Te Rere Hau wind farm Resource Consent confirmed
3 June 2005
NZ Windfarms has received confirmation of its Resource Consent for the Te Rere Hau wind farm from the Environment Court. Last month, the Company announced that it had reached an agreement with all appellants and the Palmerston North City Council.
"This means that we can continue our planning for Te Rere Hau with confidence," said Windfarms Chief Executive Officer, Chris Freear. "We intend to commence the construction of five Windflow 500 turbines on the site this summer. The overall project schedule will be confirmed once we have completed our initial public offering and our Joint Venture partners have completed their feasibility studies."
The Company, a wholly owned subsidiary of Windflow Technology, plans to list on the New Zealand stock exchange later this year.
Joint venture partners:
Babcock & Brown
Babcock & Brown Windpower is a wholly owned subsidiary of Babcock
& Brown Limited, a company listed on the Australian Stock Exchange
with market capitalisation in excess of A$2 billion.
Babcock & Brown has recently taken Prime Infrastructure Group (now restructured and renamed Babcock & Brown Infrastructure Limited) into its stable of companies and so now it owns Powerco - NZ's largest gas distribution company and second largest electricity distributor.
Babcock & Brown has very substantial experience in the development, financing and operation of wind and other renewable energy pjects. It is an active participant in power generation developments and energy markets in New Zealand, Australia and globally; and hence appreciates the dynamics of financing, developing and operating wind farms in a variety of different environments. Babcock & Brown has been developing financing strategies and structures that are specifically tailored to new renewable energy investments in Australia, Europe and the US over the past twenty years.
NP Power Pty
NP Power Pty is the Australian arm of National Power, a priate employee-owned
company formed in 1990. National Power develops, owns or operates smaller
and medium sized electric generating facilities in the US and Australia.
Over the past 20 years National Power owners and employees have been responsible
for projects to the value of US$ 13 billion and providing around 7,000MW
of generating capacity.
National Power has a long and close working relationship with Babcock & Brown, and in partnership with Babcock & Brown has successfully developed Redbank, a 145MW coal tailing power plant in NSW, Lake Bonney Stage 1, an 80.5 MW wind farm in South Australia, and the Alinta Wind Farm, a 90MW wind farm in Western Australia. In addition to these projects National Power in conjunction with Babcock & Brown is currently undertaking advanced development work in over 1,000MW of renewable generating projects.