Mighty River Power extends option to increase ownership stake in U.S. project
Hudson Ranch I geothermal power plant, January 2012, Salton Sea, California/ U.S. (source: EnergySource)
Alexander Richter
5 Jun 2013
Mighty River Power has extended its option to increase its ownership stake in EnergySource from currently 20% to 33.33%. The company runs the Hudson Ranch I geothermal power plant in California and is building the Hudson Ranch II project.
As part of a quarterly update, New Zealand’s – and now listed – Mighty River Power announces that “it has negotiated an extension to the option to increase its ownership interest in US-based geothermal company, EnergySource from 20% to 33.33%.
Mr Trigg said the agreement with the equity partners in EnergySource originally expired in May 2013. This option has now been extended until the first quarter of FY2014 while the Company considers whether or not it would exercise the option.
“EnergySource successfully developed John L Featherstone geothermal power station which was commissioned in 2012 and are in the pre-development stages with a similar project – the proposed Hudson Ranch II project as previously disclosed,” said Mr Trigg.
Source: Mighty River Power
