Downer Awarded NZ$600m Contract with Powerco

GENERAL

Mon, Mar 31 2025 08:56 am

Media/ASX and NZX Release
31 March 2025
DOWNER AWARDED NZ$600M ELECTRICITY FIELD SERVICES CONTRACT WITH POWERCO

Downer EDI Limited (Downer) today announced it had been awarded an Electricity Field Services Agreement with New Zealand energy distribution company, Powerco, valued at approximately NZ$600 million (AU$540 million) over a maximum term of 12 years.

The contract commences on 1 July 2025 and is for an initial period of five years (valued at approximately NZ$250 million), with provisions for extension options for a further seven years (taking the total value if all extensions are exercised, to approximately NZ$600 million).

Under the contract, which replaces Downer’s current field services work with Powerco, Downer will provide maintenance, minor capital works and fault repair services across two regions of Powerco’s electricity distribution network on New Zealand’s North Island.

The Chief Executive Officer of Downer, Peter Tompkins, said this further showcases Downer as a leader in the delivery of power distribution network services.

“This long-term contract reflects Downer’s strong and reliable performance for Powerco over more than a decade,” Mr Tompkins said.

“It strengthens our position as a market leader in New Zealand’s Utilities sector, and is a strong endorsement of Downer’s proven track record to help our customers provide cost-effective, safe and reliable energy for our communities.

“We look forward to furthering our partnership with Powerco, and leveraging our capability to continue supporting their commitment to contribute to a lower carbon world.”

Authorised for release by Downer’s Chief Executive Officer, Peter Tompkins