Contact Energy Takes Full Ownership of King Country Energy

MT Newswires Live

Apr 17

Contact Energy (ASX:CEN, NZE:CEN) has purchased the remaining roughly 25% interest in King Country Energy to take full ownership of the renewable energy firm, according to a Friday filing with the New Zealand bourse.

The consideration of NZ$47 million was paid to the trustees of King Country Trust through the issuance of about 5 million new Contact Energy shares, per the filing.

The purchase includes five North Island hydropower stations that have a combined installed capacity of around 53 megawatts and an average expected annual generation of roughly 190 gigawatt-hours.

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