Scoop has an Ethical Paywall
Mercury Sells Interest In Hudson Ranch 1
Mercury has sold its interest in the Hudson Ranch 1 geothermal power station (HR1), located on the Salton Sea in California, to a subsidiary of Macquarie Infrastructure Partners V, a fund managed by Macquarie Infrastructure and Real Assets.
Mercury acquired its interest in HR1 in 2010, partially funding the development of the 55MW geothermal station which has now been operating for over eight years. Mercury received net proceeds for the sale of approximately NZ$40m.
Mercury has retained its minority interest in EnergySource LLC, the developer and operator of HR1, and EnergySource Minerals LLC, a related company currently trialling lithium and other mineral extraction from the geothermal brine at HR1.
Mercury Chief Executive, Vince Hawksworth, said the sale outcome was pleasing and capped off a successful investment at HR1, while the minority interest retained in the EnergySource companies allows Mercury to participate in any further value brought about by the development of innovative mineral extraction technologies currently underway.
John Mazenier: Gaffer Tape And Glue Delivering New Zealand’s Mission Critical Services
Earthquake Commission: Ivan Skinner Award Winner Inspired By Real-life Earthquake Experience
Reserve Bank: Consultation Opens On A Digital Currency For New Zealand
NIWA: Ship Anchors May Cause Extensive And Long-lasting Damage To The Seafloor, According To New Research
New Zealand Customs Service: A Step Forward For Simpler Trade Between New Zealand And Singapore
Horizon Research: 68% Say Make Banks Offer Fraud Protection
