Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Trustpower buys Aust's Green State Power assets for A$72.2M

Trustpower buys Australia's Green State Power assets for A$72.2 million

By Tina Morrison

June 24 (BusinessDesk) - Trustpower, the electricity company controlled by Infratil, agreed to pay A$72.2 million for hydro power stations and wind farm assets of Green State Power from the government of the Australian state of New South Wales.

The Tauranga-based utility, which generates about 5 percent of New Zealand’s power and is developing a wind farm in South Australia, will buy the 58 megawatt Hume hydro power station on the Murray River, the 27.2 MW Burrinjuck hydro power station in South West NSW, the 7.2 MW Keepit hydro power station, the 9.9 MW Blayney wind warm and 80 percent of the 4.2 MW Crockwell wind farm, it said in a statement.

Trustpower said the assets would perform well within its existing renewable energy portfolio.

The transaction is expected to occur before the end of next month, produce around 270 GWh and contribute about A$8.5 million to group earnings before interest, tax, depreciation, amortisation and fair value adjustments in the first full year of ownership, Trustpower said.

Shares in Trustpower last traded at $7.05 and have advanced 8.3 percent so far this year.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: Wheeler Downplays Scope For ‘Large’ Rates Fall

Reserve Bank governor Graeme Wheeler says some market commentators are predicting further declines in interest rates that would only make sense for an economy in recession, although some easing is likely to be needed to maintain New Zealand’s economic growth. More>>

ALSO:

Ruataniwha Dam: Consent Conditions Could Mean Reduced Intensity

Legal advice sought by the Hawke’s Bay Regional Council on the Ruataniwha Dam consent conditions has confirmed that farmers who sign up to take water from the dam could be required to reduce the intensity of their farming operation to meet the catchment’s strict nitrogen limit. More>>

Health And Safety: Bill Now Sees Rules Relaxed For Small Businesses

Health and safety law reform sparked by the Pike River coalmine disaster has been reported back from the industrial relations select committee with weakened requirements on small businesses to appoint health and safety representatives and committees. More>>

ALSO:

Bearing Fruit: Annual Fruit Exports Hit $2 Billion For First Time

The value of fruit exported rose 20 percent (up $330 million) for the June 2015 year when compared with the year ended June 2014. Both higher prices and a greater quantity of exports (up 9.0 percent) contributed to the overall rise. More>>

ALSO:

Interest Rates: NZ Dollar Jumps After RBNZ Trims OCR

The New Zealand dollar jumped more than half a US cent after Reserve Bank governor Graeme Wheeler cut the official cash rate by a quarter-point and said the currency needs to be lower, while dropping a reference to criteria that justified intervention. More>>

ALSO:

Drones: New 'World-Class' Framework For UAVs

The rules, which come into effect on 1 August, recognise the changing environment and create a world-class framework that accommodates ongoing development while still ensuring the safety of the public, property and other airspace users. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news