pushpay lifts FY19 net profit; FY20 guidance upbeat
Rebecca Howard | Tue, 07 May 2019

By Rebecca Howard May 8 (BusinessDesk) -  Digital church collection payment operator Pushpay is upbeat about the coming year after lifting revenue by 40 percent and reporting a full-year net profit. The NZX-listed, US-headquartered software-as-a-service company, reported a...

UPDATE: Kernahan to leave Fletcher Building for Hall's Group
Jenny Ruth | Mon, 06 May 2019

(Updates with details of Kernahan’s new job from 2nd par and further details about her positions at Fletcher.) By Jenny Ruth May 7 (BusinessDesk) - Fletcher Building’s Michelle Kernahan is leaving the company at the end of July for a "new career challenge.” She is to be...

Pohokura work winding up
Gavin Evans | Mon, 06 May 2019

By Gavin Evans May 7 (BusinessDesk) - Maintenance work at the country’s biggest gas field is winding up, with China Oilfield Services’ Boss rig expected to start decoupling from the Pohokura production platform by tomorrow. That process means production from the field’s off...

Chch councillors rue govt funding pullback in successful $2.2B SCIRT programme
Paul McBeth | Mon, 06 May 2019

By Paul McBeth May 7 (BusinessDesk) - Christchurch city councillors were left ruing central government's decision to dial back its share of the largely successful $2.24 billion programme to rebuild and repair the city's horizontal infrastructure such as water pipes and roads. ...

UPDATE: Huawei calls for talks with GCSB minister on 5G
Nikki Mandow | Mon, 06 May 2019

(Adds GCSB comment from 20th paragraph) By Nikki Mandow May 6 (BusinessDesk) - Huawei has vigorously defended its right to be part of New Zealand’s 5G mobile network build at the China Business Summit in Auckland this morning. And it has called on GCSB Minister Andrew Littl...


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