Agreements For Geothermal Development On The Taheke Field

07 November 2011

MRP signed agreements with Okere Incorporation & Ruahine Kuharua Incorporation for the investigation and development of geothermal power generation.Mighty River Power today signed agreements with Okere Incorporation and Ruahine Kuharua Incorporation for the investigation and development of geothermal power generation on the Taheke field, 20kms northeast of Rotorua.

The development agreements, for what will be known as the Te ia a Tutea Development, enable initial exploration and feasibility study of the geothermal resource and provide for long-term co-ownership of any subsequent developments.

Mighty River Power General Manager Development, Mark Trigg, said the signing symbolised a milestone in the Company’s long-standing relationship with both Okere and Ruahine Kuharua.

Mighty River Power’s joint development approach with Maori Land Trusts has been the platform for the Company’s significant growth in geothermal over the past decade, supported by its now internationally recognised expertise he said.

The Taheke resource was thought to be of medium temperature spanning an area potentially comparable to the Rotokawa field, where the Company has completed its most recent development, Nga Awa Purua.

Chairman of Okere Incorporation, Don Bennett, said the Te ia a Tutea agreements reflected the mutual understanding between all parties about co-ownership and sustainable development of the resource.

He said that Okere had been in discussions with Mighty River Power for many years and over that time mutual respect and trust was formed. Having also observed the successes of the partnership between Mighty River Power and Tauhara North No.2 Trust it was a natural choice to select Mighty River Power as their geothermal partner.

Chairman of Ruahine Kuharua Incorporation, David Wickliffe, said “This is a landmark development where two Maori landowners have agreed to come together with respect to geothermal development in the spirit of whanaungatanga. Signing these agreements marks a significant milestone”.

Mr Trigg said that subject to consenting arrangements, exploration drilling is expected to start on the field within the next 12 months.

ENDS

Photo: Image supplied courtesy of Topic Photography / James Turnbull:   L-R, Don Bennett, Chair, Okere Incorporation; David Wickcliffe, Chair, Ruahine Kuharua Incorporation; Doug Heffernan, Chief Executive, Mighty River Power

About Taheke

The Taheke field is located approximately 20kms northeast of Rotorua, on the northern shores of Lake Rotoiti.
The area of land highlighted for the Te ia a Tutea Development is owned by the Okere Incorporation (Okere) and Ruahine Kuharua Incorporation (RKI).  Mighty River Power is also a landowner on the field through its Sun Valley block, which was acquired in mid-2004.

About Mighty River Power

Mighty River Power is a New Zealand electricity company, with a flexible portfolio of electricity generation assets, a strong national retail presence and a focus on domestic generation and international geothermal development opportunities. More than 90% of our generation is from renewable sources. We supply both electricity and thermal energy to major commercial users and have about 20% of New Zealand’s retail market with our brands, Mercury Energy, Bosco Connect and Tiny Mighty Power.