The company announced earlier this year that it was undertaking a review of international geothermal investments as part of a broader strategic planning process.
Chief Executive, Fraser Whineray, said the international geothermal development options in all three countries have positive characteristics, but were now not in line with the company’s investment objectives.
“We will be commencing a sale process for the assets in Chile and Germany. In the US, where we have an interest in a 50 MW operating plant and a minority stake in a geothermal development company, no further development capital will be committed.”
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