NZ's Contact Energy rises on battery project development plans

Contact Energy

01/07/2024 03:58

** Shares of Contact Energy  CEN.NZ  rise as much as 1.6% to
NZ$9.140, their highest level since June 19 
    ** Energy co says it will build a 100MW grid-scale battery
project in Glenbrook, near Auckland, New Zealand
        ** Says project is expected to cost up to NZ$163 mln
($99.4 mln) and will be operational in Q1 2026
    ** Tesla  TSLA.O  selected to supply battery energy storage
system and provide commissioning and long-term maintenance
services for the project - CEN
    ** CEN adds, it is advancing plans for investment in new
intermittent renewable energy generation across New Zealand 
    ** Stock up 12.4% YTD, as of last close 
   


($1 = 1.6402 New Zealand dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))