NZ: Top Energy reports increased annual revenues from Ngawha geothermal plant
Small utility on the North Island of New Zealand reports increased revenues from its 25 MW Ngawha geothermal power plant and expects even more with expansion plans.
Top Energy, a local electricity generation and lines network company servicing 30,000 electricity consumers on the North Island of New Zealand, has been operating the Ngawha geothermal power plant since 1998. With an installed capacity of currently 25 MW it plays an important role in the supply of electricity, with around 70% of all electricity consumed in the far North of the North Island.
The company is planning a further expansion at the existing plant, by building two new 25 MW plants. The first plant could be commissioned in 2023.
Reporting on its financial results for the past year, the company reports a revenue increse of NZ$800,000 for the year, despite a planned extensive annual maintenance outage and an annual plant availability of 96.6%.
With the ongoing expansion work, revenues from its geothermal business could increase even further.
Source: NZ Herald