Contact Energy (ASX:CEN): Fast-tracks new projects with capital raise

Contact Energy (ASX:CEN) has announced a $449 million equity raise to fast-track new battery, solar and geothermal projects as part of its Contact31+ renewable growth strategy, positioning the company as a leader in New Zealand’s energy transition.

🔋 Funds will support major developments including a new large-scale battery, a solar farm joint venture, and further geothermal expansion, strengthening New Zealand’s renewable energy supply.
🌿 The Company delivered a strong half-year result, driven by higher renewable generation and the successful acquisition and integration of Manawa Energy, with expected cost synergies already secured.
⚡ With renewable generation now making up nearly all of its output, Contact continues positioning itself as a leader in clean energy while investing to improve energy security and manage inconsistency risk.

Contact Energy CEO Mike Fuge commented:
“1H26 was transformational, with the completion of the Manawa acquisition and the welcoming of its people and assets to Contact. The strong performance of the combined entity set us up well for the year ahead as we take significant steps to execute the Contact31+ strategy.”

ASX announcement ⚡ https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-03056520-2A1653607&v=undefined

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