• Downer awarded 12-year, NZ$600m electricity field services contract with PowerCo
• Contract commences on 1 July 2025 with initial 5-year term and 7-year extension options
• Contract covers maintenance, minor capital works and fault repair services across two regions of PowerCo's electricity network

Downer EDI Limited (Downer) has announced that it has been awarded an Electricity Field Services Agreement with New Zealand energy distribution company, Powerco, valued at approximately NZ$600 million (AU$540 million) over a maximum term of 12 years. The contract commences on 1 July 2025 and is for an initial period of five years (valued at approximately NZ$250 million), with provisions for extension options for a further seven years (taking the total value if all extensions are exercised, to approximately NZ$600 million). Under the contract, Downer will provide maintenance, minor capital works and fault repair services across two regions of Powerco's electricity distribution network on New Zealand's North Island. This contract replaces Downer's current field services work with Powerco. Downer's Chief Executive Officer, Peter Tompkins, stated that this contract further showcases Downer as a leader in the delivery of power distribution network services and strengthens the company's position as a market leader in New Zealand's Utilities sector. The contract is also seen as a strong endorsement of Downer's proven track record in supporting its customers to provide cost-effective, safe and reliable energy for their communities.