18 May 2010

Power station profits to be used for hapu

6:05 am on 18 May 2010

A Taupo Maori trust intends to use profits from a new geothermal power station for development of the whole hapu rather than paying individual dividends.

Waatea News reports Tauhara North Number 2 has a 25% stake in Mighty River Power's 140 megawatt Nga Awa Purua plant at Rotokawa, which opened at the weekend.

Trust chief executive Aroha Campbell says the 785 Ngati Tahu owners agreed to forego annual dividends.

Construction on the second of three power stations the trust is building with Mighty River Power will start later this year.