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Contact Energy Limited was formed from the privatisation of state-owned electricity assets in the late 1990s, and its history tracks closely with the development of New Zealand's modern electricity market. Today, the company is one of the NZX50's most significant constituents and a cornerstone holding for domestic and international investors seeking New Zealand renewable energy exposure.

Contact's generation portfolio is anchored by its geothermal assets in the Taupo Volcanic Zone. The company operates the Wairakei, Poihipi, and Te Huka geothermal stations, collectively making it New Zealand's largest geothermal generator. Geothermal generation is highly valued in the New Zealand electricity system because it is continuous and baseload — unlike hydro and wind, it does not depend on weather conditions, providing reliable, renewable power around the clock. This characteristic gives Contact Energy a generation profile that is inherently more stable than operators relying on variable renewable sources.

The Tauhara geothermal development, located near Taupo, represents the most significant addition to Contact's generation fleet in recent years. Tauhara is a substantial investment that has added new geothermal capacity to the company's portfolio, extending its baseload renewable generation position and reflecting management's confidence in the long-term value of geothermal resources in New Zealand.