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flag Genesis Energy raises $400M to grow, cut debt, and boost renewables, with NZ government investing $198M to keep majority stake.

flag Genesis Energy, a New Zealand power company, announced a $400 million capital raise—$100 million from institutional investors and $300 million via a rights issue—to support growth and reduce debt, following record half-year profits. flag The New Zealand government will invest $198 million to maintain its 51% ownership. flag Funds will advance renewable projects and flexible generation capacity under the "Gen35" strategy, with proceeds initially used to lower net debt. flag The move follows improved energy market conditions and a sector-wide agreement to manage the Huntly coal plant.

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