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Genesis Energy signs 20-year deal with New Zealand wind farm
- 5 years ago (2019-05-17)
- David Flin
New Zealand’s biggest retail power company, Genesis Energy, has announced that it will buy the energy from the planned Tilt Renewables wind farm in South Taranaki. The two companies have struck a 20-year deal, which will underpin the 31-turbine wind farm at Waverley. The two companies have a long-term agreement to develop more renewable energy.
E-World 2025
Genesis said the deal would boost the supply of renewable energy, as the economy looked to decarbonise industry and reduce carbon emissions.
Marc England, Chief Executive of Genesis Energy, said: “The Waverley Wind Farm comes at a price that is competitive with other forms of baseload electricity, which is particularly important as we meet demand from the transport and industrial heating sectors looking to electrify in the coming years.”
Genesis operates the coal- and gas-fired Huntly power station, which is used to underpin national power supplies when hydropower generation is hit by low lake levels, or other interruptions such as the recent problem with gas supplies.
Construction of the Waverley wind farm is expected to start in the next 6-9 months. It will generate about 130 MW.