After a week of waiting, Rocket Lab has called off the launch of its Electron rocket until early next year.

The high-tech Kiwi company's had been hoping for the second test launch of the rocket off the Mahia Peninsula but it has been delayed all week due to adverse weather and technical problems.

The company released a statement this evening saying the launch attempt was now being called off until early next year.

"Corrective measures have been put in place for the power fault discovered during ground checkouts yesterday, however, with only one day remaining in the launch window Rocket Lab has made the decision to delay an attempt until the new year."

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New dates for attempted lift-off would be announced early in the new year, the statement said.

Yesterday's launch attempt was scrubbed following the identification of a power fault during ground checks.

High winds resulted in the launch being called off on Thursday and Tuesday's attempt was abandoned due to rising liquid oxygen (LOx) temperatures feeding into one of the rocket's nine engines -- just as it was about to take flight.

On Monday the launch was put off because of the proximity of the International Space Station and deteriorating weather.

In May, the New Zealand-founded company's first test rocket made it to space but the mission was terminated before it reached orbit because of a communication glitch.

If successful, the 17m Electron rocket will deliver small satellites to low Earth orbit at an unprecedented frequency.