Green Energy Pivot

Solar Farms Move Toward Final Construction

Genesis Energy gave the green light to build the Tihori solar farm (136 MW capacity) and Leeston solar farm (70 MW capacity), bringing both projects closer to shovels in the ground Kalkine. The company is investing NZ$125 million in Leeston alone and separately acquired the Rangiriri solar farm (271 MW capacity), expanding its renewable portfolio significantly.

The Foxton solar farm (220 MW capacity) also cleared a major hurdle by receiving Fast Track consent, adding another renewable asset to Genesis's five-year investment plan of around NZ$3 billion Kalkine. These projects help the company reduce its reliance on thermal generation and lower average electricity production costs.

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Huntly Battery Set to Transform Grid Flexibility

Genesis Energy's Huntly Battery Energy Storage System is on track for full operation by September 2026, with Stage 1 commissioning already underway Kalkine. The second phase (100 MW / 200 MWh) has already reached final investment decision, allowing the company to store excess renewable energy and release it when demand peaks.

This battery shifts Huntly's role from a traditional coal-fired power station into New Zealand's grid stabiliser in a renewable-heavy energy system Kalkine. The storage capability pairs directly with Genesis's expanding solar and wind assets to ensure reliable electricity supply.

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Long-Term Power Contracts Lock in Generation

Genesis Energy secured a 15-year power purchase agreement for 70% of the Mt Cass Wind Farm (95 MW), guaranteeing about 210 GWh annually starting FY29 Kalkine. A separate five-year contract covers 53% of Ngāwhā Geothermal output (32 MW), delivering roughly 135 GWh per year from January 2029.

These long-term deals provide revenue certainty while the company transitions its generation mix Kalkine. Genesis lifted its dividend to 14.88 cents per share and endorsed a dividend reinvestment plan with a 2.5% discount, rewarding shareholders through its renewable growth period.

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Customer Programs Gain Momentum in EV and Solar

Genesis Energy's customer engagement programs expanded significantly, with EV Plan customers jumping 43% to roughly 17,000 and solar-plan customers growing 12% to about 34,000 Kalkine. These offerings help Genesis deepen ties with retail customers while promoting cleaner energy adoption across New Zealand.

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