Contact has today taken full ownership of King Country Energy Limited, including its five North Island hydropower stations.
Since 2017, the stations have been operated and maintained by Manawa Energy Limited, a wholly owned subsidiary of Contact. Contact, through its wholly-owned subsidiary King Country Energy Holdings Limited (“KCE Holdings”), previously held ~75% of the shares in King Country Energy.
Contact and KCE Holdings have purchased the remaining 24.98% of King Country Energy’s shares from the trustees of the King Country Trust (“the Trust”). The transaction was funded via the issue of new shares in Contact to the Trust.
King Country Energy Board and Director update
With the change in ownership announced today, King Country Energy Board Director and Contact Hydro Development Manager Todd Mead acknowledged the significant contribution of the King Country Trust to the King Country Energy Board since King Country Energy was formed in the 1990s.
“King Country Energy has had a longstanding relationship with the King Country Trust. The Trust has been a strong advocate for King Country Energy generation, and their presence on the Board has brought extensive knowledge and a local perspective that we have greatly appreciated over the years.
I'd particularly like to thank outgoing King Country Energy Board Director Jo Bransgrove. Jo has been on the Board since March 2024. She has been a valuable member of the Board and brought a balanced local perspective to King Country Energy as it transitioned through a number of changes.
On behalf of the Board, I’d like to thank Jo for her insights and service as King Country Trust’s representative and wish her all the very best for the future,” said Mr Mead.
