Downer enters New Zealand transmission market

DOWNER ENTERS NEW ZEALAND TRANSMISSION MARKET

Downer EDI Limited (Downer) announced today it had been awarded a new Regional Service Contract by Transpower to deliver transmission services to New Zealand’s national electricity grid.

The contract begins in August 2022 with an initial five-year term, with a further extension option of up to five years.

The Chief Executive Officer of Downer, Grant Fenn, said the contract signalled Downer’s entry into the New Zealand power transmission market.

“This is an important strategic win for Downer,” Mr Fenn said.

“Downer is the market leader in power transmission services in Australia, and we are very pleased to extend this into New Zealand.”

Under the contract, Downer will deliver transmission services including grid maintenance, station operating services, fault call out response, and minor capital project works across the central North Island. In addition, Downer has also been appointed to contestable work panels, which will provide an opportunity to deliver major grid investment projects outside the Regional Service Contract.

The initial five-year contract is expected to generate revenue to Downer of approximately $100 million.

The Chief Executive Officer of Downer New Zealand, Steve Killeen, said the services delivered under the contract would assist New Zealand’s transition to a highly electrified, low-emissions future.

“The national electricity grid will play an important role in New Zealand’s decarbonisation pathway,” Mr Killeen said. “We look forward to partnering with Transpower to deliver services that will meet the needs of their customers now and into the future.”

Authorised for release by Downer’s Chief Executive Officer, Grant Fenn.

For further information please contact:
Media: Mitchell Dale, Group Manager Corporate Affairs +61 448 362 198
Investors: Adam Halmarick, Group Head of Investor Relations +61 413 437 487

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Announcement PDF