15 November 2008 - Contact Energy and the Taupo community today celebrated 50 years of renewable electricity generation at the pioneering Wairakei Geothermal Power Station.

Today marks 50 years to the day since then Minister of Electricity, the Hon Hugh Watt, flicked the switch and Wairakei started generating electricity from geothermal steam and water (photo attached). Since then more than 55,000 GWh of renewable electricity have been generated and more than 1,500 employees have worked at the site.

Contact Chief Executive David Baldwin said Wairakei had confirmed its position as one of the world's most important and innovative power stations.

"Wairakei may have been the first of its of its kind to generate electricity from both geothermal steam and water, but it is the technology pioneered at Wairakei 50 years ago that has made New Zealand a world leader in the geothermal industry. "Wairakei has provided the cornerstone for New Zealand's renewable energy future and has provided the foundations for numerous other geothermal developments both here in New Zealand and across the world."

Over the last 50 years, Wairakei has not only provided New Zealand with a reliable supply of electricity but has made an important contribution to the development of the Taupo region.

"The invaluable skills and experience gained at Wairakei over the last 50 years position Contact very well to invest more than $1 billion over the next five to seven years in three new geothermal power stations," said Mr Baldwin.

"Geothermal is the most strategically important and cost-effective fuel source for New Zealand's electricity sector. The development of our geothermal energy resources will be critical to New Zealand generating more of its electricity from renewable sources."

Mr Baldwin said geothermal energy is an area in which New Zealand has some of the best skills and the best development opportunities.

"Through the efforts and innovation of all those pioneering Kiwis who built and operated Wairakei over the last 50 years we have led the world in geothermal energy and we are in the process of doing it again."