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The case for NZ front-footing big tech and AI regulation
Will Mace
Mon, 20 Apr 2026
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Sun 19 Apr 2026 11:27:27pm
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Green light for stage two of Huntly battery project
Electricity generator and retailer Genesis says it will go ahead with stage two of its grid-scale battery energy storage system at Huntly, doubling installed battery capacity to 200MW.
The $106 million project will be funded on balance sheet with proceeds of the $400m capital raise in March.
In a statement to the NZX on Monday, Genesis said the batteries would be supplied and serviced by French multinational Saft, a subsidiary of Total Energies.
Commercial operation of the batteries, which can power about 120,000 homes for two hours, is due to start in 2028.
Chief operating officer Tracey Hickman said reaching final investment decision on stage two “reflects the disciplined execution of our Gen35 strategy and our focus on investing in assets that enhance flexibility across our portfolio”.
Channel Infrastructure agrees terms for Govt diesel storage
Channel Infrastructure says the Government will pay $1.2 million a month for contracting additional diesel storage until December 31, 2027.
In a statement to the NZX the company said the 93 million litres of extra capacity, equivalent to about nine days of supply, should be available from May 31.
“Our team has created a unique and expedient solution to provide additional diesel resiliency at massive scale in a highly compressed timeframe,” said chief executive Rob Buchanan.
Channel’s people and key Northland contractor partners, including Culham Engineering, Dialog Fitzroy, Intergroup, ISS, McKay, SGS and United Civil, along with the support of our equipment suppliers, have rallied together, and the team is proud to be working around the clock to deliver this important diesel storage for the benefit of all New Zealanders.”
The company said it was retaining guidance of $95m-$100m in earnings before interest, tax, depreciation and amortisation for the year to December.
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Sun 19 Apr 2026 11:27:07pm
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