August 28, 2008

Partners Sought for Power Projects; MAINPOWER


North Canterbury electricity lines company MainPower estimates it could cost $200 million to become 75 per cent self-sufficient in energy by developing a wind farm and a couple of small hydro plants.

MainPower managing director Allan Berge said the company, whose network stretches south to north from Rangiora to Kaikoura and west to the Southern Alps, did not have the capacity to fund that investment alone and was looking for compatible partners with experience in the energy industry.

He expected the big five generator-retailer companies to be interested in partnership. Options included also finding a partner that would lend part of the cost as well as joint ownership.

MainPower said in its just released annual report it was examining two small hydro projects.

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