The Government is aiming to bolster our geothermal supply.

It announced $50 million in new funding, with $23 million has been committed so far – including two $10 million loans for new plants near Rotoma and Kawerau. 

The aim is to cut upfront risk whilst doubling generation by 2040.

Contact Energy CEO Mike Fuge told Mike Hosking that New Zealand is a world leader in geothermal, and if we can maintain that edge, that’s a good thing. 

He says what excites them is the potential growth in the electricity market, which could supply new industries and attract new investment. 

LISTEN ABOVE 

The Government is aiming to bolster our geothermal supply.
It announced $50 million in new funding, with $23 million has been committed so far – including two $10 million loans for new plants near Rotoma and Kawerau.&nbsp;
The aim is to cut upfront risk whilst doubling generation by 2040.
Contact Energy CEO Mike Fuge told Mike Hosking that New Zealand is a world leader in geothermal, and if we can maintain that edge, that’s a good thing.&nbsp;
He says what excites them is the potential growth in the electricity market, which could supply new industries and attract new investment.&nbsp;
LISTEN ABOVE&nbsp;

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Open your mind to the world with New Zealand’s number one breakfast radio show. Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda. The sharpest voice and mind in the business, Mike drives strong opinion, delivers the best talent, and always leaves you wanting more. The Mike Hosking Breakfast always cuts through and delivers the best daily on Newstalk ZB.

Open your mind to the world with New Zealand’s number one breakfast radio show.

Without question, as New Zealand’s number one talk host, Mike Hosking sets the day’s agenda.

The sharpest voice and mind in the business, Mike drives strong opinion,...

The Mike Hosking Breakfast

Mike Fuge: Contact Energy CEO on the Government's $50 million investment in geothermal

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/a8f30ed2-16aa-4728-b360-b4100147916b/transcript