Mighty River Power is selling its geothermal development interests in Chile and Germany, but will retain its United States-based geothermal investment.
Mighty River Power operates more than half of New Zealand's geothermal generation station.
Chief executive Fraser Whineray said the decision to divest follows a strategic review of the diversified energy company's international investments.
"In the United States we have a interest in operating a geo-thermal power station, which was built about four years ago. That's running well and we'll continue to own our residual interests in that power station. But as far as further development goes, or building new power stations, in Germany, Chile and America, we're not planning to invest further capital".
He said the company will continue to look for geothermal development opportunities in New Zealand, as demand picks up, but it would not make any further capital investments in geothermal in the US or elsewhere.
Geothermal is New Zealand's second largest source of electricity production, after hydro generation.
