Simply Energy Signs Up 4 More Independent Generators

Wellington, 13 December 2010

Following on from their recent placing as the 7th fastest growing company in the 2010 Deloitte Fast50, Simply Energy have announced today they have signed four more generation deals in the past month. These latest deals will take them to 11 independent generation assets that Simply Energy have contracted with to provide generation – retail services for.

The latest signings include Clearwater Hydro’s 2MW Speedy’s Road generator that is in the final stages of commissioning. Simply Energy has helped Clearwater to secure multi-year fixed price off-takes through direct hedge structures to end users.

The Speedy’s Road generator takes the number of Clearwater hydro assets to three with an installed capacity of 5.8MW over the last couple of years. Clearwater are focused on one new hydro asset per year and with Mangapehi and Matawai already operational are on target.

Stephen Peterson, Managing Director of Simply Energy comments “it is great to build on our existing relationship with The Lines Company owned Clearwater Hydro as they continue to develop their pipeline of generation projects”.

Gordon Cameron of Clearwater Hydro goes on to comment “to continue our generation investment program we require Simply Energy to be in the market focused in on and providing commercial off-take solutions for Clearwater of which they are delivering on”

Mr Peterson goes on to comment “Our business model resonates with these independent generation assets owners, as we don’t take a trading position but facilitate structured solutions, we are better aligned to work with our clients in a collaborative way to implement value add solutions for our clients”.

The other generation projects that Simply Energy have signed are still of a commercially sensitive nature, Mr Peterson would only comment they include a couple of interesting projects they have been involved with for awhile and they will be in a position to make further comments on these in the new year.

ENDS

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