News

Nga Awa Purua to sell 10 MW of geothermal power in tender

Nga Awa Purua plant construction site (source: Fuji Electric)
Alexander Richter 6 May 2010

The Nga Awa Purua Joint Venture is selling up to 10MW of its geothermal power station's output in a tender this month of baseload Contracts for Difference (CFDs).

In news from New Zealand it is said that “The Nga Awa Purua Joint Venture is selling up to 10MW of its geothermal power station’s output in a tender this month of baseload Contracts for Difference (CFDs).

In doing so, the venture co-owned by Mighty River Power and the Tauhara North No2 Trust said it was making a contribution to the liquidity of the wholesale electricity market.

The CFDs will be offered free of any force majeure restrictions, effective from July 1 for up to three years.

CFDs for 125MW output of the power station have previously been contracted to Mighty River Power to enable the trust to secure debt financing for their investment.

Interest is expected from major electricity generators, large industrial energy users, independent retailers and potential new entrants into the electricity market.

The tender deadline is May 26.

The $430 million Nga Awa Purua station, 14km northeast of Taupo, uses steam from the Rotokawa geothermal field. It features the world’s largest single shaft geothermal turbine and generates electricity sufficient to supply 140,000 homes.”

Source: National Business Review