Contact Energy reports profit growth and proposes Taranaki data centre

Contact Energy has reported a 27.8% increase in annual net profit, reaching NZD$423.4 million for the year ending June 30, 2026. This growth was significantly bolstered by the NZD$2.6 billion acquisition of Manawa Energy, which added 25 hydro sites and increased the company’s renewable output.

Alongside these financial results, Contact Energy and CDC Data Centres, an Infratil-backed company, have announced plans to explore the development of a 250 MW data centre in Stratford, Taranaki. The proposed facility would be located near the site of the recently retired Taranaki Combined Cycle gas power plant and would be supported by co-located battery storage.

The project aims to leverage Contact’s renewable energy pipeline, including geothermal, wind, and solar options, to provide long-term contracted electricity. The development is expected to create approximately 600 jobs during peak construction and roughly 120 skilled positions once operational.