Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
An update from Mercury NZ ( (MGHTF) ) is now available.
Mercury NZ has completed a $220 million expansion of its Ngā Tamariki Geothermal Station near Taupō, adding a fifth generation unit that lifts the plant’s annual output to about 1,120GWh, equivalent to powering all residential homes in Christchurch. The new 55MW unit, more than twice the capacity of each original 2013 unit, underscores Mercury’s focus on geothermal as a pillar of its long-term growth strategy.
As part of the project, Mercury drilled new wells to increase steam supply and enable reinjection of geothermal fluids and non‑condensable gases, mainly carbon dioxide, back into the reservoir, targeting a 70% cut in the station’s carbon emissions by 2030. The expansion, alongside two wind farms under construction, forms part of a broader NZ$1 billion investment in new renewable generation that is expected to bolster grid resilience, support regional job creation and contribute to delivering 3.5TWh of additional generation by 2030, around 8% of New Zealand’s annual energy demand.
More about Mercury NZ
Mercury NZ is a New Zealand-based energy company generating electricity exclusively from renewable sources, including hydro, geothermal and wind. It also retails electricity, gas, broadband and mobile services, and is dual-listed on the New Zealand and Australian stock exchanges, with the New Zealand Government holding a controlling 51% stake.
Learn more about MGHTF stock on TipRanks’ Stock Analysis page.