MightyRiver slashes budget for new capital expenditure

Wed, 26 Feb 2014

By Pattrick Smellie Feb. 26 (BusinessDesk) – MightyRiverPower, the partially privatised electricity generator and retailer, has cut back its forecast for new capital expenditure for the second time since it floated last May, citing the need to contain costs and a “more patient” approach to American geothermal developments. While its forecast maintenance capex is still expected to come in at $71.6 million for the year to June 30, its forecast spend in last year’s prospectus of $127.5 million on new investments has been pegged back to between $...

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