Contact Energy remains principal sponsor of the Alexandra Blossom Festival for the third successive year, but the level of its funding is confidential.
Festival chairwoman Clair Higginson yesterday welcomed the news Contact had reconfirmed its sponsorship and said the two groups had a "good and strong partnership".
"We're really happy to keep that relationship with Contact.
"Like the Blossom Festival, in a funny way, Contact is also a local icon," she said.
The future of the event was in jeopardy earlier this year after the festival was declared insolvent, following three successive years of losses.
The community rallied in support and the Vincent Community Board agreed to pay off the 2009 festival debts.
The 54th annual festival will get under way on September 24 and runs until October 9Ms Higginson said the level of Contact's sponsorship would remain confidential as the two parties had signed a agreement to that effect.
Two of the most popular parts of the festival - the float procession on September 25 and the activities in the park that day - would also be sponsored by the company, she said.
Contact's hydro generation manager at Clyde, Graham Quinn, said the company looked for sponsorship opportunities that had a positive impact on the community.
"Supporting what matters to the community is at the heart of Contact Energy sponsorships."
The company has been a festival sponsor since 2006 and principal partner since 2008.
In his report to the festival's annual meeting in March, acting festival chairman Tim Cadogan said in 2009, the committee budgeted to receive $174,650 from trusts and sponsorships but received $101,450 - a shortfall of $73,200.
The shortfall resulted from "a combination of optimism and recession", he said at the time.
Last month, the community board was told this year's festival budget was $268,000, which was $100,000 lower than last year's figure.
