July 17, 2012
New Zealand

NZ Windfarms performs below forecast

NZN | www.3news.co.nz 17 July 2012

New Zealand Windfarms enjoyed much higher electricity prices in its fourth quarter of full operations than in its first full half year, but generated less than the average of the first two quarters to perform below forecast, the company said.

The Tararua Ranges wind energy generator operates Te Rere Hau windfarm, using Christchurch-developed two bladed turbines from Windflow Technology, which continue to exceed noise levels required under the development’s resource consents.

“The court has made declarations which will require us to take considerably more actions to mitigate noise,” the company said in a statement on Tuesday to the NZX.

The company reported in the first half it had spent $322,000 on Environment Court costs relating to complaints about noise levels and monitoring.

With average electricity prices of $85.20 per Megawatt hour in the fourth quarter, ending June 30, NZ Windfarms reported revenue of $2.2 million for the period, compared with $3.6 million in the first six months of the financial year and average prices of $62.86 per MWh.

Wholesale prices in the fourth quarter of last year, when the development was not complete, were just $36.26 per MWh.

For the whole year, the Windfarms made total revenue of $8.3 million, turbine availability was 97 per cent, just above the 95 per cent specified by the manufacturers.

URL to article:  https://www.wind-watch.org/news/2012/07/17/nz-windfarms-performs-below-forecast/