Govt Loans $20m for Geothermal Power Projects: 'Energy Security Is Paramount'

Govt loans $20m for geothermal power projects: 'Energy security is paramount'

Projects exploring potential new geothermal power station sites in the Bay of Plenty will receive a $20 million Government loan. Regional Development and...

Geothermal loans to unlock potential for two new power stations

140 construction jobs expected as geothermal projects receive funding boost.

RIF funding underpins geothermal sector

The Government has ringfenced $50 million from the Regional Infrastructure Fund for the development of geothermal projects, Regional Development and Resources Minister Shane Jones says. “Early-stage geothermal exploration involves high upfront costs. Targeted government investment will help de-risk exploration and get more projects off the ground,” Mr Jones says. “Given the scale of opportunity, it makes sense to ringfence $50m to help de-risk a…

Mercury Opens $220m Geothermal Expansion

Mercury NZ Limited (MCY), listed on both the NZX and ASX, has officially opened its new fifth generation unit at the Ngā Tamariki Geothermal Station near Taupō. Mercury generates electricity from 100% renewable sources, including hydro, geothermal, and wind, and is also a retailer of electricity, gas, broadband, and mobile services. The $220 million expansion project, first announced in 2023, was completed in just under two years. The expansion …