Contact Energy reconsiders geothermal plant near Taupō due to rising costs, weak NZ dollar.

Contact Energy is reconsidering its plans for a new geothermal plant near Taupō due to rising costs and a weak NZ dollar. The company had planned for the new plant, scheduled to come online in 2027, to replace the existing 1950s-built Wairākei power station. Since the project's initiation, construction costs have increased, and the company has decided to reassess development options in light of the escalating costs.