- Ventia (VNT) signs a contract with Transpower New Zealand to provide, operate and maintain electrical and telecommunication services to the country’s electricity grid
- Transpower is New Zealand’s high voltage transmission network owner and operator and is responsible for the electric power transmission in the country
- The contract will run for an initial five-year period which is expected to generate revenue of NZ$300 million (A$273.6 million) to Ventia
- Under the contract, Ventia will operate across the North and South islands, providing capital projects across all regions
- Ventia ends the day 3.15 per cent in the green with shares trading at $2.62
Ventia (VNT) has signed a contract with Transpower New Zealand to provide, operate and maintain electrical and telecommunication services to the country’s electricity grid.
Transpower is New Zealand’s high voltage transmission network owner and operator and is responsible for the electric power transmission in the country.
The contract will run for an initial five-year period with the option to extend a further five if required.
The initial five-year period is expected to generate revenue of NZ$300 million (A$273.6 million) to Ventia.
Under the contract, Ventia will operate across the North and South islands, providing capital projects across all regions.
“Ventia is delighted to continue our long-term partnership with Transpower, providing highly skilled and specialist services to meet the current and future needs of New Zealand’s electricity grid,” CEO Dean Banks said.
“This contract renewal is a testament to our commitment to redefine service excellence and to provide Transpower and communities in New Zealand with innovative and sustainable solutions. We look forward to our role in enabling Transpower’s strategy towards a renewable, electrified, low-carbon economy.”
Ventia has ended the day 3.15 per cent in the green with shares trading at $2.62.