Geothermal more than 40% of power generation of Mighty River Power
Aerial view of Ngatamariki plant, New Zealand in March 2013 (source: Mighty River Power)
Alexander Richter
26 Feb 2014
Mighty River Power reports reaping benefits from geothermal investments which offset a drop in hydro power generation. Geothermal represents more than 40% of MRP total power generation in the first half business year of 2014 for the company.
With the financial year going from June to June, New Zealand based Mighty River Power has now released its financial results for the first six months that ended for the company December 31, 2013.
The company is on track to achieve its full year 2014 outlook as provided in its IPO forecast last year. Despite a drop in hydro power generation of nearly 25%, the company has been able to realize important and expected benefit from its geothermal investments.
For the first half year, the company reports that for the first time, geothermal represents more than 40% of its power generation.
Source: Scoop NZ
