The latest update is out from Contact Energy Limited ( (COENF) ).
Contact Energy’s proposal for the Southland Wind Farm has been declined by the Expert Consenting Panel, posing a significant challenge to New Zealand’s decarbonisation efforts and the company’s mission to enhance electricity supply security. Despite having the support of various local and national bodies, the decision represents a setback for renewable energy investment, which is crucial for reducing reliance on natural gas and providing clean, affordable electricity. The project, which promised economic benefits and job creation, can be appealed to the High Court on legal grounds.
More about Contact Energy Limited
Contact Energy Limited is a key player in the energy industry, focusing on renewable energy generation. The company is dedicated to improving electricity security and supporting New Zealand’s economic development through sustainable energy solutions.
YTD Price Performance: -2.77%
Average Trading Volume: 1,899
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $4.04B
Learn more about COENF stock on TipRanks’ Stock Analysis page.