Tauhara Geothermal Plant Achieves Major Milestone

Contact Energy (NZX: CEN) announced the successful completion of the 30-day reliability run of its new Tauhara geothermal plant, marking a significant step in the company's decarbonization strategy, Contact26. The plant ran continuously at around 152 MW, with successful testing at its target capacity of 174 MW. During final commissioning, Tauhara will operate at 130-135 MW while addressing vibrations in the steam separation section. Full operation at 152 MW is expected until further modifications in October 2025 secure long-term generation of 174 MW.

Additionally, Contact’s 51.4 MW Te Huka 3 geothermal plant is set to be operational in Q4 2024. The company plans to replace the Wairakei A&B geothermal station with a new 100 MW binary plant by mid-2027. With these developments, Contact anticipates a dividend increase from 35cps to 39cps phased over FY24 and FY25.

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