Mighty River Power Expands New Zealand's Portfolio with Major Geothermal and Wind Projects Under Construction in 2013

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Researched by Industrial Info Resources Australia (Perth, Australia)--Mighty River Power Limited (NZX:MRP) (Auckland, New Zealand) is a leading power generation and power retailing company, with operations focusing on the development of low-cost generation options in New Zealand. Mighty River Power specializes in highly economic geothermal generation, as well as other fuel types, such as wind and natural gas.

In the last five years, Mighty River Power has brought online the largest geothermal development program in New Zealand. Major plants include the Nga Awa Purua, which was commissioned in 2010, and the Kawerau plant, which was commissioned in 2008. Mighty River Power assets include nine hydro stations on the Waikato River, four geothermal stations, and a natural gas-fired power station. All generation assets are located on upper North Island, close to the high-demand centers. Mighty River Power will continue expanding its portfolio in 2013, with a focus on geothermal and the company's first wind energy venture.

Mighty River Power is working with major contractor Ormat Pacific (Taupo, New Zealand), which is a subsidiary of Ormat Technologies Incorporated (NYSE:ORA) (Reno, Nevada), to develop an 82-megawatt (MW) Ngatamariki geothermal power station. Mighty River and Ormat Pacific have begun construction for the $344 million project, which involves installation of a binary fuel power station at an existing geothermal field 17 kilometers northeast of Taupo.

The project involves the drilling of three to four production wells, 100% reinjection wells and a steam-gathering system. The steam generated will be used to drive eight 10.25-MW turbo expander units using Ormat Energy Converter (OEC) technology to supply renewable energy to the New Zealand grid.

Mighty River Power awarded Transfield Services Limited (Auckland, New Zealand) a major substation and transmission line contract. Final commissioning of the Ngatamariki plant is expected in June 2013. When Ngatamariki is completed, Mighty River Power's geothermal contribution to the New Zealand grid will represent more than 460 MW.

Mighty River Power conducted preliminary design for a major 200-MW windfarm proposed for New Zealand's North Island, 40 kilometers south of Dannevirke. The windfarm, known as Puketoi, will consist of up to 53 structural steel towers, each fitted with a 3.5-MW to 4-MW wind turbine generator.

Mighty River Power received resource consent for the Puketoi windfarm, and upon final financial approval, will release bid documents for turbines, other major equipment and subcontractors through August 2013. Construction is scheduled for the fourth quarter of the year, with completion expected in 2015.

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