{"id":18809,"date":"2024-05-18T03:01:33","date_gmt":"2024-05-18T03:01:33","guid":{"rendered":"https:\/\/energybuzz.ph\/staging\/6915\/contact-energy-reevaluating-plans-for-wairakei-geothermal-development-new-zealand\/"},"modified":"2024-05-18T03:01:33","modified_gmt":"2024-05-18T03:01:33","slug":"contact-energy-reevaluating-plans-for-wairakei-geothermal-development-new-zealand","status":"publish","type":"post","link":"https:\/\/energybuzz.ph\/staging\/6915\/contact-energy-reevaluating-plans-for-wairakei-geothermal-development-new-zealand\/","title":{"rendered":"Contact Energy reevaluating plans for Wairakei geothermal development, New Zealand"},"content":{"rendered":"
\n

New Zealand utility company Contact Energy<\/a> is currently reevaluating its plans for a new geothermal power plant in the Wairakei field that sought to replace the aging Wairakei A and B geothermal power stations that had been operating since 1958<\/a>. Inflation of construction costs and a weakening of the local currency has increased the costs of the project substantially, prompting a review of its economics.<\/p>\n

First announced in 2022<\/a>, the GeoFuture strategic initiative proposed the construction of a new geothermal power plant near the existing Te Mihi station. This will increase the power generation capacity for the whole Wairakei field while allowing for the retirement of the Wairakei A and B power stations by 2031.<\/p>\n

With the numbers now being reevaluated, Contact Energy is considering several alternatives for the project to still proceed. One option is to extend the operations of the Wairakei A and B power plants while the project is developed with a phased approach. This will allow the project to still continue but with a reduced market and execution risk. There will, however, be some operational, regulatory, and capital requirements to extend the operations of the old power plants.<\/p>\n

The Contact Energy board has already approved an additional $30 million in capital for the project, which brings the total development cost to $144 million. The company states that an update on the Wairakei development plan will be provided at the full year 2024 results, which is expected in August.<\/p>\n

Contact Energy is also at the final stages of preparation for the commercial operations of the Tauhara geothermal power station.<\/a> The commissioning process for this project has already started.<\/p>\n

Source: New Zealand Herald<\/a><\/p>\n

The post Contact Energy reevaluating plans for Wairakei geothermal development, New Zealand<\/a> first appeared on ThinkGeoEnergy – Geothermal Energy News<\/a>.<\/div>\n","protected":false},"excerpt":{"rendered":"

\n

With now higher project costs, Contact Energy is exploring alternatives for the new geothermal project planned in the Wairakei field in New Zealand.<\/p>\n

The post Contact Energy reevaluating plans for Wairakei geothermal development, New Zealand<\/a> first appeared on ThinkGeoEnergy – Geothermal Energy News<\/a>.<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[12037,1573,4467,168,14670,14669,880,4561,17337,7490,17945,1182],"class_list":["post-18809","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-contact","tag-development","tag-energy","tag-for","tag-geo","tag-geothermal","tag-new","tag-plans","tag-reevaluating","tag-think","tag-wairakei","tag-zealand"],"yoast_head":"\nContact Energy reevaluating plans for Wairakei geothermal development, New Zealand - Energy Buzz<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/energybuzz.ph\/contact-energy-reevaluating-plans-for-wairakei-geothermal-development-new-zealand\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Contact Energy reevaluating plans for Wairakei geothermal development, New Zealand - Energy Buzz\" \/>\n<meta property=\"og:description\" content=\"With now higher project costs, Contact Energy is exploring alternatives for the new geothermal project planned in the Wairakei field in New Zealand. 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