Te Mihi plant pushes renewable generation of Contact Energy to 76 percent
According to Contact, the extended outage at the Te Mihi power plant has allowed them to improved the performance of the plant and provide energy at a lower cost
The energy company Contact has recently released a press release providing the latest updates of the company’s financial situation.
“We have integrated the Te Mihi geothermal power station into our generation portfolio increasing renewable generation from 68 per cent to 76 per cent of our total output. Work completed during an extended outage at Te Mihi has improved the performance of the plant to a level above the business case which, combined with improved availability across the remainder of the portfolio, is expected to further reduce our cost of energy” said Dennis Barnes, Contact Chief Executive.
Contact Energy is the second-largest electricity generation in New Zealand, with a market share of about 24% in 2014. The company is listed, with the majority held by Australian Origin Energy.
Source: Contact Energy