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Windflow CEO Encouraged by UK Progress

Windflow CEO Encouraged by UK Progress

UK landowners are motivated to invest in wind energy projects incentivised by a British Feed-in Tariff (FIT) scheme and based on use of Windflow Technology’s 500 kW turbine.

“Britain is now firmly a very large opportunity for us,” said Geoff Henderson, Windflow’s Chief Executive. “I have just returned from the UK and am encouraged by the high interest in our turbine and progress by our recently appointed UK distributor Ventus Green Energy towards turning that interest into orders. The fact that the FIT will be reviewed for turbines commissioned after March 2013 is creating urgency in the minds of rural landowners who stand to benefit most from this scheme.”

“The level of this incentive, combined with our world-class turbine, is a compelling investment opportunity,” said Henderson.

Ventus Green Energy has reported that, from a zero-base less than three months ago, customers have paid planning fees for 29 Windflow 500 turbines and as October 5, 12 planning consents have been submitted to local councils in Scotland. Ventus Green Energy reports that in the last few months they have received 260 enquiries and carried out over 50 site surveys for Windflow 500 turbines.

The New Zealand made turbine has a strong competitive position being one of few turbines available at the top of the 100-500 kW range which maximise the 18.8p/kWh generated that power retailers are mandated to pay in this project band. Depending on wind speed a single Windflow 500 turbine could earn gross revenue of £200,000 to £425,000 per year.

“Furthermore, the Windflow 500 is the only turbine in that band to have Class 1A (Edition 3) of the IEC Design Standard. Certification to this highest wind speed and turbulence Class has been undertaken by Lloyd’s Register. The 250-year old name of Lloyds Register is well-recognised in the UK. Their Type Approval Certificate is verification of our design excellence, and is complemented by the turbine’s excellent and growing track record at the Te Rere Hau wind farm in New Zealand.”

“Ventus Green Energy’s commercial package and experience offers landowners and their banks an easy and low risk way to own a Windflow 500 turbine. We recognise that there is a process to complete before the first orders destined for Scottish farms are confirmed,” said Henderson. “However, we intend to be in a state of readiness and we are working closely with Ventus Green Energy, our bankers, New Zealand Trade & Enterprise and the NZ Export Credit Office to support our objective of becoming an export manufacturer”.

Windflow will provide an update on the export initiative at its annual meeting later this month.

ENDS

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