Energy company Trustpower is considering separating into two listed companies.
Trustpower said one, NewCo, would control its Australia and New Zealand wind assets, while the other, Trustpower Core, would look after the hydro generation and retail business.
Trustpower chair Bruce Harker said the proposal would enable Trustpower to create two businesses with clear strategies.
That would give shareholders the option to choose which parts of the business to invest in.
Last month, the company said its Snowtown wind farm in South Australia would earn less than originally thought and it cut the value of the investment.
A shareholder meeting will be held next year to consider the demerger.