Genesis in Talks to Extend Life of Huntly Power Station; Shares Rise 4%

MT Newswires Live

04/24

Genesis Energy (ASX:GNE, NZE:GNE) is in negotiations with industry partners to extend the operation of a third Rankine unit at its Huntly Power Station in New Zealand until around 2035, according to a Wednesday filing with the Australian bourse.

The unit is currently scheduled for retirement in January 2026, the filing said.

Discussions include potential joint funding of a coal reserve to ensure energy reliability during dry years, the filing added.

Shares of the company rose almost 4% in Australia and about 1% in New Zealand in recent Thursday trade.

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