The Greens seem happy, but an energy analyst says Contact Energy's renewable energy announcement won't go down well in every quarter.

The company is ploughing $2 billion into wind farms and two new geothermal energy stations in the Taupo area.

Energy Analyst Chris Stone from Mcdouall Stewart says the idea is a good one. He says it is likely some people near the existing Wairakei geothermal schemes may not be too keen.

Mr Stone says there has been concern over subsidence associated with geothermal plants in the area.