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Genesis Energy Limited ( (DE:1G6) ) has shared an announcement.
Genesis Energy has signed a conditional 15-year power purchase agreement with Yinson Renewables to buy 70% of the output from the 94.6 MW Mt Cass Wind Farm near Waipara in Canterbury, due to start commercial operations in 2028. The project, which will be built, operated and dispatched by Yinson and connected to the MainPower network, is expected to generate more than 300 GWh of renewable electricity annually—enough to power about 40,000 homes—and will add significant new wind capacity to Genesis’s portfolio without requiring equity investment, while leaving open the option to participate in Yinson’s future wind developments. The deal fits Genesis’s capital management strategy of leveraging third‑party capital via PPAs alongside direct and joint-venture investment, supports its Gen35 growth pipeline of more than 2 GW of renewables and flexibility assets, and further strengthens its strategic partnership with Yinson as Genesis seeks to contribute to New Zealand’s wider energy sector decarbonisation.
More about Genesis Energy Limited
Genesis Energy Limited is a New Zealand electricity generator and retailer with a growing focus on renewable generation, including wind, solar, battery storage and geothermal offtake. The company aims to expand low-emissions electricity supply through a mix of direct investment, joint ventures and power purchase agreements while maintaining a BBB+ credit rating and funding its Gen35 pipeline of renewable and flexible generation projects.
For detailed information about 1G6 stock, go to TipRanks’ Stock Analysis page.