Ann: GENERAL: CEN: Contact unveils Te Mihi geothermal power...

• Release Date: 14/08/14 08:30
• Summary: GENERAL: CEN: Contact unveils Te Mihi geothermal power station
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					CEN
14/08/2014 08:30
GENERAL

REL: 0830 HRS Contact Energy Limited

GENERAL: CEN: Contact unveils Te Mihi geothermal power station

MEDIA RELEASE

For immediate release

Thursday 14 August 2014

Contact unveils Te Mihi geothermal power station

Contact Energy Limited (Contact) will today unveil its newest and most
advanced geothermal power station, the final stage of the Wair?kei Investment
Programme. Te Mihi ushers in a new era of efficiency and environmental
responsibility in the utilisation of the world class Wair?kei geothermal
resource.

"Te Mihi is a testimony to Contact's dedication to ensuring New Zealander's
energy needs are met in a safe, reliable and efficient manner. It also
represents a step into the future, helping provide renewable lower-cost base
load electricity to the market to power the homes and businesses in our
communities," says Contact CEO, Dennis Barnes.

"With two 83 MW steam turbines, the plant has been designed to make the best
use of steam and maximise capacity. A vast network of pipes connects Te Mihi
to the Wair?kei steamfield, increasing overall efficiency and generation
reliability. The Taup? region geothermal resource is large by international
standards, ranking 7th in the world with a combined gross geothermal
generation output of 431 megawatts across Contact's five power stations in
the region - enough to supply 400,000 kiwi homes."

Mr Barnes said that Te Mihi is the latest step in advancing New Zealand's
leadership position in renewable electricity generation, at a time when
internationally there is currently over 12,000 MW of identified geothermal
generation capacity to be developed.

"Renewable assets on a scale as large as our Taup? steamfield operations are
rare around the world. Besides the clear environmental benefits, these long
life assets offer strong cash flow for investors that can be sustained over
the long-term. Provided a stable and supportive policy and regulatory
environment is maintained Contact and its shareholders will investigate
further geothermal investment in New Zealand's electricity market when market
conditions dictate."

"I want to acknowledge the many people and contractors who were involved in
this development. Over the course of building Te Mihi, through joint venture
partners McConnell Dowell Constructors Ltd, SNC-Lavalin Constructors Inc and
Parsons Brinckerhoff, we have employed over 500 contractors, developed
homegrown expertise and intellectual property, and contributed approximately
$60 million to our New Zealand communities."

Te Mihi will be officially opened this afternoon by Deputy Prime Minister,
Honourable Bill English, at a ceremony to be attended by over 150 people,
including local dignitaries, stakeholders and tangata whenua.

"We are pleased to welcome Te Mihi into Contact's geothermal family. This
flexible, fully integrated power station ensures that we can continue to
efficiently meet the energy needs of New Zealanders today and into the
future."

ENDS

About Contact
Contact is one of New Zealand's largest electricity generators and retailers.
We keep the lights burning, the hot water flowing and the BBQ fired up for
around 566,000 customers across the country.  Powering the country with
electricity, natural gas and LPG, our team of around 1,100 lives, works and
operates in communities throughout New Zealand.  www.contactenergy.co.nz

Media enquiries: Shaun Jones 021 204 4521 / Rachel Benton 027 421 9111

Investor enquiries: Fraser Gardiner 021 228 3688
End CA:00253830 For:CEN    Type:GENERAL    Time:2014-08-14 08:30:08