Channel Infrastructure reports stable Q1 throughput, eyes diesel generation

Channel Infrastructure NZ (NZX:CHI) today released its Q1 2025 operational update, highlighting stable throughput and strategic initiatives. Combined fuel throughput reached 915 million litres, with jet fuel throughput remaining steady compared to Q1 2024. The company has commenced front-end engineering and design for a potential diesel generation plant at its Marsden Point site, funded by two electricity market participants. This plant could provide electricity peaking capacity to smooth New Zealand's winter electricity peaks. Conversion project spend reached approximately NZD 187 million by the end of March, remaining within budget. Net borrowings increased to NZD 305 million as of March 31, 2025.