Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Post Tongan Riot – Northpower’s Position


PRESS RELEASE

Post Tongan Riot – Northpower’s Position

Whangarei electricity company Northpower Limited today announced that the provisional sale and purchase agreement for the assets of the Tongan Electricity Business would not proceed as originally planned.

The company has been actively involved in the sale process since June of this year.

Chairman Warren Moyes said that the process had been structured in a way which required several conditions to be satisfied prior to settlement, including the completion of legislative changes via the final Tongan session of Parliament for 2006.

“Northpower has been 100% aware of the challenges of a transaction such as this and has worked with many groups to structure the deal to mitigate as much risk as possible” he said.

However recent events meant the transaction as originally planned was not now an option for the company. This plan would have seen Northpower purchasing the electricity distribution and generation assets across the four main islands of Tongatapu, Vava’u, Ha’apai and Eua.

Despite the recent unrest, Northpower was keen to maintain its links with the country Moyes said.

“Now more than ever Tonga needs to know that these historical relationships have substance and there may well be a role for Northpower in the future delivery of electricity to the Tongan consumers”, he said.

The Tongan network services some 20,000 homes across 1200kms of network on the four main islands.


END


© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Gordon Campbell: On The Panic In The Pacific Over China


For years, it has been no secret that China wants closer security and trade ties with the small nations of the Pacific region. All part of Beijing’s self-image as a global superpower. To that end this week, Chinese Foreign Minister Wang Yi embarked on an unprecedented 10-day tour of the Pacific, aimed at convincing his Pacific hosts to join a cross-Pacific agreement that would let Beijing provide them with high-level police training and security, shared data co-operation and other joint services ranging from agriculture to tourism...
More>>



 
 

Covid-19: Second Vaccine Booster For The Most Vulnerable
People who are at high-risk of getting very sick from a COVID-19 infection will soon be eligible to receive a second booster, COVID-19 Response Minister Chris Hipkins said today... More>>


Crime: Govt Helps Protect Shops From Ram Raids

The Government is providing further support to help Police protect small businesses affected by a spike in ram raids, Minister of Police Poto Williams says... More>>


Government: Investment Boosts Coastal Shipping In Aotearoa
New Zealand is a step closer to a more resilient, competitive, and sustainable coastal shipping sector following the selection of preferred suppliers for new and enhanced coastal shipping services, Transport Minister Michael Wood has announced today... More>>


PM Speech: Harvard University Commencement Speech - Democracy, Disinformation And Kindness

In Te Reo Māori, the language of the indigenous people of New Zealand, I paid tribute to all of the esteemed guests who stand here in this great forest of knowledge. It is a privilege to be here, and I thank you for the honour... More>>

Government: Independent Panel Appointed To Review Electoral Law
Justice Minister Kris Faafoi today announced appointments to the independent panel that will lead a review of New Zealand’s electoral law. “This panel, appointed by an independent panel of experts... More>>


Trade: Prime Minister To Visit United States
Prime Minister Jacinda Ardern is leading a trade mission to the United States this week as part of the Government’s reconnection strategy to support export growth and the return of tourists post COVID-19... More>>


 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels