MRP flags Chilean geothermal costs, keeps guidance unchanged

Wed, 04 Nov 2015

By Pattrick Smellie Nov. 5 (BusinessDesk) - Electricity generator and retailer MightyRiverPower has signalled it may face additional costs associated with its Chilean geothermal assets, for which it has failed to find a buyer and may require spending on site remediation, chief executive Fraser Whineray told the company's annual meeting in Auckland. At its second annual meeting since the government-controlled business sold 49 percent of its shares to a mix of local and offshore investors, Whineray said guidance on earnings before interest,...

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