View news from   +  advanced search
You are here: Home Renewables news
Project Finance Copying and distributing are prohibited without permission of the publisher

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

Oving Solar Farm Update date 24/05/2013
Sector Renewables > Solar PV
Country Europe - EU > UK
Total Debt Loan Amount $m11.42
Status Signed
Mombasa Kwale Mining Project Update date 24/05/2013
Sector Mining/Metals > Coal
Country Africa > Kenya
Total Debt Loan Amount $m170
Status Financial close
Queensland Schools PPP Update date 24/05/2013
Sector Social Infrastracture/PPP/P3/PFI > Schools
Country Asia Pacific > Australia
Total Debt Loan Amount
Status Prequal

Most read in past 24 hours

  1. Cheniere cuts Sabine Pass pricing, nears close

  2. InterGen refinancing launches

  3. Emal 2 signs with ECAs

  4. Protests stall Mareña construction

  5. Qatar forms Nebras Power

  6. Indiana preps 1-69 RFQ

  7. Circle Oil plots RBL

  8. Ireland launches schools PPP bundles 4 and 5

  9. Five acquisition prospects for HICL Infrastructure

  10. Indonesia tenders oil and gas blocks

Change font size: Switch to default font size Switch to medium font size Switch to large font size
back to top

Home

Sectors

Data & People

My Account

Information

Event Diary


Deals Of The Year


Jobs


Directory


Supplements


Site Links


All material subject to strictly enforced copyright laws. © 2013 Euromoney Institutional Investor PLC.