Mercury sells US power station stake for $40m

Wed, 04 Nov 2020

Mercury NZ has sold down its interest in a geothermal development in southern California.The company will receive about $40 million for its 75 percent stake in the Hudson Ranch 1 power station it helped develop on the Salton Sea. The 55-megawatt station, commissioned in 2012, was bought by a Macquarie Infrastructure Partners fund.Hudson Ranch had been developed by the GeoGlobal Energy Fund which Mercury, then trading as Mighty River Power, established in 2008 to expand its geothermal interests internationally. The fund had interests in projects...

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