Mighty River Power will receive $40.5 million after reducing its interest in two geothermal projects.
Under an agreement with Tauhara North No.2 Trust signed in 2007, the state-owned company has sold a 10% stake in its Nga Awa Purua and Rotokawa Joint Ventures.
Mighty River Power now holds an interest of 65% in the Nga Awa Purua Joint Venture.
The trust acquired its initial 25% interest in 2007.