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

 

NZ's Space Programme: Rocket Lab Makes It To Space (But Not Orbit)

Electron lifted-off at 16:20 NZST from Rocket Lab Launch Complex 1 on the Mahia Peninsula in New Zealand. It was the first orbital-class rocket launched from from a private launch site in the world. More>>

ALSO:

Earlier:

Budget: Irrigate (Good Times, Come On!)

Additional grant funding of $26.7 million over the next three years plus a capital boost of $63 million towards irrigation investments in Budget 2017 will deliver economic and environmental benefits through better use of water... More>>

ALSO:

Silver Fern Farms: Proposal To Close Fairton Sheepmeat Plant

Silver Fern Farms has advised its people of the proposal to permanently close the site, and has discussed potential transfer options to its other sites in the region as part of the consultation process...
More>>

ALSO:

MPI: Myrtle Rust Appears In Taranaki

The nursery in Waitara (just north of New Plymouth) reported suspected myrtle rust symptoms on young plants to the Ministry’s 0800 number yesterday (Tuesday). More>>

ALSO: