25 May 2010

New geothermal power plant completed ahead of schedule

12:23 pm on 25 May 2010

Contact Energy says its $100 million Tauhara One geothermal power plant near Taupo has been completed, ahead of schedule.

The listed energy generator and retailer is investing $600 million to boost its generation business, with another $500 million on a peak power plant and underground gas storage field at Stratford.

But Contact is facing delays in getting a $250 million peaking power plant at Stratford up and running.

The company had hoped to have it fully operational next month, but now says it won't finishing testing the 200MW plant plant until October.

Contact says the $250 million Ahuroa underground gas storage field is on track to be completed by the end of the year.