New Zealand: Te Ahi O Maui Geothermal Plant Boosts Eastland Group Profits

Geothermal production drives record Eastland earnings, payout (Scoop.co.nz)

Te Ahi O Maui geothermal station
(Courtesy Eastland Group)

Eastland Group has returned a record $12.1 million to its community shareholding trust, boosted by earnings from the firm’s new geothermal plant at Kawerau.

Chief executive Matt Todd said the firm’s $137 million Te Ahi O Maui geothermal development at Kawerau was an important contributor to the result.

The 25 MW plant, developed in partnership with the A8D Ahu Whenua Trust, was connected to the grid in October, just in time to benefit from months of strong wholesale electricity prices.

“Combined with GDL, our other geothermal plant in Kawerau, Eastland Generation delivered $19.5 million towards our total income,” Todd said in a statement. That was more than twice the $7.7 million of revenue Eastland’s generation business delivered last year.

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From the Global Geothermal News archives:

• Friday, January 18, 2019 - New Zealand: Te Ahi O Maui Geothermal Power Could Reduce Power Bills by More than $300 a Year
• Friday, September 28, 2018 - New Zealand: 25 MW Te Ahi O Maui Geothermal Power Plant Enters Commissioning Phase
• Monday, September 19, 2016 - New Zealand: Production Well and Two Injection Wells Completed at Te Ahi O Maui Geothermal Project
• Monday, June 20, 2016 - New Zealand: Drilling Starts at 20 MW Te Ahi O Maui Geothermal Power Project
• Thursday, May 19, 2016 - New Zealand: Ormat to Build 20 MW Te Ahi O Maui Geothermal Project