Project Accounting Lead

Watercare has raised €500 million (approximately NZ$1 billion) through its first euro bond issue, completing its entry into major funding markets. The seven-year fixed-rate bond attracted strong demand from European investors. Chief Financial Officer Angela Neeson said the transaction broadens Watercare's access to long-term funding. The proceeds will support a $15.2 billion capital investment programme from FY2027 to FY2036, covering more than 1,000 projects including infrastructure renewal and new developments. The funds will also support repayment of Watercare's transitional loan from Auckland Council. Since becoming financially independent on 1 July 2025, Watercare has progressively replaced transitional funding with capital markets funding. The euro transaction follows Watercare's entry into New Zealand, Australian dollar and Swiss franc bond markets. Watercare holds an Aa3 credit rating from Moody's with a stable outlook.

Downer secures $900m in utilities contracts. Reading Time: 3 mins read Downer has secured more than $900 million in water and energy contracts across Australia and New Zealand, including major maintenance, infrastructure delivery and network upgrade work. The contracts include renewals and extensions with Watercare Services, Logan City Council and Invercargill City Council, as well as a new delivery services panel with New Zealand energy distributor Vector. In Auckland, Downer has secured a renewal with Watercare Services to deliver proactive and reactive maintenance across the city's northern water and wastewater network. The contract is valued at an estimated NZ$420 million (about AU$378 million) over a maximum 10-year term, commencing in October 2026 with an initial five-year term and extension options. Downer's scope will include scheduled and reactive maintenance, emergency response, inspections, reporting, asset renewals and data management. The company has delivered water and wastewater services for Watercare for more than a decade. In Queensland, Downer has secured a two-year, approximately $320 million extension with Logan City Council for water and wastewater infrastructure services. Through the Logan Water Infrastructure Program Alliance, Downer will continue providing planning, design, delivery and program management services across water, sewerage and treatment assets. The extension begins on July 1, 2027. Downer has also been awarded a contract with Invercargill City Council in New Zealand to deliver reticulation operations and maintenance across its water, wastewater and stormwater networks. The contract is valued at up to NZ$120 million (about AU$108 million) over a maximum 15-year term. It includes an initial five-year term with extension options, with approximately NZ$45 million (about AU$37 million) allocated to operations and maintenance over the full term. A further NZ$75 million (about AU$62 million) in capital renewal works may be delivered at the council's discretion. The company has also been appointed to a five-year delivery services panel with Vector for electrical capital works across Auckland's energy infrastructure network. Downer expects to generate approximately NZ$150 million (about AU$135 million) in revenue from the panel, with work allocated between three providers. Projects under the panel will include network augmentation, asset renewal and upgrades, asset installation and replacement, overhead and underground works, substation works, testing and commissioning, outage planning, traffic management and delivery management. Downer CEO Peter Tompkins said the contracts reflected continued demand from utility asset owners for specialist infrastructure capabilities. "We are pleased to secure these important contracts, which reflect trust in Downer's industry-leading expertise, and we anticipate further contract award announcements in coming months," Tompkins said. The company said the latest awards form part of a broader pipeline of work across the energy and utilities sectors in Australia and New Zealand.