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Genesis Energy CEO confident Kupe profits will boost renewable electricity output

Author
Newstalk ZB,
Publish Date
Thu, 30 Nov 2023, 7:32pm
(Photo / Getty Images)
(Photo / Getty Images)

Genesis Energy CEO confident Kupe profits will boost renewable electricity output

Author
Newstalk ZB,
Publish Date
Thu, 30 Nov 2023, 7:32pm

Genesis Energy is making moves to meet its promise of producing 95 percent renewable energy by 2030.

The company plans to use profits from Kupe gas field to support a $1.1 billion programme to build solar and wind generation and grid-scale battery storage.

Chief executive Malcolm Johns says it's likely Genesis will meet their target within the coming years.

"We're not starting from a cold start, we have a number of things under way, particularly in the area of solar and wind development. Battery will take us about 18 months to put in place, we're pretty confident."

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