Contact applies for clearance to buy NGC power stations

NGC is selling the stations, including a combined cycle gas turbine plant in Stratford, and the Cobb hydro power scheme near Nelson, as part of its exit from its failed foray into the electricity sector two years ago.

Meridian Energy, TrustPower and Mighty River Power have expressed interest in some of the generation assets.

The Stratford plant generates 360MW and the Cobb station 32MW, while NGC also half owns the 118MW Southdown station in Auckland.

Meridian Energy chief executive Keith Turner said recently that Meridian was interested in the Stratford plant and Southdown, as they would provide a balance to its portfolio of all hydro generation assets.

Trustpower said it would look as some or all of the stations while Mighty River Power, owner of the other half of Southdown and with first option on NGC's share, said that when any generating assets came on the market they had to be considered.

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