BUZZ-NZ's Contact Energy rises on battery project development plans

Reuters
2024.07.01 02:58
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Shares of Contact EnergyZ) rise as the company announces plans to build a 100MW grid-scale battery project in New Zealand. The project, expected to cost up to NZ$163 million, will be operational in Q1 2026. Tesla has been selected to supply the battery energy storage system. Contact Energy is also advancing plans for investment in renewable energy generation across the country. The stock is up 12.4% YTD.

Shares of Contact Energy (CEN.NZ) rise as much as 1.6% to NZ$9.140, their highest level since June 19

Energy co says it will build a 100MW grid-scale battery project in Glenbrook, near Auckland, New Zealand

Says project is expected to cost up to NZ$163 mln ($99.4 mln) and will be operational in Q1 2026

Tesla (TSLA.O) selected to supply battery energy storage system and provide commissioning and long-term maintenance services for the project - CEN

CEN adds, it is advancing plans for investment in new intermittent renewable energy generation across New Zealand

Stock up 12.4% YTD, as of last close ($1 = 1.6402 New Zealand dollars)

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