4 Nov 2014

Power stations boost for Trustpower

6:27 am on 4 November 2014

Trustpower has booked a rapid-fire $25 million capital gain on its July purchase of Australian hydro and wind power stations.

The electricity company, which is 51 percent-owned by Infratil, paid a little over $81 million for the Green State Power hydro and wind assets in New South Wales.

The windfall profit boosted the electricity generator and retailer's $89.2 million first-half net profit, which was up 15.6%.

Trustpower chief executive Vince Hawksworth said the company's Australian power stations now account for a little more than a third of annual revenue from generation.