Genesis Energy (ASX:GNE)
Genesis has a Retail business, a Generation business and an interest in the Kupe oil and gas field.
Genesis is a diversified energy company. The Company sells electricity, natural gas and LPG through its retail brands. The Company generates electricity, and trade electricity and natural gas, through its Generation business. The Company also has a 46% interest in the Kupe Joint Venture which owns the Kupe oil and gas field.
The Company is New Zealand's largest electricity and gas retailer, supplying energy through its two retail brands – Genesis and Energy Online – to more than 650,000 customer connections across New Zealand. The Company also own and operate a portfolio of thermal generation and renewable generation assets located in different parts of New Zealand.
Genesis' portfolio of generation assets comprises:
- Thermal Generation: At 953 MW, the Huntly Power Station is the largest electricity generation facility in New Zealand by capacity. It is made up of two modern gas fired and two gas/coal fired generating units.
- Renewable Generation: Genesis has three hydro schemes Tongariro (361.8 MW), Waikaremoana (138.0 MW) and Tekapo(179.0 MW). These schemes comprise eight power stations. Six are located in the North Island and two in the South Island. The Company also have a 7.3 MW wind farm at Hau Nui in the North Island. This geographical spread of generation helps reduce the impact of localised dry periods on Genesis' earnings.