Contact Energy to Fund $475 Million Geothermal Project
This article is for subscribers only.
Contact Energy Ltd., New Zealand’s biggest publicly traded energy company, plans a rights offer to help fund a NZ$623 million ($475 million) geothermal generation project on the central North Island.
The company today signed an engineering procurement and construction contract for the 166-megawatt Te Mihi project, Wellington-based Contact Energy said in a statement. The rights offer will be in the near term, it said, without providing further details. There will also be debt funding.