Chch wind company seizes lucrative UK Energy offer
NZ’s first wind turbine installed in Westray in the Orkney Islands off the far north tip of Scotland.
CH CH wind company seizes lucrative UK Energy offer
Windflow Technology Ltd, based in Christchurch, has just installed its first exported wind turbine on the windy island of Westray in the Orkney Islands off the far north tip of Scotland.
Windflow is making the most of the UK’s current renewable energy Feed-in-Tariff. The company’s co-founder and chief executive Geoff Henderson says “The UK Feed-in-Tariff made our entry into the UK market a no-brainer. It means that owners of our turbines will typically enjoy a rate of return of at least 20 per cent, which is about five times the return achievable in the New Zealand market.”
Windflow are guests at next week’s Pacific Energy Summit in Auckland, which brings together leaders in the renewable energy field. UK Trade & Investment Deputy Director of Trade Barbara Harris is looking forward to the summit and says “With the growing geostrategic importance of the Pacific Islands, there is a mutual benefit to both the future success of the islands and UK companies. We are working closely with renewable energy companies in the UK to identify opportunities where they can assist in the Pacific.”
Windflow won the UK Trade & Investment’s prestigious UK market entry (UK-ME) business competition in 2010. Henderson says, "The competition was about fast tracking for British business success and the judges were probably well aware of the magnitude of the opportunity that faces Windflow by virtue of the feed-in tariffs."
We are keen to keep moving and to do our bit to turn the renewable energy targets of the UK and Scottish Governments into reality.”“We have three turbine installations under way in the Orkneys and will be actively pursuing other projects in the windiest parts of the UK.”
The UK has a target of renewable energy meeting 15% of its energy needs by 2020. Scotland aims to provide 100% renewable electricity and Northern Ireland 40%.