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Renewables news

10 May 2011

Contact Energy to use equity for Te Mihi geothermal New Zealand electricity generator and distributor Contact Energy has launched a NZ$350 million ($280 million) equity entitlement offer to its existing share­holders. It plans to use the proceeds to strengthen its balance sheet and fund con­struction of the 166MW Te Mihi geother­mal plant. Contact has appointed Craigs Investment Partners/Deutsche Bank and Gold­man Sachs as underwriters of the issue, which is priced at NZ$5.05, or a 13.8% discount to Contact’s share price on 27 April, the day before its announcement. Contact has built up a specialisation in developing geothermal projects, and its Wairakei plant has been in operation for 50 years. Te Mihi is designed to eventually replace Wairakei, though the two plants will operate alongside each other for sev­er­al decades. The new plant will also dis­place the wastewater that Wairakei cur­rent­ly discharges into the Waikato river. Contact has been developing Te...

Latest Deals Database updates

Larkspur and Indigo Power Plants Refinancing Update date 17/06/2013
Sector Power > Gas-fired
Country North America > USA
Total Debt Loan Amount $m110
Status Signed
North-South II Transmission Project Update date 17/06/2013
Sector Power > Transmission/distribution
Country Latin America > Brazil
Total Debt Loan Amount $m253.83
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Sosa-Wonsi Update date 17/06/2013
Sector Transport > Rail
Country Asia > South Korea
Total Debt Loan Amount $m1371.5
Status Financial close

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