Geothermal site for sale
A large parcel of land once earmarked for the development of a privately-owned 60-megawatt geothermal power station is for sale near Taupo.
The 40-hectare site on Tukairangi Rd, seven kilometres east of Taupo, is in six titles, including two with homesteads, and three of bare land with potential for lifestyle blocks.
The main property has resource consent to extract 70,000 tonnes geothermal fluid a day.
A previous owner, geothermal pioneer Alistair McLachlan, planned to develop a privately-owned geothermal power station on the site large enough to meet the electricity demands of a small city.
McLachlan, who died this year, spent 30 years investigating and developing the potential of geothermal power.
He initially harnessed the geothermal resource under his land to grow export quality orchids before deciding to divest into using it as renewable energy source for the generation of electricity.
McLachlan imported a rig and drilled a single well - from a planned three wells - to a depth of 2000 metres before selling the land without further development.
He had earlier built a private geothermal power station on an adjacent site in partnership with Mercury Energy.
However, the relationship soured and resulted in a protracted legal dispute between the two parties.
Bayleys is marketing the site as one parcel of land.
Of the two titles with homesteads, one has included a tennis court, large pond and storage sheds.
In 2010, the land had a rating value of $1.935 million.
It was bought in December 2011 for $6m by Crimson Box Company Ltd's sole director, Lawrence Chan, of Auckland.
Chan, through Bayleys agent Brendan Gallagher, declined to comment on the sale, for which expressions of interest close on Monday.
- © Fairfax NZ News
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