About Us  |   Advertise  |   Contact Us  |   Terms & Conditions  |   RSS Feeds
 
Support our sponsors:
sharemarket
NZX 50 Index 3326.74 2.10
S&P/ASX 200 4282.90 7.80
Dow Jones Industrials 12884.00 5.80

Thumbs-up for Long Gully Windfarm

Monday 12th October 2009

Text too small?

Christchurch-based Windflow Technology is a step closer to securing a second buyer for its pioneering two-bladed turbines with approval of a resource consent for the Long Gully windfarm proposal behind Wellington.

MightyRiverPower, which recently took a 20% share in Windflow, would own and operate the 25 turbine, 12.5 Megawatt project, using Windflow 500 turbines, for which the Wellington City Council has now granted consent after relatively straightforward hearings.

"This development is an important step for Windflow, being our first distributed generation project in conjunction with MRP," said Windflow Technology Chief Operating Officer Tom Hooper.

Windflow Technology submitted the application to the Wellington City Council in May, and submissions closed in June. There were some 74 submissions on the proposal, with 38 in support, 28 opposing and eight with a neutral stance. The hearing took place over seven days in August.

The decision is subject to any appeals that may be lodged in the Environment Court.

Windflow is in dispute with its only other customer, New Zealand Windfarms, over international certification of the latest version of the Windflow 500, with Windfarms warning it will not make payments for turbines already installed or on payments until receiving an independent report on the implications of the non-certification, which Windflow says its expects to receive without difficulty.

Windfarms has also warned that it may not be a going concern, owing in part to tough trading conditions for windfarms, many of which are struggling to cover their operating costs at recent prevailing wholesale electricity prices, let along provide commercial returns.

MRP is not expected to decide quickly to build the Long Gully project.

Businesswire.co.nz

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.
Bookmark and Share   Printable version
Related News

Windflow prepares for liquidation
Windflow signs first U.K. turbine deal
Windflow warns of more losses to come
Windflow's loss blows out
Windflow Technology's turbine design gains crucial international certification
Windflow targeting $5-6 million loss
NZ Windfarms outlines $34m rescue rights issue
Windflow Technologies facing cash-flow crunch
Windflow welcomes mixed report on its turbines
Windflow trading halt lifted

Get quotes for Windflow Technology Limited Ordinary Sha (WTL)
NZX Annoucements for WTL
9 Feb 2012 ALLOT: WTL: Notice of Change in Issued Capital Stock - Ordinary Shares
7 Feb 2012 DIRECTOR: WTL: NZ Loses Renewables Pioneer - Windflow Chairman Barrie Leay
 
Windflow Technology Limited Ordinary Shares

Current quote:
WTL $0.32
Quotes delayed 20 minutes
Price when article published: $1.30

Previous News
FREE Email News
Breaking News 
After the Bell (daily) 

Unsubscribe/Update »

RSS feeds »
Twitter »
Facebook »

Stock Quote

Exchange: Stock Code:

Don't know the stock code? Search by keyword:

Today's Market Numbers
NZX 50 Index 3326.74 2.10
S&P/ASX 200 4282.90 7.80
Dow Jones Industrials 12884.00 5.80
Most Commented On
  forex centre
cfd centre
options centre
NZX 15 Index
AIA 2.48 -0.03
ANO 0.88 0.01
CEN 4.81 0.04
CNU 3.31 -0.01
FBU 6.59 -0.03
FPH 2.13 0.01
GMT 1.02 0.01
IFT 1.88 0.01
KIP 1.04 -0.01
MFT 10.10 0.15
RYM 2.84 0.04
SKC 3.52 0.02
SKT 5.10 -0.05
TEL 2.17 0.01
VCT 2.61 0.01

More market prices »

© Copyright 2012 Investment Research Group Ltd. All Rights Reserved.