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Summary
- Talks are underway about the construction of the world’s largest green hydrogen plant.
- The New Zealand business of Tilt Renewables has been acquired by Mercury NZ.
- Trustpower Limited offers strong results in its operational update.
New Zealand’s utilities sector offers lots of good options for the investors to invest in. Utility companies are big ticket that offer dividends as well as growth to the investors. Most of the utility companies are aligned to New Zealand’s Sustainable development goals and they are moving from coal-based to green energy. From an investor’s point of view, they offer good growth and the best dividend yields. Let’s look at 8 stocks to get acquainted with the latest offers in the market.
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Contact Energy Limited (NZX:CEN) (ASX:CEN)
One of the primary energy stocks in the country, it offers diversity whilst fulfilling energy requirements of its clients. Recently, the Company announced that it had plans to set up the largest hydrogen green energy plant. This would not only serve as a money magnet but also help the Company in decarbonisation.
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NZ Windfarms Limited (NZX:NWF)
As the name suggests, this Company specialises in wind farm technology and is one of the biggest operators of the same in the country. 3 August 2021 was the last day for Director’s nominations in the Company ahead of its annual meeting, which shall help determine several important matters of Company-wide interest.
Tilt Renewables (NZX:TLT) (ASX:TLT)
Working in both New Zealand and Australia with the primary motive of energy generation through renewable means, the company is dual listed. As announced today, Mercury Limited completed the process of subsidiary acquisition as 100% of the stakes of the Company were acquired by Powering Australian Renewables. The scheme consideration value is NZ$8.035, for each share, and it is set out today for dispatch to its shareholders.
Also read: Why are these 5 New Zealand Exchange stocks in the limelight?
Genesis Energy Limited (NZX:GNE) (ASX:GNE)
This is another energy stock in the country. The prime function of this Company is to sell reticulated gas and LPG besides electricity. In a new long-term agreement reached upon by Genesis Energy with Tilt Renewables, there shall be an electricity offtake. This is going to help in the 75MW wind farm located in Kawaikawe, Northland.
Mercury NZ Limited (NZX:MCY) (ASX:MCY)
This Company offers energy solutions throughout the country, like the others in the list. It makes use of geothermal and hydro energy resources. In a major announcement on Tuesday, it was revealed that the Company has acquired the New Zealand Operations of Tilt Renewables. This came after the completion of the Scheme Implementations Agreement that the two Companies signed in the month of March, together with Powering Australian Renewables (PowAR)
Don’t miss: Why are these 8 NZX-listed stocks under the spotlight?
Trustpower Limited (NZX:TPW)
Besides energy, this company also deals in phone as well as internet connectivity services. As per the quarterly operating results offered by the Company for the period ended 30 June 2021, the national storage and wholesale pricing witnessed growth. Customer contacts witnessed a 23% rise on pcp, standing at 1.7 million.
Vector Limited (NZX:VCT)
This Company primarily deals in network infrastructure services with communication and energy as part of its portfolio. It was announced that the Company’s financial results should be presented on 24 August 2021. In its operational performance highlights, the Company disclosed that there were 590,799 electricity connections as on 30 June 2021, which was 1.9% higher than pcp.
Don’t miss: 4 Oil and Gas Stocks Garnering Investors’ Attention- ZEL, NZO, NZR, VCT
Meridian Energy Limited (NZX:MEL) (ASX:MEZ)
This is one of the largest dual-listed energy stocks in the country. Together with Contact Energy Limited, this Company is also on the lookout for registered interests to aid in the development of what they envision to be the largest green hydrogen plant the world has seen till date.
