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Genesis Energy Limited ( (DE:1G6) ) just unveiled an update.
Genesis Energy Limited reported an improved Q2 FY25 performance, driven primarily by its Huntly portfolio’s 1,200MW generation capacity and increased renewable energy sources. The commencement of the Lauriston solar farm and the Tauhara Geothermal PPA underscores Genesis’ strategic shift towards renewable energy, enhancing its operational flexibility and reducing carbon emissions by 65% compared to the previous corresponding period. Additionally, the company’s retail customer base grew by 4.7%, bolstered by the acquisition of Ecotricity and growth in its Frank brand. The company also reported an increase in gas netback and concluded a gas purchase agreement with Methanex. Despite a temporary production interruption at the Kupe field, Genesis continued to advance its Gen35 strategy, highlighted by its complete acquisition of Ecotricity and ongoing commissioning of the Lauriston solar farm.
More about Genesis Energy Limited
Genesis Energy Limited is a diversified energy company based in New Zealand. It offers electricity, natural gas, and LPG through its retail brands, Genesis and Frank, and is a significant player in the New Zealand energy retail market, serving approximately 500,000 customers. The company operates a mix of thermal and renewable generation assets and holds a 46% stake in the Kupe Oil and Gas Field.
YTD Price Performance: -2.56%
Average Trading Volume: 800
Technical Sentiment Consensus Rating: Hold
Current Market Cap: €1.3B
See more insights into 1G6 stock on TipRanks’ Stock Analysis page.
