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

 

New wind farm adds power to the economy

New wind farm adds power to the economy

“The new Te Uku wind farm showcases the benefits that wind energy provides to our economy,” says Fraser Clark, Chief Executive of the New Zealand Wind Energy Association.

“The wind farm’s Waikato location helps to highlight how our natural resources, including the wind, create a competitive economic advantage. Te Uku, like New Zealand’s other wind farms, will be among the most productive in the world, making good use of a high quality wind resource to generate cost-effective electricity.

“Te Uku also demonstrates that wind farms not only support other economic activity such as agriculture and tourism, but integrate into it. The new wind farm sits on productive Waikato farmland and overlooks the popular and scenic Raglan coast,” says Mr Clark.

“As a low cost and secure source of electricity that complements other local activities, the wind farm will help drive the region’s and nation’s future economic success.”

Te Uku is one of four wind farms currently being built. When these projects are complete wind capacity will sit at 623MW, and supply around 5% of our electricity.

The activity at the four sites represents over $300 million of direct investment, of which more that $30 million has been spent in the Waikato.

“As wind farms have no fuel costs and create no carbon emissions, this investment will result in cost-effective generation for the next 20 years and beyond. As well, this growth in wind total generation will add diversity to the electricity system, reducing the effects of the risks and uncertainties associated with hydro and thermal generation,” concludes Mr Clark.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Reserve Bank: Policy Lessons From A Year Of Covid-19

The Reserve Bank of New Zealand – Te Pūtea Matua was in a sound position to continue to meet its mandate in the face of the COVID-19 induced economic shock. However, we must continue to transform so as to remain relevant and effective in addressing longer-term challenges, Reserve Bank Governor Adrian Orr said... More>>


Transport Industry Association: Feb 2021 New Vehicle Registrations Strongest On Record

Motor Industry Association Chief Executive David Crawford says that the February 2021 figures are the strongest for the month of February ever. Registrations of 12,358 were 8.0% up on February 2020. Year to date the market is up 7.1% (1,735 units) compared to the first two months of 2020... More>>

Paymark: Lockdown Equals Slowdown For Some

The three days of lockdown for Auckland earlier this month made a clear impression on our retail spending figures. While only Auckland moved into Level 3 lockdown, the impact was felt across the country, albeit at different levels. Looking at the ... More>>

Infrastructure Commission: Te Waihanga Releases Report On Water Infrastructure

The New Zealand Infrastructure Commission, Te Waihanga’s latest discussion document highlights the importance of current reforms in the water sector. Its State of Play discussion document about water infrastructure is one of a series looking at the ... More>>


OECD: Annual Inflation Picks Up To 1.5% In January 2021 While Euro Area Records Sharp Increase To 0.9%

Annual inflation in the OECD area picked up to 1.5% in January 2021, compared with 1.2% in December 2020. Following a rebound between December and January, the annual decline in energy prices was less pronounced in January (minus 3.9%) than in December... More>>


Hemp Industries Association: Could The Next Team NZ Boat Be Made Entirely Of Hemp?

With The America’s Cup due to start in a few days’ time, innovators from a very different sphere have been wondering how long it could be before New Zealand could be competing in a boat entirely built from hemp, with the crew eating high-energy, nutritious hemp-infused foods and wearing high-performance hemp kit..? More>>


ACT: Matariki Almost A Half Billion Dollar Tax On Business

“Official advice to the Government says an extra public holiday at Matariki could cost almost $450 million,” ACT Leader David Seymour can reveal. “This is a perfect example of the Prime Minister doing what’s popular versus what’s responsible. ... More>>

Genesis: Assessing 6,000 GWh Of Renewable Generation Options For Development By 2025

Genesis is assessing 6,000 GWh of renewable generation options for development after starting a closed RFP process with 11 partners. Those invited to participate offer a range of technologies as Genesis continues to execute its Future-gen strategy to ... More>>