12 Aug 2013

PM says no pressure to sell wind farm stake

6:59 pm on 12 August 2013

The Government has rejected any suggestion that it pressured Meridian to sell an Australian wind farm to boost its profit and make it more attractive to investors.

Meridian Energy on Monday announced that its annual net profit has jumped to $295 million, partly due to selling its stake in Macarthur Wind Farm.

The state-owned energy company is due to be put up for partial sale in October this year.

Prime Minister John Key said on Monday that Meridian's board makes its own decisions about what assets to buy or sell and the Government had no influence.

Mr Key said investors would make decisions on whether to buy shares based on more factors than just the one-off sale of a wind farm.