Yinson Holdings Berhad has entered into a long-term power purchase agreement (PPA) in New Zealand between its indirect wholly owned subsidiary, Mt Cass Wind Farm Limited (MCWFL), signing a 15-year PPA with Genesis Energy Limited. The agreement covers electricity to be generated from MCWFL’s 94.6-megawatt (MW) wind farm project located on New Zealand’s South Island.
Genesis Energy is one of New Zealand’s major energy generators and retailers, listed on both the New Zealand Stock Exchange and the Australian Securities Exchange. The company supplies electricity, reticulated natural gas and liquefied petroleum gas (LPG) to more than 520,000 customers nationwide and operates a diversified portfolio of thermal and renewable generation assets.
Under the terms of the agreement, the PPA will run for 15 years from the commercial operation date of the wind farm. The estimated aggregate value of the contract is approximately NZD500 million, or about RM1.2 billion, based on an exchange rate of NZD1 to RM2.3441. Commercial operations of the Mt Cass Wind Farm are targeted to commence in the second half of 2028.
