Manawa Energy
New Zealand renewable electricity generator operating hydroelectric power schemes and serving commercial and industrial customers.
Last updated August 26, 2026
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Overview
Manawa Energy is a New Zealand electricity-generation company whose business is centered on renewable power, particularly hydroelectricity. The company traces its operational heritage to municipal and regional electricity organizations in the Bay of Plenty, including the Tauranga Borough Council electricity department and the Tauranga Electric Power Board. Those organizations developed early hydroelectric assets and electricity-distribution networks before the business was reorganized and subsequently operated under the Trustpower name. The company became Trustpower in the 1990s as New Zealand restructured its electricity industry. Trustpower listed on the New Zealand Exchange in April 1994 and expanded through acquisitions of regional electricity businesses, retail operations and generation assets. The 1998 Electricity Industry Reform Act required separation of electricity lines businesses from generation and retail activities. Trustpower consequently sold its network business and concentrated on generation and electricity retailing, using the proceeds and subsequent transactions to build a geographically diverse portfolio of hydroelectric stations and, for a period, wind assets. Trustpower’s generation portfolio grew through purchases of stations and schemes including Coleridge, Highbank/Montalto, Matahina, Arnold, Branch, Waihopai, Kumara, Mangorei, Motukawa, Paerau, Patearoa, Patea, Wahapo and Waipori. It also acquired or developed interests in wind generation. In 2016, its wind assets were separated into Tilt Renewables, allowing the remaining Trustpower business to focus more closely on New Zealand generation and energy retailing. The business later changed substantially. In 2022, Trustpower sold its mass-market retail customer base, retail business and the Trustpower consumer brand to Mercury NZ. The retained company continued as a renewable electricity generator and adopted the Manawa Energy name. It operates 26 power schemes extending from the Bay of Plenty in the North Island to Otago in the South Island, and offers tailored electricity products primarily to commercial and industrial customers rather than operating as a broad mass-market retail brand. Manawa Energy was acquired by Contact Energy in July 2025. Following that transaction, it became part of Contact’s wider New Zealand electricity-generation portfolio. Manawa’s identity and operating focus remain associated with renewable generation and long-term electricity supply, while ownership is no longer represented by the former standalone Trustpower shareholder structure.
History
Manawa Energy’s history begins with the development of public electricity infrastructure in Tauranga. In 1913, the Tauranga Borough Council sought control of Omanawa Falls so that it could use the site for water-power generation. Government approval followed in 1914, and the council established an electricity department on 5 October that year to build a distribution system and market power from the planned Omanawa Falls station. Electrical engineer Lloyd Mandeno joined the council in 1915 and helped develop the generation and distribution network. The department gradually extended electricity beyond central Tauranga into surrounding rural districts, while electric cooking and water heating became early examples of local electricity use. Rising demand led to construction of the McLaren Falls station, which began generation in June 1925. The Tauranga Electric Power Board, established in 1923, served much of the surrounding Bay of Plenty and initially purchased power from the borough electricity department. Mandeno later worked with the board and introduced the single-wire earth-return system, which reduced the cost of supplying dispersed rural customers. The board also developed an automatic load-control system in response to peak-demand charging and manufactured prestressed concrete power poles. During the 1960s and 1970s, the Tauranga electricity organizations expanded their generation base. A joint generation committee was established in 1965 to develop stations on the Mangapapa and Wairoa rivers. The resulting Kaimai hydroelectric scheme included the Lloyd Mandeno station, commissioned in 1972, Lower Mangapapa in 1979 and Ruahihi in 1981. The original McLaren Falls station was decommissioned in 1989. New Zealand’s electricity-sector reforms in the early 1990s transformed the organizational structure. Tauranga’s municipal electricity assets were transferred to Tauranga Electricity Ltd in 1992. In 1994 the business adopted the Trustpower name and changed its ownership structure. Trustpower listed on the New Zealand Exchange on 18 April 1994, with infrastructure investor Infratil becoming a major shareholder. The company expanded through the acquisition of regional electricity businesses, including Taupo Electricity and Taupo Generation in 1995, and later obtained control of Rotorua Electricity. The 1998 Electricity Industry Reform Act required operational and ownership separation of electricity lines and generation businesses. Trustpower elected to focus on generation and retailing and sold its lines business to United Networks for NZ$485 million. It also purchased generation assets and retail businesses released by other electricity companies. By March 1999, its generation portfolio had reached approximately 421.5 MW of installed capacity and potential annual output of about 1,769 GWh. Trustpower acquired Cobb Power Station in 2003 and Infratil increased its interest to a controlling 51 percent in 2006. The company continued selective expansion. It bought Energy Direct in 2013 and acquired a majority stake in King Country Energy in 2015. In 2016, Trustpower separated its wind-generation assets in Australia and New Zealand into Tilt Renewables. Trustpower subsequently achieved full control of King Country Energy with the King Country Electric Power Trust retaining a minority interest, and King Country Energy transferred its retail business to Trustpower in 2018. Trustpower also sold its Australian hydro-generation assets as it concentrated on New Zealand. A major strategic change occurred in 2022, when Mercury NZ acquired Trustpower’s mass-market retail business, retail customer base and consumer brand. The retained generation company adopted the Manawa Energy name. Its principal activity became renewable electricity generation, supported by commercial and industrial energy products. Manawa operates 26 power schemes from the Bay of Plenty to Otago. Contact Energy acquired Manawa Energy in July 2025, ending its period as an independently owned listed company and placing its generation assets within Contact’s group.
- 2025
Acquired by Contact Energy
[1]Contact Energy acquired Manawa Energy in July 2025.
- 2022
Manawa Energy brand launched
[1]Following the sale of its mass-market retail operations to Mercury, the retained generation business became Manawa Energy.
- 2016
Wind assets demerged into Tilt Renewables
[1]Trustpower separated its wind-generation assets into a new company, Tilt Renewables.
- 1998
Electricity-sector restructuring
[1]Trustpower sold its lines business and concentrated on generation and retailing in response to sector reforms.
- 1994
Trustpower name adopted and company listed
[1]The restructured electricity business adopted the Trustpower name and listed on the New Zealand Exchange on 18 April.
- 1972
Lloyd Mandeno Power Station commissioned
[1]The first of the principal Kaimai scheme stations entered service.
- 1965
Tauranga Joint Generation Committee established
[1]The committee was formed to develop, operate and commercialize new Bay of Plenty hydroelectric stations.
- 1925
McLaren Falls begins generation
[1]The McLaren Falls hydroelectric station commenced operation on 25 June.
- 1914
Approval for Omanawa Falls generation
[1]The Public Works Department approved use of the Omanawa River for electricity generation and supply.
- 1913
Tauranga seeks Omanawa Falls water rights
[1]The Tauranga Borough Council applied to secure Omanawa Falls for hydroelectric development.
Products and positioning
A New Zealand renewable-generation business focused on hydroelectric power and customized electricity supply for commercial and industrial users.
Renewable electricity generation
Hydroelectric generation
Manawa’s core business is the operation of hydroelectric power schemes across New Zealand. Its portfolio extends from the Bay of Plenty to Otago and includes generation assets developed by predecessor municipal and regional electricity organizations as well as assets acquired during Trustpower’s expansion. The portfolio supplies renewable electricity to the New Zealand market and supports the company’s commercial and industrial energy business.
Electricity supply
Commercial and industrial electricity products
Manawa offers electricity products designed for commercial and industrial customers. These products are described as bespoke or tailored rather than as a mass-market household bundle, reflecting the company’s post-2022 focus after Mercury acquired the former Trustpower retail business.
Brand decisions
2025
Acquisition by Contact EnergyM&ABackground
Manawa Energy was operating as a New Zealand renewable electricity generator after the 2022 retail divestment.
Action taken
Contact Energy acquired Manawa Energy in July 2025.
Aftermath
Manawa became part of Contact Energy’s wider New Zealand energy-generation group.
2022
Sale of mass-market retail business to MercuryM&ABackground
Trustpower separated its retail activities from its generation assets and sought a buyer for its mass-market customer business.
Action taken
Mercury NZ acquired the retail business, customer base and Trustpower consumer brand. The retained generation company changed its name to Manawa Energy.
Aftermath
Manawa became a renewable generator focused on commercial and industrial customers, while Mercury integrated the acquired retail operations.
2016
Demerger of wind assetsStrategyBackground
Trustpower announced that its wind assets in Australia and New Zealand could be separated from the rest of the business.
Action taken
A court-approved scheme completed on 31 October 2016, creating Tilt Renewables as a separate company.
Aftermath
Trustpower concentrated more closely on its New Zealand generation and retail operations, while Tilt Renewables focused on wind generation.
1998
Focus on generation and retail after electricity reformsStrategyBackground
The Electricity Industry Reform Act 1998 required separation of lines activities from generation and retailing. Trustpower had accumulated a substantial generation portfolio and chose to operate as a generator-retailer.
Action taken
Trustpower sold its lines and contracting business to United Networks and used the resulting proceeds, together with further transactions, to expand its generation portfolio and acquire retail customers.
Aftermath
The company became a significant New Zealand generator-retailer and expanded its hydroelectric holdings.
Recent events
- 2025
Contact Energy acquires Manawa Energy[1]
M&A
Contact Energy acquired Manawa Energy, bringing the renewable-generation company into Contact’s New Zealand energy portfolio.
- 2022
Trustpower sells retail business and brand to Mercury NZ[1]
M&A
Mercury NZ acquired Trustpower’s mass-market retail business, customer base and consumer brand, while the retained generation company continued operating its renewable assets.
- 2022
Trustpower changes name to Manawa Energy[2]
Leadership change
After the sale of its mass-market retail operations, the retained generation business adopted the Manawa Energy name and focused on renewable electricity generation and commercial and industrial customers.
Sources3 sources
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