
Contact gets gas to run TCC this winter
Contact Energy has agreed to buy gas from Methanex to run its 330MW Taranaki Combined Cycle generation plant this winter.
In a statement to the NZX, Contact said it would buy about 2.8PJ of gas over eight weeks, starting immediately.
'In light of the lowest first-quarter national hydro inflows on

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National Business Review
2 days ago
- National Business Review
Aussie PE firm seeks ComCom clearance to acquire Metroglass
Australian private equity firm Crescent Capital Partners is seeking regulatory approval to acquire NZX-listed Metro Performance Glass despite the company rejecting its previous offer. The Commerce Commission this morning said it had received an application from Viridian NZ BidCo Ltd, an entity which


Scoop
2 days ago
- Scoop
Christchurch Airport Announces International Green Airports Award
Christchurch Airport has been named the Platinum Category Winner of the Airports Council International's Green Airports Recognition 2025, recognising the airport's leadership in building a clean energy future through its solar farm Kōwhai Park. The airport was one of only four airports globally to receive Platinum recognition, the award celebrates the airport's role in establishing a major joint venture between Contact Energy and Lightsource bp to develop Kōwhai Park solar farm, currently under construction on the airport campus. With 300,000 panels across 230 hectares, the project will generate enough renewable energy to power the equivalent of 36,000 homes. Kōwhai Park is the cornerstone of the airport's wider ambition to create a clean energy hub that supports decarbonisation across the region and helps others meet their sustainability goals. Airport Chief Executive Justin Watson says the Airports Council International recognition reflects the airport's long-term commitment to sustainability. 'Kōwhai Park shows what's possible when you combine vision with the right partners. Contact Energy and Lightsource bp bring world-class expertise, and this partnership is creating something we can all be proud of.' Construction started this week with first piles to hold the solar panels being placed in the ground. Kōwhai Park's first stage is just the beginning of a long-term plan to support renewable energy projects such as green hydrogen and storage technologies. The award also acknowledges other key sustainability milestones, including the arrival of New Zealand's first fully electric fire truck and the airport's Level 5 Airport Carbon Accreditation (ACA) status. Sustainable Transition Leader Claire Waghorn says the airport is proving that even critical emergency services can be powered sustainably. 'We're building a future where safety and sustainability go hand-in-hand. We're proud to lead the way and we are delighted to be able to announce this award on World Environment Day.' As the Southern Hemisphere's only Level 5 ACA airport, Christchurch Airport continues to set the standard for climate leadership in the aviation sector. The airport's commitment to people, planet and place reaches far beyond energy generation. It includes real and measurable action across climate, biodiversity, circularity, water conservation and sustainability leadership. Smart, electric mobility: The airport has introduced a new suite of high efficiency charging stations dedicated to powering electric ground service vehicles. These vehicles, used to tow luggage containers and push back aircraft, now operate with lower emissions, reduced noise, and improved energy use, supporting cleaner operations where it matters most. Hydrogen innovation: In partnership with Fabrum, we've also established an airport world-first hydrogen test facility at Kōwhai Park to support the development of green hydrogen technologies for aviation and beyond, further cementing Christchurch's role as a hub for clean energy leadership. Cleaner aircraft turnaround: Thirteen of the airport's 15 aircraft gates are now equipped with direct power connections, allowing aircraft to plug in while parked instead of using diesel generators or their own auxiliary power units. This reduces fuel use, cuts emissions, and improves air quality. Resource Recovery: The airport's award-winning sorting station processes waste generated in the domestic terminal. It has significantly reduced the waste sent to landfill, showing how better design and smarter systems can drive real environmental results. EV leadership: The airport precinct is home to one of the South Island's biggest EV charging hubs, and the airport's entire corporate fleet is electric. Global knowledge sharing: Our team is helping shape the global conversation on climate action and Claire Waghorn, our Sustainable Transition Leader, presented Christchurch Airport's sustainability approach to more than 800 delegates at the ACI World General Assembly in Riyadh. Wildlife protection: Over 500 native lizards were safely relocated from the Kōwhai Park construction site to a custom-built habitat on airport-owned land, supported by 20,000 native plantings and predator-proof fencing. Bird conservation: In collaboration with the South Island Wildlife Hospital, at-risk bird eggs are rescued from airside areas, incubated, hatched, and released into the wild, helping native species like the Banded Dotterel and Pied Oystercatcher thrive. This award is another milestone on our journey, and we're excited to keep pushing the boundaries of what's possible for sustainable aviation.


Otago Daily Times
4 days ago
- Otago Daily Times
Pacific Edge raises $16m in share sale
Pacific Edge has raised $16 million in new equity in a placement of new ordinary shares — $1m more than it sought — after accepting over-subscriptions. On Friday, the cancer diagnostics company announced a $20m capital raise, saying it was about ensuring it had the cash reserves to capitalise on recent clinical and commercial milestones, grow in non-Medicare channels in the United States and regain Medicare coverage of its tests. It comprised a placement of $15m of new ordinary shares offered to selected investors and an offer of $5m of new shares to retail investors, by way of a share-purchase plan. The share issue was priced at $0.10 per share. Yesterday, the company said the placement — which was well-supported by existing shareholders — was completed on Friday and was subject to shareholder approval. It was now targeting the opening of a $5m offer to eligible retail investors at the same per share offer price in July or early August, with the ability to accept oversubscriptions. In a statement to the NZX, chairman Chris Gallaher said the company was delighted with the investor support it had received. The inclusion of Cxbladder in the American Urological Association's (AUA) new microhematuria guideline in February was significant and had allowed the company to view the non-coverage determination differently. "We are leveraging the important AUA guideline to build on the commercial momentum we have already established, including our plans to regain Medicare coverage," he said. Medicare coverage of the company's tests ceased after the Local Coverage Determination (LCD) became effective on April 24. In a note on Pacific Edge's FY25 financial result also released on Friday, Forsyth Barr analysts described it as "relatively uneventful". Revenue was consistent with the firm's expectations and costs were slightly higher than expected. Despite Pacific Edge being adamant for some time it had sufficient cash resources to navigate the LCD uncertainty, the analysts were not surprised by the capital raise. It was the company's 11th equity raise since 2003 — cumulative raises totalled more than $260m — which would take its share count to more than 1billion from just under 10million in 2004. Post-raise, its cash balance would be about $38m ($22.6 million at FY25) and the analysts estimated that was 16 to 18 months of cash on hand. "While this is a supportive lifeline, even in the event of [Medicare] recoverage, we aren't convinced this is the last of PEB's raises," they said. s