Contact Energy Limited (COENF) has released an update.
Contact Energy Limited has announced the final commissioning of the Tauhara geothermal plant, a key component of their Contact26 decarbonisation strategy, and expects to increase dividends following the plant’s completion. The company is also progressing on other geothermal projects, including the Te Huka 3 plant and a replacement for the Wairakei A&B stations, which will contribute to a significant EBITDAF rise in FY25. Additionally, new long-term energy contracts are set to begin, supporting a phased dividend uplift to reward shareholders.
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