Mighty River Power unsuccessful in finding buyer for Chile assets
Drilling Rig at Puchuldiza, Chile (source: GeoGlobal Energy)
Alexander Richter
5 Nov 2015
Mighty River Power reports not having found a buyer for its geothermal assets in Chile, after its decision to go out of international geothermal development.
At its recent annual meeting, Mighty River Power has announced that it might face additional costs with its Chilean geothermal assets. MRP has so far not found a buyer and might have to spend money on site remediation, according to CEO Fraser Whineray.
Late last year, MRP reported it will get out of international geothermal development. So far the company has been able to sell its geothermal assets in Germany, but no buyer has been found for its Chilean assets.
“We may need to remediate sites where geothermal exploration activity has been undertaken, which could result in one-off provisioning in this financial year,” he said, giving no sense of the size of that potential cost and promising an update at the half-year earnings announcement in February.
Source: NBR.co.nz
