Ventia (ASX:VNT) - CEO, Dean Banks
CEO, Dean Banks
Source: Ventia
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • 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.

VNT by the numbers
More From The Market Herald
Cavalier Resources (ASX:CVR) - Executive Technical Director, Daniel Tuffin

" Cavalier Resources (ASX:CVR) begins PFS at Crawford

Cavalier Resources (ASX:CVR) has begun a pre-feasibility study (PFS) at the Crawford Gold Project within the…
Ten Sixty Four (ASX:X64) - Outgoing Managing Director, Paul Ryan Welker

" Ten Sixty Four (ASX:X64) terminates services agreement of former MD, Paul Ryan Welker

Ten Sixty Four (ASX:X64) has terminated the executive services agreement of former Managing Director Paul Ryan…

" M3 Mining (ASX:M3M) identifies drill targets at Edjudina

M3 Mining (ASX:M3M) has identified prospective gold-in-soil anomalies at the Edjudina gold project 150 kilometres northeast…

" Good Drinks Australia (ASX:GDA) commences the sale of Molson Coors and Magners

Good Drinks Australia (ASX:GDA) begins to sell the Miller Chill, Miller Genuine Draught, Coors, Molson Canadian…