MightyRiverPower is shutting down its largest geothermal power station, the 140 Megawatt Nga Awa Purua installation, to perform temporary repairs after finding geothermal fluids have damaged the three-year-old unit. Commissioned in 2010, Nga Awa Purua is the largest of MRP’s five geothermal power stations, representing close to 30 percent of its 469MW of rated output from steamfields in the central …

Rangatira, which bought a cornerstone stake in beer company Tuatara Brewing this year, reported a tenfold surge in first-half profit after selling its stake in engineering service firm Contract Resources and its direct holding in accounting software developer Xero. Net profit jumped to $30.8 million in the six months ended Sept. 30 from $3 million a year earlier, the Wellington-based …

The New Zealand dollar rose against the euro after higher European inflation dented expectations that the European Central Bank may have to ease monetary conditions further to stimulate growth. The kiwi touched 60.02 euro cents over the weekend and was trading at 59.82 cents at 8am in Wellington from 59.47 cents at the 5pm market close on Friday. The local …