In news from New Zealand it is said that Contact Energy , “after shelving its proposed Te Mihi geothermal power plant near Taupo because of higher material and funding costs last year,  is now calling for construction tenders.

Chief executive David Baldwin says the project may be viable. Profit for the company, the largest listed energy generator and retailer in New Zealand, declined 6% to NZ$150 million (US$106m) in the year to June.”

In its public release on its financial results for the financial year ended 30 June 2010, the company says “it is continuing to develop its Te Mihi geothermal power station (having obtained final resource consents in 2008) and is presently consenting Contact’s proposed Tauhara 2 power station – a geothermal plant of up to 250 megawatts. A key step for Tauhara 2 occurred with the submission of the application to the Environment Protection Authority and the scheduling of the hearing which will provide certainty of decision on the project early in 2011.”

Source: Radio New Zealand, Company press release (pdf),