UK: geothermal, gas development

Contact Energy has launched a USD 300 million bond issue offering an annual 8% interest rate with the ability to accept unlimited oversubscriptions. Contact chief executive David Baldwin said the company intended to use the funds raised to support its capital investment program and for general operational purposes, and possibly to repay existing debt. The capital investments included geothermal development near Taupo, new gas-fired peaking capacity at Stratford, and the country’s first underground natural gas storage facility near Stratford.
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