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JAMP
31-10-2005, 07:12 PM
I see the prospectus for the pending NZ Windfarms Limited IPO (http://www.nzwindfarms.co.nz) is now available for downloading.

I deem this to be at the more speculative end of the investment spectrum, but I am seriously contemplating picking up a small holding.

If I do commit, I'll be able to tag them at the "socially responsible" end of my investment portfolio spectrum. <grin>

Regards JAMP
NZX: AIA LPL MCH MVN NOG NOGOD PPG RBD SAN SKX SPN
NZAX: CVT SAT
Unlisted: BRK

CJ
31-10-2005, 08:34 PM
I dont see enough upside for it to be a speculative play.

if it does well, it is just another energy develper like CEN and TPW but without the economies of scale.

Where is the big potential upside like in tech, bio tech, oil stocks??

kura
01-11-2005, 12:48 AM
Good call CJ !!!

BRICKS
01-11-2005, 08:11 AM
quote:Originally posted by CJ

I dont see enough upside for it to be a speculative play.

if it does well, it is just another energy developer like CEN and TPW but without the economies of scale.

Where is the big potential upside like in tech, bio tech, oil stocks??


But without looking at the Details if they make it an earner ,pay div`s and keep adding to the field could be a Goer,, But up until now they don't have the know how and always on the small side to be effective you really have to look Beyond.. [8D]

Snow Leopard
03-11-2005, 10:38 AM
I have read the prospectus and can summarise it thus:
Ignore until the early 2008 when the half year report comes out to see if it is starting to generate positive operating income. Then monitor at 6 monthly intervals.

Seems to me this IPO is really an attempt to fund a "working trial" of the WTL wind turbine, which if successful will be:
One) good for WTL and hopefully let them sell this windmills to other customers.
Two) result in a windfarm company that will eventually starting paying a reasonable dividend (late 2009 but lacking imputation credits for a few years).

But you are not going to make any money on this for a few years IMO*.

regards
Paper Tiger

*IMO = in my opinion, tigers and other felines don't do humble :D

ananda77
03-11-2005, 11:23 AM
The problem:

Innovative design and technology enable these windmills to operate more competitive in higher windspeeds. This is advantageous especially in a country like New Zealand, but average windspeeds in Europe are much lower.

However, the biggest market for alternative energy generation including windpower remains in Europe, where favourable legislation demands a certain % of total electricity output from alternative sources by 2010...

-Forget about Australia as a major windpower generator for the next few years as they have a relative abundance of natural gas to satisfy demand and are looking at building a pipeline from PNG to import even more natural gas (actually, some of that might land in NZ via the contact energy/genesis LNG-projects)-

Will the local alternative electricity market 'big-grow' enough to create sufficient demand for these products to sustain this company in the forseeable future??...

Kind Regards

duncan macgregor
03-11-2005, 01:28 PM
Lot of proving to be done before i invest in this one. Meridian and trustpower both questioned the two blade British design before it blew its self to bits. I dont care if it was a one off shows a lack of understanding. macdunk

rmbbrave
03-11-2005, 03:42 PM
NZ has some of the cheapest electricity prices in the world

See...

http://www.eia.doe.gov/emeu/international/elecprii.html

How will wind electricity compete with hydro or thermal at these prices?

Halebop
03-11-2005, 04:08 PM
The real question is why are prices cheap? New Zealand has enjoyed cheap Hydro electricity generation, cheap'ish gas and thermal electric inputs/prices. Cost have also been kept down by making few infrastructural investments at the risk of stability. There aren't many options for us should an earthquake hit the national grid at strategic locations.

Now however we are at the point where Infrastructure needs building. Where risk management needs considering (Auckland's problems in the late 90's proved this). Our environmental and planning processes and laws have impacted our ability to generate power from water. Historical costs may well prove to be just that ...historical. The only financially cheap option left is coal and this seems more ulikely than dams.

Hello alternative energy. Quite an irony when Nuclear free NZ starts arguing the merits and pitfalls of reactors for "clean" power.

ananda77
03-11-2005, 06:46 PM
Halebop:

Yes, why not build a few nuclear power plants along known fault lines, therefore making New Zealand even more attractive for overseas tourists when the big fireworks start...

<center>(WOWHHH Nuclear Zealand - the green, clean loaded fault line country in the Pacific)</center>

Nuclear power simply will prove too expensive for a country like New Zealand -Forget It-

Kind Regards

pimpit
03-11-2005, 07:06 PM
The cheapest wind generator you can get in nz is $585.
It generates 200w at 40m/s wind speeds.
To get 1kw you need to have it running for 5 hours at top speed.

To buy 1kw hour off the power grid is only 17c.
I believe wind generator's have very poor rate of return for the investment.

http://www.jaycar.co.nz/products_uploaded/product_8930.jpg

CJ
03-11-2005, 08:52 PM
Pimpit - is that to buy outright? How long does it last?. My calcuations show it needs to survive for 2 years running at full speed non stop to break even. However, you would only get that if you weren't connected to the grid. To connect to the grid (because you are to far away) may cost $1000's. Plus, i assume they get more efficent as they grow bigger.

Wind (large scale)is currently bordering on being economic (otherwise they wouldn't build them). IF carbon taxes were introduced this should improve.

I though one of the problems with Nuclear is that it is just to big for NZ. ie One normal size station will supply the majority of our power needs, making transmission a major problem, and the major issues when you close it down (ie for maintenance or meltdown) if the majority of the country is relying on it.

Snow Leopard
04-11-2005, 04:46 AM
quote:Originally posted by pimpit

The cheapest wind generator you can get in nz is $585.
It generates 200w at 40m/s wind speeds.
To get 1kw you need to have it running for 5 hours at top speed.

To buy 1kw hour off the power grid is only 17c.
I believe wind generator's have very poor rate of return for the investment.

http://www.jaycar.co.nz/products_uploaded/product_8930.jpg

40m/s = 144km/h

BTW Are we talking about the windmill or the cow?

Snoopy
21-11-2005, 01:30 PM
quote:Originally posted by duncan macgregor

Lot of proving to be done before i invest in this one. Meridian and trustpower both questioned the two blade British design before it blew its self to bits. I dont care if it was a one off shows a lack of understanding.


NZ Windfarms are running open days the last three Sundays in November. So yesterday I went along to check the Gebbies Pass site out myself. It was quite refreshing in that instead of facing off to some media drone, you get to speak to the people who are actually driving the project, Chris Freear and/or Geoff Henderson face to face. In other words you get to ask the tough questions to the people who should know the answers, and are not fobbed off with some platitude! There is one open day left, Sunday afternoon next weekend (27th November), for those who haven't been up there to see it. The Windflow Turbine Site is normally closed to the public, (it's on private land) so I would encourage those who have some interest in power generation in general, as well as Windfarms in particular, to go out and have a look for yourselves.

Anyway, here is the theory behind the two bladed design. Over the wing span of the Windflow blade (which is reasonably large, comparable with a Boeing 737) the wind is not pefectly steady. Generally one side of the blade will have a slightly different wind force on it compared to the opposite side. There are two obvious ways to overcome this.

1/ Build the whole windmill structure to be enormously strong so that it can resist any wind nonuniformity - this is the path followed by the three bladed windmill designs.

2/ Adjust the pitch of the blade on either side of the (two bladed) windmill so that wind of different strength on each side of the blade produces a 'balanced' force on each side of the blade. This is the so called 'teetering' design. Doing it this way means that the whole tower structure can be lighter (less wind forces to resist) and therefore cheaper to make.

Now why can't a three bladed windmill 'teeter'?

Imagine you are on a 'see-saw' with 'big lump you' on one end and a light weight kid on the other. Even though there is a severe weight imbalance you can use your legs to 'regulate' the movement of the see-saw to give the kid a good ride. This is analagous to the two bladed windmill design with an unbalanced load on each blade.

Now imagine a different kind of 'see-saw' analagous to a three bladed propellor. In this design of see-saw there are three sitting positions spread evenly about the circumference of an imaginary circle - all at 120 degrees from one another. There is a single central pivot point, with 'Mom' 'Dad' and 'Kid' equally spaced around the circumference. Now you can see that 'Mom' and 'Dad' have to co-ordinate their efforts together to give the Kid a good ride. Now imagine that Mom and Dad and the Kid are suddenly swapped around from blade to blade. Even worse, their weights are randomly swapped around so that sometimes all three weigh as much as Dad, sometimes there is effectively 'one adult and two kids' and all the other weight combinations are cycled through on a random basis. Can you imagine trying to give a kid a good see-saw ride in that situation?
It would be almost impossible!

Of course balancing the wind forces on a two rotor wind blade isn't trivial either, but it is much easier than trying to do the same on a three bladed design.

Two other things make this project more viable than your average kiwi creation that comes out of the garden shed.

1/ You don't have to 'sell' the end line product. That's because there is already an established market for power so the risk of 'market failure' is as close to nil as you can get.
2/ The break even point of the technology, from a production basis, is as low as 60 units. IOW for the thi

BRICKS
21-11-2005, 01:43 PM
RIGHT Snoop now you are Balanced is it a BUY or NOT .. [8D]

duncan macgregor
21-11-2005, 02:09 PM
SNOOPY, Good post thanks for the explanation. I am inclined with the little bit of engineering study i did to still question two blades instead of four, or more. Its a bit like a car engine two cylanders vibrate more than six. The Dutch windmills had four blades never two i still am inclined to think that they have it wrong. My limited knowledge in this field tells me they have it wrong, the more blades the less noise, and vibration the blades can still be feathered in strong wind gusts. I wont buy in i am already exposed with TPW in this field but will keep an open mind on the company.
macdunk

Snow Leopard
21-11-2005, 05:42 PM
quote:
Now why can't a three bladed windmill 'teeter'? ...

... Of course balancing the wind forces on a two rotor wind blade isn't trivial either, but it is much easier than trying to do the same on a three bladed design.

Is this what they actually told you Snoopy?

Hinging rotating blades is a common practice to cope with differential and varying loads across multiple blades. The single (lifting) rotor helicopter did go really anywhere until this idea was applied.
The advantage of the windflow two blade design is the simplicity of the hinging mechanism. However using a constant velocity joint sort of arrangement it could be applied to a three or (to keep duncan happy) four or whatever blade design. The theory is simple the actual practice of applying it to several tonnes swirling round a horizontal axis is a little! more involved.

You may also be interested to know that the rotor (independent of the number of blades) balances itself out without any clever control device.

The big issue here, which blew the prototype apart, is that it can only cope with a finite degree of imbalance (upto when the hinge reaches the limit of the hinge movement). Exceed that and you need to go out and pick up the pieces.

Snoopy
21-11-2005, 07:14 PM
quote:Originally posted by Paper Tiger


Is this what they actually told you Snoopy?


Not in those exact words. You got the output from the Snoopy 'paraph****ometer'. The see-saw analogy was mine.


quote:
Hinging rotating blades is a common practice to cope with differential and varying loads across multiple blades. The single (lifting) rotor helicopter did go really anywhere until this idea was applied.
The advantage of the windflow two blade design is the simplicity of the hinging mechanism. However using a constant velocity joint sort of arrangement it could be applied to a three or (to keep duncan happy) four or whatever blade design. The theory is simple the actual practice of applying it to several tonnes swirling round a horizontal axis is a little! more involved.


I appreciate your powered flight acumen on this matter Paper Tiger.

However, what I think the Windflow people were trying to tell me (and I stand to be corrected) was that a wind turbine tends to be an order of magnitude larger than these transport applications. So the differential blade loading of wind gusting is much more of an issue.

Also with a plane or a chopper you can simply 'go with the flow' if a really strong gust of wind gets up. A wind turbine is anchored to the ground and so it must take the full force of whatever the wind throws at it.


quote:
The big issue here, which blew the prototype apart, is that it can only cope with a finite degree of imbalance (upto when the hinge reaches the limit of the hinge movement). Exceed that and you need to go out and pick up the pieces.


The wind turbine is programmed to shut down above a certain wind speed. I think I am correct in saying that it was stationary when it blew apart. The Windflow people know this because of the electronic data logging equipment on it. Something was mentioned about the bolting assembly on the nacelle being redesigned.

SNOOPY

Snoopy
21-11-2005, 08:01 PM
quote:Originally posted by duncan macgregor

SNOOPY, Good post thanks for the explanation. I am inclined with the little bit of engineering study i did to still question two blades instead of four, or more. Its a bit like a car engine two cylinders vibrate more than six.


I don't think your analogy is quite right Macdunk. Car cylinders are generally in different geometric planes turning a crankshaft. It is the out of balance forces and moments in the different geometric planes that gives an internal combustion engine its balance (or not so to speak). IIRC the 'straight six' cylinder engine is a theoretically perfectly balanced layout, whereas any smaller number of cylinders, or a V6, is not.

The windmill blades are all in one geometric plane.

Perhaps a more valid comparison would be with a radial aero engine. I don't think it matters much how many cylinders you have in a radial aero engine. It won't have large out of balance forces operating inside it.


quote:
The Dutch windmills had four blades never two I still am inclined to think that they have it wrong.


There may be some argument for four blades being more efficient. Certainly the commercial prop aircraft I see tend to have four blades and not two.

However, in the case of a wind turbine the power source is 'free', so efficiency isn't the number one goal. The goal is to extract as much power as you can from the wind available, and that can but doesn't always mean working your blade at maximum efficiency.

Of course if you had four blades, then the total blade structure you are supporting would be twice as heavy, and that has other implications for costs.


quote:
My limited knowledge in this field tells me they have it wrong, the more blades the less noise, and vibration the blades can still be feathered in strong wind gusts.


The 'noise point' was brought up. There is no denying that wind turbines do make a noise. The plan is to keep the noise 'broad spectrum' wherever possible. That means no annoying 'high pitched whine' or 'deep rumble'. Standing right next to the device -in admittedly low wind- we got a periodic 'deep woosh' as the blades went around. I wouldn't describe it as unpleasant any more than the sound of waves crashing in on a beach is unpleasant. Since 'the crash', Windflow have had another look at the gearbox design and have been able to make it quieter. I wasn't aware of any gearbox noise last Sunday, but that could be because the blade speed was so low on the day.

Having said that, noise annoyance can be a subjective thing.
The two houses that were closest to the turbine had no problems with turbine noise. The third closest house did. I for one would not be game enough to go and tell he/she of the third house that they are wrong.


quote:
I wont buy in I am already exposed with TPW in this field but will keep an open mind on the company.


Fair enough. Once the business model is proved you may find that NZ Windfarms will be 'put on the block' and a company like Trustpower might end up owning them anyway!

SNOOPY

Snow Leopard
21-11-2005, 08:02 PM
Snoopy:
It would be worth your while reading the WTL report on the event (http://www.wtl.co.nz/news/newsletters/Windflow500combinedsummary.pdf).
The turbine was rotating (but shutting down). I accept that this was an extreme event and understand what they have applied various remedies and that you can not cover every eventuality.

PS You do not need to be corrected.
PPS I have worked out what a paraph****ometer is, don't you just love the american's sense of sensibility and decorum?

lanenz
24-11-2005, 04:10 PM
quote:Originally posted by Paper Tiger


quote:Originally posted by pimpit

The cheapest wind generator you can get in nz is $585.
It generates 200w at 40m/s wind speeds.
To get 1kw you need to have it running for 5 hours at top speed.

To buy 1kw hour off the power grid is only 17c.
I believe wind generator's have very poor rate of return for the investment.

http://www.jaycar.co.nz/products_uploaded/product_8930.jpg

40m/s = 144km/h

BTW Are we talking about the windmill or the cow?
Definately not viable. On windless days that is why you need to cow there.When the cow farts it can generate some power but the fart tax at then works out more than the money genreated by the windmill. And that aint no bull.

duncan macgregor
25-11-2005, 12:32 PM
Forgive me guys for going slighly off topic, but i think rather than windmills we should place turbo pods anchored in the bottom of rivers, and harbour entrances. Out of sight no noise continuous power. MACDUNK is on to it drawings at the ready first prototype on the [ahem] horizon. We have rivers rushing to the sea harbours filling up and emptying out a little bit of thought a few bob thrown my way from you lot and we are in business. macdunk

Halebop
25-11-2005, 01:26 PM
Off topic too but wasn't there a New Zealand company about 15 years ago that tried producing mini hydro power devices? They had some mini turbine that could be placed in rivers without dams and produce power for 600 homes or some such. Can't remember the name...

BRICKS
25-11-2005, 01:38 PM
quote:Originally posted by Halebop

Off topic too but wasn't there a New Zealand company about 15 years ago that tried producing mini hydro power devices? They had some mini turbine that could be placed in rivers without dams and produce power for 600 homes or some such. Can't remember the name...


Well Lads its all been done before the USA gov spent heaps on it main trouble beside`s heaps more is the constante flow required it vary`s all the time so does the generation Factor.. [8D]

Snow Leopard
25-11-2005, 08:32 PM
Too stay off topic for another post.
If you want to use the flow of rivers build a damn dam and cope with the RMA.
If you want to go tidal then try synchronising the orbit of the moon with the peak demand of the consumers of New Zealand.
Meanwhile NZ Windfarms keep telling us how well the IPO offer is going but we can still apply for shares.

PS The announcement "NZ Windfarms Talking Corner Stone" is not a break-through in communications.

PPS I am looking forward to NZ Windfarms adding more variety to the Palmerston North vista*.

*Anybody know whether this windfarm will be visible from Woodville?

CJ
25-11-2005, 09:20 PM
The problem with wind, riverflow, tidal flow, waves and even the sun is that you cant guarantee it will be there when you need it. that is why you will always need dams/thermal/nuclear.

Snow Leopard
13-12-2005, 08:39 AM
Theoretically trading starts today in the heads (NWF) and options (NWFOA) for this one.
I am not expecting the turnover as for U2 tickets.
Actually I am not expecting this to trade at all.

Snow Leopard
25-01-2006, 01:46 PM
as a follow on from my last post well over a month ago, today sees the first trade in the head shares: 2,000 @ $1.20.

Still no trade in the options.

Disc: none

ratkin
10-10-2006, 06:21 PM
On campbell tonight, dosent look too good. Can see plenty of potential opposition to the things.
I certainly wouldnt want them nearby

Snow Leopard
11-10-2006, 12:21 PM
Did not see the programme but I have just seen the five turbines currently installed of which only three were operating.
They certainly look a little odd when compared to the three bladers of their TrustPower neighbours and the big Genesis turbines further along.

scamper
11-10-2006, 01:47 PM
the high central plain in spain has lots of relatively empty central otago/ desert road type land. when tour buses turn the corner and are suddenly faced with a horizon full of wind turbines, they all screech to a stop and the tourists leap out with cameras.

and not just japanese ones. scamper thought it was the most spectacular sight we'd seen for hours. they had grace, beauty, and mystery ... no doubt helped along by thoughts of don quixote and sancho.

there didn't seem to be any farmhouses (or castles) within cooee, and the spanish locals were very proud of their non-polluting windmills.

i'd be prepared to pay more for wind and photovoltaic energy. cheers.

Happy Camper
11-10-2006, 08:19 PM
PT, eight days ago this Happy Camper was visiting the turbines too. That wasn't you up there with your german shepherd was it?

A bit tricky getting the campervan turned around up there, but it was well worth the drive.

Cheers

Snow Leopard
12-10-2006, 07:04 AM
No Happy Camper, I was 500km away having lunch with my Dutch sharebroker.

nelehdine
12-10-2006, 10:33 AM
Good chance I own a small part of those Spanish wind turbines Scamper ... Bab****and Brown Wind Partners ( BBW: ASX ) ... cheap stock, currently at about $1.45 with performance fees paid to manager up to about $1.80 ( shares have fallen 25% from recent peak ) Wind farms in Spain, Germany, USA and Australia. Good dividend yield ( around 11.5cps ) and undoubted long term future. Put some along side you KIP's !! ( Cheap to A$ with your Kiwi one's at prtesent as well !! )

COLIN
14-10-2006, 12:56 PM
quote:Originally posted by nelehdine

Good chance I own a small part of those Spanish wind turbines Scamper ... Bab****and Brown Wind Partners ( BBW: ASX ) ... cheap stock, currently at about $1.45 with performance fees paid to manager up to about $1.80 ( shares have fallen 25% from recent peak ) Wind farms in Spain, Germany, USA and Australia. Good dividend yield ( around 11.5cps ) and undoubted long term future. Put some along side you KIP's !! ( Cheap to A$ with your Kiwi one's at prtesent as well !! )


I did some research following your mention of B & B Wind Partners, Enid/Helen, and as a result I bought 10,000 last week. I have viewed the wind generation game with a fair bit of cynicism up till now, but there seems little doubt that it is coming into its own and costs are coming down. I like the idea of investing in a wider portfolio and geographic spread than that offered by investment in NWF. I also agree that its a good time to be buying $A with Kiwi $s.
Thanks for the tip.

Ttops
12-10-2007, 05:14 PM
Windfarms up 30% since the recent malaise. Up 7% today on heavy volume, over half a million $ today Many have said it won't make much. Just a steady earner. Perhaps timing is everything :) Certainly trending back up OBV and all indicators looking positive. With the emphasis on 90% renewable this little one is sure to benefit.
Discl. Own a few. :D

Hope this is the best thread to continue?

Rif-Raf
12-10-2007, 09:10 PM
It's been interesting, the shares were trading from around 1.50 to 2.20 before the enormous cash issue and cornetone investment which on one hand is positive, but the sheer size in the increased capitalisation meant that the price was always going to drop heavily in the short term to somewhere around the rights issue price. Only now starting to show signs of shrugging that off. A few months back Amro Craigs had them as a buy with a target price of $1.60
This sector is getting a lot of interest now which I believe will continue.

Grimy
13-10-2007, 08:32 AM
It would be nice to think that you can combine the environment and business for a win/win outcome. I hold these shares, which I think will have a good, solid future. But I also remember my last great ethical investment...anyone remember the Environ IPO of the late 80's? And it was a great idea, probably wrong country, definitely wrong time!

upside_umop
13-10-2007, 02:41 PM
Good chance I own a small part of those Spanish wind turbines Scamper ... Bab****and Brown Wind Partners ( BBW: ASX ) ... cheap stock, currently at about $1.45 with performance fees paid to manager up to about $1.80 ( shares have fallen 25% from recent peak ) Wind farms in Spain, Germany, USA and Australia. Good dividend yield ( around 11.5cps ) and undoubted long term future. Put some along side you KIP's !! ( Cheap to A$ with your Kiwi one's at prtesent as well !! )

i like the windfarm concept, especially in nz with the carbon trading coming in.
i also like bbw as mentioned by neledine last year...looking good, might be worth a bite as its just a little more diversified than nwf.

duncan macgregor
13-10-2007, 02:50 PM
I like the concept of wind generation mixed with hydro, where one backs up the other. I think wind generation is all or nothing, and requires back up by hydro or some other generation, such as tidal or wave generation. The only company that fits the bill at the moment is TPW who are sitting in the box seat. I dont know of any other NZX company that has both at the moment but could be wrong. Macdunk

upside_umop
13-10-2007, 04:23 PM
why do you say that maccy dee?
unless you were a company, (like tpw) that sells to the end consumer there isnt really a need?
with windfarms, aren't they just wholesale electricity suppliers to the national grid, and given they run off averages per year it should concern them if they have a few still days.

Toddy
01-11-2007, 07:42 PM
So, whats the chances of the Windfarm Board being able to work with Stiassny. I'm picking a rocky road ahead for all involved.


Vector gets two seats on NZ Windfarms board

By NZPA
Thursday 1st November 2007

Vector chairman Michael Stiassny and acting chief executive Simon Mackenzie have been appointed to the board of NZ Windfarms.

Windfarms chairman Derek Walker said Vector got the right to take up the board seats when it bought 19.99% of the company earlier this year.

ratkin
06-12-2007, 04:46 PM
This company is fairly unloved at the present time , general market weakness combined with a percieved lack of activity or news has seen these slowy drift downwards.

There are a number of reasons why this drift may not last.

1) Carbon credits , sure to benefit from these in some shape or form

2) The government decision to allow no more fossil fuel power stations for ten years. Some saying electricity cost could rise dramatically because of this

3) Vector taking seats on the board should help to push things along.


Progress does seem rather slow at the moment , any idea when there going to be something to bring out the buyers?

rimu
06-12-2007, 06:32 PM
it's going to be a couple of years before nwf matures

but when it does... oh boy :)

ratkin
31-03-2008, 09:48 PM
This stock reminds me of the cheese ad "good things take time"
They are moving in the right direction but progress remains slow. Todays announcement is good news though , by the time they have all the turbines up at their first farm they should be ready to start on the otago project.
Recent noises from the government about sustainable energy is also very promising

WindPower Maungatua Ltd announced today that NZ Windfarms Limited has increased its 16.7 per cent shareholding in WindPower Maungatua to 50 per cent.
WindPower Maungatua holds the development rights to a promising wind farm site near Dunedin and Director David Tucker warmly welcomed NZ Windfarms’ investment.

ratkin
10-04-2008, 02:46 PM
A further 16 wind turbines have been ordered for Te Rere Hau wind farm, near Palmerston North.
Te Rere Hau Wind Farm, in which NZ Windfarms Limited has a 50&#37; shareholding, confirmed the order has been placed with Windflow Technology.
Sixty turbines have now been ordered.
Te Rere Hau has resource consent for 97 turbines and was scheduled for completion in mid-2009. Five turbines, commissioned in September 2006, are already in place. http://www.sharechat.co.nz/images/nzpa04.gif

Slowly but surely the plan is unfolding. Should be an increase in interest as the project moves forward

Stranger_Danger
15-04-2008, 06:34 AM
This stock reminds me of the Tui ad, not the cheese ad.

"Yeah right"

Rif-Raf
15-04-2008, 05:55 PM
I'm no chart expert, but looks like there is a breakout. With broker valutions at $1.60 and the IP valued at nil based on the cash issue price of $1.10 the the renewable energy starting to be told I think the Rat's assessment is reasonable.
I also noticed in SST they are advertising a few positions for technical experts.

COLIN
15-04-2008, 07:02 PM
I, too, have been starting to take a bit of interest in this one, and its associate Windflow Technology, particularly with all the talk about the attractiveness of the alternative energy sector. Well, that was until I got talking to a friend who is in a senior position in the energy technology area and he is of the firm opinion (backed by someone in a very key position in the energy sector, who is a well-known public figure but who I am not prepared to name) that Windflow's two-bladed turbines are quite the wrong way to go.
I respect these peoples' advice, but I leave it to you to make up your own minds.

CJ
15-04-2008, 08:14 PM
that Windflow's two-bladed turbines are quite the wrong way to go.

The europeans have been making them for longer and they ruled out the 2 blade design a while ago. Makes you wonder.

Kees
15-04-2008, 08:54 PM
Travelled through gebbies pass at least 6 times in the last 3 month's
nevr seen the thing turn yet ,

shane_m
15-04-2008, 09:32 PM
you don’t have to be a energy expert to work out wind generator is not the way forward

lets look at a cheap wind generator
http://www.jaycar.com.au/productView.asp?ID=MG4510

To make 1 Kw it has to run at full speed for 5 hours

1KW from energy retailer is about 17c.

wind generator is priced at 499.00, so to break even it has to generate 2935 kw.

multiply that by 5 to get 14676 hours of operation.

so wind generator need to run for 611 days or 1.67 years continuously.This is assuming the generator is running at full speed and there is plenty of wind and no break downs.

so unless you are in the business of manufacturing and servicing wind generators you are unlikely to make $$$

Unless 1KW of hydro power goes up to like 100c, it hard to justify a wind farm.

CJ
16-04-2008, 07:23 AM
Shane - I think the larger ones are more efficent. That means that after 1.5 years (assuming no maintanence), it is free power. Assuming it last say 20 years, that isn't bad. How long does it take to pay of a hydro dam?

On the other hand, I have a friend who built a self sufficent farm house. He choose solar as it was more efficent/cost effective than a wind turbine.

mondograss
16-04-2008, 08:32 AM
Reason the euros ruled out the 2 bladed design was partly because they didn't have the teeter-mount that WTL use, nor the torque limiting gearbox. 3-blades provide a more stable and even distribution of torque. BUT they still can't cope with extreme winds, which is why the WTL turbine is so good. It can use a lighter turbine and still cope with the big blows. Therefore, more efficient. The bg euro designs have constant gearbox problems as it is.

ratkin
29-05-2008, 01:19 PM
Here is a link to todays shareholder update. Its hidden away on their website ,, not easy to find

http://www.nzwindfarms.co.nz/publications/presentations/Shareholder%20Update%20-%20May%202008.pdf

Financially dependant
29-05-2008, 03:36 PM
Yes, took a while to find presentation on web site!

Looks like good reliability is being maintained in all wind conditions.

The IEC certification seems important, holding back orders for stage 4 until it is through.

These are on my watch list, if all goes to plan would be a good long term investment.

kiwi_on_OE
01-06-2008, 08:57 PM
I'd love to see an independent comparison of the pros and cons of the Windflow turbines. Windflow are obviously keen on them, but comments from other NZ electricity companies aren't positive, although that might just be PR spin for them choosing other turbines.

I see that the use of less concrete for a Windflow turbine is highlighted, but they don't clarify if that is less total concrete, or less concrete/kW. I assume the former as the turbines are significantly smaller, but I wonder if the latter is the case. Obviously if the concrete/kW is more then the overall cost/kW will be higher.

I wonder if Te Rere Hau JV might use the IEC certification as an excuse to choose another companies turbines. That could be a very big day for Windflow.

Financially dependant
01-06-2008, 10:09 PM
From what I have read, through structural engineering and the use of a steel mould (pictured in presentation) they have reduced the volume of concrete from stage 1 turbine construction.
They also quote that Windowflow turbines have a lower cost per kwh compared to other wind turbines.

I believe once the market believes the reliability to up to industrial standard (perceived or otherwise) then they should take off.

IMO fundamentally there is a lot of up side to Windflow.

Financially dependant
25-06-2008, 07:19 PM
I bought a few of these today and hoping this is bottom and to build a holding over time (in the dips), will be a good long term investment IMO.

At NZ$2000 per KW it has got to be the cheapest power investment.

Footsie
26-06-2008, 08:48 AM
bit out of favour at the moment NWF... but i hear from my broker that insto's are starting to get keen

LOL

Financially dependant
26-06-2008, 09:38 AM
bit out of favour at the moment NWF... but i hear from my broker that insto's are starting to get keen

LOL

Yes that does sounds like a worry:)

The latest Invester magazine also recommend to buy!

Financially dependant
27-06-2008, 12:37 PM
Yes, took a while to find presentation on web site!

Looks like good reliability is being maintained in all wind conditions.

The IEC certification seems important, holding back orders for stage 4 until it is through.

These are on my watch list, if all goes to plan would be a good long term investment.

WTL Ann out: good news on the certification front...

http://stocknessmonster.com/news-item?E=NZSE&S=WTL&N=166681

Raven
30-06-2008, 11:06 AM
Any ideas on what Mighty River Power's potential purchase of 20% of WTL will mean for NWF? Also the fact there is mention of WTL providing a 'turnkey' windfarm for Mighty River. I am surprised to think that WTL will now be entering windfarm construction. Will they outsource to NWF? The cash injection will be good for WTL, allowing them to continue research and cover certification cost, among other things. WTL stability and a more confident future has got to be good for NWF in terms of a more stable supplier. WTL still own a nearly 4% of NWF so don't think they would do anything that would hurt their investment. Comments anyone?

http://www.nzx.com/news/markets/4602388

CJ
30-06-2008, 11:26 AM
interesting as to date, no one has been willing to support the NZ technology 9apart from Vectors purchase of NWF).

NWF further seems uncertain. Technically they are just a windfarm and an independant supplier to the NZ grid. Any purchase of turbines from 3rd parties will be direct from WTL I would have thought.

Seems to me that WTL would be the one to buy if you want to benefit in any take up in the technology. With MRP buying in, i would expect to see a purchase from them which should give WTL a bit more credibility and then more sales??

Footsie
30-06-2008, 12:37 PM
have been thinking about this a lot

Why not just buy GE
biggest wind producers globally....... they also have solar too

price is off 50% due to market and buffet has just upped his stake

CJ
30-06-2008, 02:53 PM
Why not just buy GE
biggest wind producers globally....... they also have solar tooBecause they aren't a pure energy play. What else do they do. Big finance arm? general electric products ;) that compete with F&P? ...

Financially dependant
30-06-2008, 03:21 PM
Any ideas on what Mighty River Power's potential purchase of 20% of WTL will mean for NWF? Also the fact there is mention of WTL providing a 'turnkey' windfarm for Mighty River. I am surprised to think that WTL will now be entering windfarm construction. Will they outsource to NWF? The cash injection will be good for WTL, allowing them to continue research and cover certification cost, among other things. WTL stability and a more confident future has got to be good for NWF in terms of a more stable supplier. WTL still own a nearly 4% of NWF so don't think they would do anything that would hurt their investment. Comments anyone?

http://www.nzx.com/news/markets/4602388

Just another confidence boost IMO, the turbines seem to have eliminated the teething problems and running consistently after commissioning at Te Rere Hau. Maybe this is why Mighty River is getting on board (de-risked) and the fact that the new factory has plenty of capacity.

The future price of gas will one of the main indicators for good returns at NWF, high gas prices = high electricity prices (and dry years of course).

Raven
30-06-2008, 03:31 PM
I haven't looked at GE but have brought a very small parcel in NWF today. I've been thinking about it for a while and finally bit the bullet. Hopefully they will be able to capitilize on the tech advantage WTL turbines provide and their close relationship with WTL. I made quite a nice profit out of WTL but ditched them when they had their gear troubles. I like the fact NWF are protected from any unforeseeable tech problems WTL may have (Although I think they have ironed out most of them). I also like that while WTL is making the good tech, NWF will benefit from it. It'll be interesting to see a few more details about the deal and how shareholders react.

Raven
01-07-2008, 07:45 AM
I think they've been both risky and conservative on the TRH windfarm. By choosing the WTL turbines they were using a relatively unproven tech. A small number were installed intially to see how they went and fix any problems. I don't think WTL production could have coped with too many more any way. Now the teething troubles are hopefully out of the way things should be all go. Commitments to stage 2 and 3 have been made and installation should have started the end of last month (60 more turbines). The have said they are a couple of month behind what they planned but plan to catch up by progressing stages 2 and 3 more quickly. NWF have said they will get an independent advisor to assess WTL certification progress before commiting to stage 4 purchases. The shareholder update is very good to summarize progress so far. It's been posted previously but it's changed places since then.

http://www.nzwindfarms.co.nz/publications/presentations/shareholder/Shareholder%20Update%20-%20May%202008.pdf/view

Financially dependant
01-07-2008, 08:41 AM
I have done some back of envelope calculations...

Each WTL 0.5MW turbine (and connection to grid) costs about a million dollars to install not including any carbon credits.

With 45% wind factor & then 97% power factor the turbines should operate for over 3800 hours per year so

3800hr x 0.5MW = 1900 MWh

at 10c/kwh = $190,000 per year for each turbine, a gross profit of 19% pa. (average spot price 9.7c/kwh)

End of stage 3, 65 turbines = $12.35 mill income pa

Because of NZ energy situation (gas prices and peak oil etc) this could increase very quickly. The running time is very conservative because in the last statement the turbines had been running 86% of the time!

With money in the bank equaling the share price how can this not be a good investment? I am holding a few but want to build up more before they pay a dividend and the stampede starts!

Snoopy
01-07-2008, 11:37 AM
I have done some back of envelope calculations...

Each WTL 0.5MW turbine (and connection to grid) costs about a million dollars to install not including any carbon credits.

With 45% wind factor & then 97% power factor the turbines should operate for over 3800 hours per year so

3800hr x 0.5MW = 1900 MWh

at 10c/kwh = $190,000 per year for each turbine, a gross profit of 19% pa. (average spot price 9.7c/kwh)

End of stage 3, 65 turbines = $12.35 mill income pa

Because of NZ energy situation (gas prices and peak oil etc) this could increase very quickly. The running time is very conservative because in the last statement the turbines had been running 86% of the time!

With money in the bank equaling the share price how can this not be a good investment? I am holding a few but want to build up more before they pay a dividend and the stampede starts!


You might need to use a larger envelope Financially Dependent.

First of all those turbines may be rated at 0.5MW. But that doesn't mean they develop 0.5MW or nothing. The actual energy being delivered will be proportional to the wind speed (not linearly proportional), and that is a function of the wind profile of the site. Of course you would have to include the time of the wind speed being too high causing the wind turbines to shut down. Any particular wind farm is designed around a site's wind profile principally in accordance with the direction of the prevailing wind. However, when the wind swings round to a different direction, then this will likely affect the performance of the windfarm in a negative way. As you might imagine there is quite a bit of science in all of this. I believe that NWF were advertising not long ago for a full time specialist on this subject. I can guarantee that person will not be doing their calculations on the back of an envelope.

Also the 'average spot price' may be indicative when there is, overall, little variation in the spot price, and spot prices cluster around some kind of mean. However, I don't think that is true of the NZ power market. That means that 'when' you sell your power is actually very important. As the owner of a solely wind powered power generating power unit, NWF has no choice *when* they sell their power to the grid. A small operator will have to take whatever the spot price is. And that price might be consistently below the total cost of generation (which includes of course a charge against the capital costs of the structures) for months. Larger competitors, by bringing existing plant out of mothballs or choosing to close down a plant for maintenance, have the power to manipulate spot prices to do maximum damage to small competitors, like NWF.

Then you have the 'single site risk'. The power grid could be damaged locally precluding NWF selling any power at all, through no fault of their own. Alternatively a rogue hurricane might wipe out a large percentage of NWF's turbines. Sure these events are unlikely. But they are nevertheless part of the overall 'business case', and have to be priced in to any profitability probability model.

In summary, I like what you have tried to do in estimating a generation cost Financially Dependent. I recognise as do you I think that the costs and prices you have estimated are simplifications. I understand that you can build a business case around simplifying assumptions, if ou build a suitable 'safety factor' into your analysis. The safety factor you have built in Financially Dependent, does not convince me of the business case for NWF.

SNOOPY

discl: hold CEN

Financially dependant
02-07-2008, 09:02 AM
You might need to use a larger envelope Financially Dependent.

First of all those turbines may be rated at 0.5MW. But that doesn't mean they develop 0.5MW or nothing. The actual energy being delivered will be proportional to the wind speed (not linearly proportional), and that is a function of the wind profile of the site. Of course you would have to include the time of the wind speed being too high causing the wind turbines to shut down. Any particular wind farm is designed around a site's wind profile principally in accordance with the direction of the prevailing wind. However, when the wind swings round to a different direction, then this will likely affect the performance of the windfarm in a negative way. As you might imagine there is quite a bit of science in all of this. I believe that NWF were advertising not long ago for a full time specialist on this subject. I can guarantee that person will not be doing their calculations on the back of an envelope.

Also the 'average spot price' may be indicative when there is, overall, little variation in the spot price, and spot prices cluster around some kind of mean. However, I don't think that is true of the NZ power market. That means that 'when' you sell your power is actually very important. As the owner of a solely wind powered power generating power unit, NWF has no choice *when* they sell their power to the grid. A small operator will have to take whatever the spot price is. And that price might be consistently below the total cost of generation (which includes of course a charge against the capital costs of the structures) for months. Larger competitors, by bringing existing plant out of mothballs or choosing to close down a plant for maintenance, have the power to manipulate spot prices to do maximum damage to small competitors, like NWF.

Then you have the 'single site risk'. The power grid could be damaged locally precluding NWF selling any power at all, through no fault of their own. Alternatively a rogue hurricane might wipe out a large percentage of NWF's turbines. Sure these events are unlikely. But they are nevertheless part of the overall 'business case', and have to be priced in to any profitability probability model.

In summary, I like what you have tried to do in estimating a generation cost Financially Dependent. I recognise as do you I think that the costs and prices you have estimated are simplifications. I understand that you can build a business case around simplifying assumptions, if ou build a suitable 'safety factor' into your analysis. The safety factor you have built in Financially Dependent, does not convince me of the business case for NWF.

SNOOPY

discl: hold CEN

Thanks for the detailed reply Snoopy, this is exactly how I will learn.


With all elements like wind we can only estimate averages to obtain output, so I used used figures from wind associations (45&#37; wind factor & 97 % power factor) but on reflection they might be a little high. I calc'ed total average output of finished wind farm at 184 GWh pa but NWF estimated it to 160 GWh per year so might have to reduce % factors.

I will continue the research....

wind capacity factor http://www.awea.org/faq/basicen.html

Snoopy
02-07-2008, 10:56 AM
With all elements like wind we can only estimate averages to obtain output,


I think the above comment is unnecessarily limiting. I doubt if NWF would use averages. They would complile a histogram of wind speeds over time and work out the power output something like this.

For 1% of the time the wind speed is greater than 70knots (a pure guess figure) so the turbine will be shut down and deliver no power. For 3% of the time the wind will be between 60 and 70 knots so the power produced will be (blah1)kW. For 5% of the time the wind will be between 50 to 60 knots and will produce (blah2)kW. You then carry on through the speed range all the way down to '0 to 5 knots', the case for 10% of the time where no power will be generated. By doing this, you will get an answer quite different to using an 'average' figure that might be more appropriate if the wind had a normal distribution and the power generated did not depend on a 'cubic power law'.



I will continue the research....

wind capacity factor http://www.awea.org/faq/basicen.html


The above looks like a good source of information.

SNOOPY

Financially dependant
04-07-2008, 10:41 AM
Statement
NZ Windfarms Ltd
July 4 2008

Update on Te Rere Hau Project

Work has commenced on the erection of the 28 turbine towers, which represent
Stage 2 of the Te Rere Hau wind farm in the hills above Palmerston North.

This next batch of turbines will rest on innovative foundations that go into
the soil much like a tree root and require 40 per cent less concrete than
traditional gravity pad designs.

"The foundations are smaller and smarter and reduce earthworks by about 60
per cent," says NZ Windfarms' CEO Chris Freear. "The plan is to get seven
towers up and ready to go before we start bringing the turbines onto site."

The turbines - Windflow 500 machines designed and manufactured in New Zealand
- will begin arriving at Te Rere Hau later in the month.

Cabling is also well underway with Te Rere Hau reticulation completed, and
the new high-grade cabling to connect the wind farm to the national grid
being laid at present.

Mr Freear said it was expected that by the end of August, 12 turbines - seven
Stage 2 and the five Stage 1 turbines - would be connected and exporting some
6 MW to the national grid.

He also reports that over the past few months roads have been completed
throughout the Te Rere Hau development to access the Stage 3 and Stage 4
turbine sites, while preparation of the Stage 3 turbine crane pads has also
commenced.

Added to this preliminary work for the Te Rere Hau site building is underway.
The building will house the wind-smiths responsible for the smooth running of
the wind farm and comprises an office, a workshop and the wind farm's control
room.

In keeping with its objective to be a successful developer and operator of
small to medium wind farms primarily generating for regional consumption, NZ
Windfarms is researching and evaluating other sites around the country. The
company has a 50-50 joint venture with NP and Babcock and Brown Wind Power
for the Te Rere Hau wind farm.

For further information about NZ Windfarms visit www.nzwindfarms.co.nz

Snoopy
04-07-2008, 12:25 PM
What if the windfarm only sold electricity at peak time?

No I don't mean become a weather god - what I mean is using the electricty generated when the wind is blowing to store the energy in a lake ...

Thus a combined wind and hydro operator could choose when they sold their electrons ...

Exactly right Belgarian. So where is NWF's hydro operation that will enable them to dovetail in behind their existing windfarm and do this?

Likewise it woudl be an excellent strategy for Contact Energy to build a few windfarms so that they can offset their extensive hydro generation in this way. But hang on, that is what Contact are doing! From the 2007 annual report p7:

"Wind: Contact is also making good progress in the field of wind generation. The company is working on four potential wind farm sites across the country, which together will have the potential togenerate up to 950MW."

Now can you see why I am a CEN shareholder and not a NWF shareholder?

SNOOPY

Footsie
04-07-2008, 12:38 PM
what about WTL snoopy

are CEN likely to buy these 2 blade turbines?

seems Mighty river are keen

Snoopy
04-07-2008, 01:00 PM
what about WTL snoopy

are CEN likely to buy these 2 blade turbines?

seems Mighty river are keen

Mighty River are more than keen. They've all but got their Windflow turbines in the production queue, have they not?

Since Contact don't have a windfarm up and running yet, I am sure they will have Windflow turbines on their evaluation list. It does strike me that Contact are quite a conservative company though. They may go for the longer established overseas makers and their bigger turbines. The turbine deal might even come down to factory space availability and delivery dates. But I'm really just guessing. No inside information I'm afraid!

SNOOPY

Footsie
04-07-2008, 02:23 PM
So therefore is the preferred wind play WTL then over NWF?

Seems better to own the technology than just 1 wind farm....

I mean like you saw snoopy if you want to buy an electricty play better to stick to CEN.

manxman
04-07-2008, 02:38 PM
What if the windfarm only sold electricity at peak time?

No I don't mean become a weather god - what I mean is using the electricty generated when the wind is blowing to store the energy in a lake ...

Thus a combined wind and hydro operator could choose when they sold their electrons ...

Agreed the synergies between wind and hydro are impressive, but a brand new windfarm operator has to get the site and the capital and the consents to build both simultaneously, which is a big ask. So...

The total hydro resource in New Zealand is about 14,000 MWh per year. Set up an auction system for the water rights and sell the water off in tranches.
This would allow the windfarmer to puchase stored water to back the wind turbines, and thus allow the sale of windpower at top dollar, instead of the present system where the windfarmer at times gets screwed because his availability may not match the load.

This would also overcome our perenial power shortage problem, because the present system encourages the generators to create a wee shortage to get the price up. Every third year or so, they and nature, conspire to create a real big shortage. If large consumers (Comalco, NZR, pulp mills) could buy water at auction, then they would provide an important extra intelligence to the market. By husbanding their water they could force the timely start of thermal capacity so that we didn't spend so much time looking at lakebeds.

The owner of the water would choose when to use it, and simply pay a toll to the power station operator at the time of use. We have a lot of peaking capacity already built in to the hydro system (except at Manapouri), so we are ideally set up for wind/water cooperation, and almost all the storage belongs to Meridian and Mighty River, so it belongs to us.

Mx

upside_umop
04-07-2008, 03:32 PM
This sort of talk starts to remind me of Enron and how they were manipulating the California energy markets to make 'greater profits.'

Its not in the consumers interests to be charged higher prices, which would inevitably happen if supply was stored and used to be charged out at higher spot prices?

I suppose it could be argued two ways...

1) Its costing the consumer more

2) Its for the benefit of NZ as its carbon neutral and the stored energy could be used to reduce those peak times using gas/coal based products..

Interesting all the same.

Dr_Who
04-07-2008, 03:47 PM
Put it on the market so the public can buy and sell it. I would love to trade the energy market. It would be fun. :)

bermuda
07-07-2008, 09:04 PM
This annual lecture will be given by Geoff Henderson 15th July 8pm at the Town Hall. All welcome.

Financially dependant
08-07-2008, 09:09 AM
This annual lecture will be given by Geoff Henderson 15th July 8pm at the Town Hall. All welcome.

Thanks B, I might come along. I heard Geoff Henderson talk a few years ago but now I have a small holding of NWF I might listen more attentively:)!

Serpie
08-07-2008, 10:20 PM
Description:
Time: 8.00 pm start (not 6pm as advertised in newsletter)
Followed by supper

Venue: Christchurch Town Hall
Limes Room

Geoff will discuss economics, engineering and the environment in the context of the sustainable energy and climate change challenges facing society in the 21st Century. Economics can and should be used to reconcile the conflicting world-views of those who want to defend the environment with those who want to put humanity’s requirements first.

As this is open to the public please feel free to bring along friends and family.

Event Begins:
15/07/2008 Time 8.00pm

Cost:
Free

Contact:
james.park@opus.co.nz


Just watching CNBC. Boone Pickens says that windpower could be the answer to the USA's energy crisis, and is on a crusade to sell the story. Interesting viewing.

I'll look out for you at the lecture Super B. I'd say that you'd get given one of the good seats!

Footsie
09-07-2008, 08:52 AM
I agree wind and solar are the future

just not sure NWF is the best wind play

Financially dependant
29-07-2008, 03:07 PM
NWF are slowly moving in a positive direction, share price and developments at Te Rara Hue...

From WTL news letter 24:
http://www.windflow.co.nz/news/newsletters/Windflow%20Newsletter%2024.pdf

7 stage 2 turbines plus 5 stage 1 turbines to be commissioned and connected to the new grid by end of August. That's unrestricted power generation and increase in income.

Financially dependant
05-08-2008, 06:31 PM
Amazing performance today on such a bad day, second highest lift on the NSX. up 8.4%:).

The end of the month should be important milestone with 12 turbines coming on stream.

Raven
06-08-2008, 07:53 AM
Price seems to have bounced back to where it was sitting a few days ago. Mainly small buyers at the moment but good support building for the increasing price.:)

I wouldn't be surprised to see a small delay in installation due to the bad weather the last couple of weeks. They may have allowed for a few wet days so will be interesting to see. Fingers crossed the sunshine lasts and NWF can make the most of it.

mondograss
06-08-2008, 08:27 AM
Guys, the 8.4% lift in value was on the back of 2000 shares. Hardly what you'd call an increase in support. Liquidity is pretty key in these sorts of shares. When the volume starts to build as well, then you can start to celebrate a bit.

Footsie
06-08-2008, 10:54 AM
I thnk i will try and buy some now.

By the way, Phaedrus.
NWF must have broken out by now.

Raven
06-08-2008, 12:40 PM
Guys, the 8.4% lift in value was on the back of 2000 shares. Hardly what you'd call an increase in support. Liquidity is pretty key in these sorts of shares. When the volume starts to build as well, then you can start to celebrate a bit.


Quite right Mondo. I didn't word myself very well. I was trying to get across that a relatively large sale was enough to knockout the small orders at the highest prices. I thought that might be the case that a small rally had been squashed but a purchase back at the previous price gave me encouragement. It was also encourageing to see small orders being placed in behind the top bid. I should have said a small support at the current price was starting to form. Either way I'm happy it's going up and long may it continue.:)

Financially dependant
22-08-2008, 11:42 AM
New ann. out

http://stocknessmonster.com/news-item?E=NZSE&S=NWF&N=168998

slowly moving forward!

Phaedrus
22-08-2008, 12:27 PM
Phaedrus, NWF must have broken out by now.

Sure has. Here is a (belated) chart for you Footsie.

This chart illustrates the advisability of not acting on any single signal. You can see that because of the way NWF's downtrend was flattening out, many possible trendlines were broken without any comfirming buy signals from other indicators. Look at the final one though. While this was an unconfirmed trendline, its buy signal coincided with those from Momentum and slow Stochastic oscillators, as well as a break above the resistance at 94 cents that had held on 6 previous occasions.

There is a confirmed trendline in place monitoring the new uptrend.

http://h1.ripway.com/Phaedrus/NWF822.gif

scamper
22-08-2008, 01:46 PM
many thanks, Mr P.
my 'o goodie goodie' response is somewhat tempered by 'o dearie dearie' -- scamper bought some at 109, above which it has never travelled...

i've just bought another 'puter -- i don't recommend persevering with a decade-old model -- and am extremely hot and bothered trying to import stuff. have also changed to mozilla and have somewhere lost all my favourites, including my old free charting links. reuters, ozzie yahoo finance etc. bother.

my interest in wind energy has had me in bbw in aus -- what a shambles this week. am strongly reminded that buying shares overseas is dead dodgy unless you keep up with local newspapers etc. sharetrader forum had no interest in b&b stuff. maybe the new rule should be: never buy overseas shares unless they are well discussed in an accessible forum...
not a clever puppy, scamper.

Footsie
22-08-2008, 03:38 PM
NWF is a nice stable asset for you scamper...

you should sleep at night with this one.

NTA $1.04

Financially dependant
25-08-2008, 10:06 AM
Getting a little press....

http://www.nzherald.co.nz/section/3/story.cfm?c_id=3&objectid=10528556

delays to commissioning stage 2 turbines, now end of year should see them making money from 28 turbines (14MW).

Financially dependant
15-09-2008, 08:39 AM
NWF getting cheaper turbines then anyone else??:)

http://www.nzherald.co.nz/business/news/article.cfm?c_id=3&objectid=10532164

Some more info on NWF's progress...

http://stocknessmonster.com/news-item?S=WTL&E=NZSE&N=170043

On a more negative note, I have tried to contact New Zealand Windfarms through there web site twice with no reply so email'ed the CEO with same result. If this doesn't change I will be getting out soon, it is not a good way to deal with share holders or any one else for that matter:mad:.

Has anyone else tried to contact them??

ratkin
01-10-2008, 02:37 PM
Interesting little announcment out today.
NWF have ordered the final 32 turbines.

The interesting part is that babcock and brown, 50% partners in the project have yet to decide if they will pay half.
NWF say they will pay for all if need be.

Are B and B in trouble?

Financially dependant
01-10-2008, 03:11 PM
Interesting little announcment out today.
NWF have ordered the final 32 turbines.

The interesting part is that babcock and brown, 50% partners in the project have yet to decide if they will pay half.
NWF say they will pay for all if need be.

Are B and B in trouble?

B & B have been badly caught up in the credit crunch with to much debt haven't they?

Looks like NWF want to get on with the project, materials just keep going up in price and they are waiving the fact that complete certification is not through yet. One thing I have learnt in construction if the team is one site get as much out of them as possible.

Financially dependant
31-10-2008, 03:20 PM
The latest newsletter from Windflow which has up date on Te Rere Hua wind farm construction progress...

http://www.windflow.co.nz/news/newsletters/Newsletter%2025.pdf

NWF share price as had a pretty average period lately (to be expected I guess).

Billy Boy
31-10-2008, 03:54 PM
No e-mail responce !!!:mad:
Annual meeting Nov 6th
If some one is going please give them a Kicking over this e-mail thing
BB

Financially dependant
31-10-2008, 06:15 PM
No e-mail responce !!!:mad:
Annual meeting Nov 6th
If some one is going please give them a Kicking over this e-mail thing
BB

Yes I had the same problem, even emailed the the CEO! I left an abrupt message on the web site and eventually got a response. I told them what I thought of there web site and communications!

So now timing my exit!

Financially dependant
08-12-2008, 10:12 AM
As a few mentioned on this site, NWF have bought Babcock & Brown's share at Te Rere hau for $20.1 Million.

Sounds a lot but not sure how much has been paid for??

http://stocknessmonster.com/news-item?E=NZSE&S=NWF&N=173894

scamper
08-12-2008, 10:42 AM
It seems that the shareholders have to approve, OR a waiver from nzx rules could also make it happen. ummm.
all in all, i guess it's good news, but it's hard to evaluate whether $20.1 m is a good price to buy at.
i like the thought of all those turbines being ready within the next month.
thanks for the link Fin.dep. cheers.

Rif-Raf
08-12-2008, 12:36 PM
As a few mentioned on this site, NWF have bought Babcock & Brown's share at Te Rere hau for $20.1 Million.

Sounds a lot but not sure how much has been paid for??

http://stocknessmonster.com/news-item?E=NZSE&S=NWF&N=173894
I would say this is a good move. I'm sure with the seller being distressed they would have got it for a good price.

kiwi_on_OE
09-12-2008, 02:41 AM
TRH had a book value of $50.7m at 30/6/08 according to pg 32 of ann. rpt. I can only imagine that this will have increased in the last few months.

scamper
09-12-2008, 09:30 AM
weeeelll, in spite of posters above agreeing that it was 'probably' good news, the market is being its usual self according to the times -- full of despond...
currently the price has dropped to 68 cps, there are 6k buyers and 111k sellers.
the trend is all downward, and the chart is a no-go, don't touch sort of picture.
are the fundamentals strong enough to look forward to the time when its future is surely bright?
follow-up question, when is the time that its future is surely etc...

Financially dependant
09-12-2008, 11:43 AM
weeeelll, in spite of posters above agreeing that it was 'probably' good news, the market is being its usual self according to the times -- full of despond...
currently the price has dropped to 68 cps, there are 6k buyers and 111k sellers.
the trend is all downward, and the chart is a no-go, don't touch sort of picture.
are the fundamentals strong enough to look forward to the time when its future is surely bright?
follow-up question, when is the time that its future is surely etc...

NWF is a good long term investment, in time should be a good yield investment but ATM it suffering from general market sentiment as well as week energy (oil) prices. The acquisition is very positive if the price is right (from strong cash position)? The management are not communicating as usual which is my concern with this company (plus the crap web site) and market seems to be agreeing with me.

The best you get out of them is "We wouldn't have done the deal if it hadn't been attractive."?? says it all really.

http://www.stuff.co.nz/4786586a13.html

Rif-Raf
09-12-2008, 11:56 AM
TRH had a book value of $50.7m at 30/6/08 according to pg 32 of ann. rpt. I can only imagine that this will have increased in the last few months.

Good stuff k-o-o,so they've paid $20m for sométhing that according to their own books is worth at least $50m plus they now have total control of the asset. As long as the fundamentals haven't changed which I think is the tone of recent comments, it certainly looks like they have bought well. Plus its less risky investing in something that is a known quantity that they already have a stake in and can grow faster.

Financially dependant
09-12-2008, 01:07 PM
Good stuff k-o-o,so they've paid $20m for sométhing that according to their own books is worth at least $50m plus they now have total control of the asset. As long as the fundamentals haven't changed which I think is the tone of recent comments, it certainly looks like they have bought well. Plus its less risky investing in something that is a known quantity that they already have a stake in and can grow faster.

Quite right Rif-Raf/K o o just found this to back you up...

http://www.3news.co.nz/Market-update-for-Tuesday-9-December-2008/tabid/836/articleID/83418/cat/107/Default.aspx?articleID=83418#video

kiwi_on_OE
09-12-2008, 08:48 PM
Just to clarify my comments, and expand on the above. The $50m I mentioned was the total cost of the project, so 50% would be $25m. 3 news item implies/states that 50% cost is now up to $35m. Appears to be good buying by them.

Financially dependant
10-12-2008, 11:14 AM
It appears not everyone things it was a good buy....

http://www.stuff.co.nz/4788473a13.html

ratkin
10-12-2008, 12:02 PM
Dont think they are complaining that the assets are overpriced , just that NWF didnt make B and B suffer.

Interesting situation really, do you hope your partner goes into liquidation in the hope of picking up the pieces or do you offer a fair price.

Rif-Raf
10-12-2008, 05:12 PM
Dont think they are complaining that the assets are overpriced , just that NWF didnt make B and B suffer.

Interesting situation really, do you hope your partner goes into liquidation in the hope of picking up the pieces or do you offer a fair price.It may also be a case of maximising the overall investment of both pieces. It could be that if they waited to try and get a better deal that the NPV of the 50% that they own drops if it meant the project suffers delays, plus not wanting another party to buy the other half. Very difficult to pass too much commnet when we are not privy to all the commercial information.

BRICKS
11-12-2008, 09:38 AM
AS the shareholder now owns the BIZ 100% and the the company can forge on to
completion of the field what is not know and not stated is what one of these mills will
earn so it can be turned into PROFITS..

Financially dependant
11-12-2008, 10:29 AM
AS the shareholder now owns the BIZ 100% and the the company can forge on to
completion of the field what is not know and not stated is what one of these mills will
earn so it can be turned into PROFITS..

I asked NWF what there expected income will be as they have had turbines running on site for a year now (although on restricted capacity), so they must have all the weather conditions and performance data for that site. There (not very forth coming) response was within "designed criteria"!

BRICKS
17-12-2008, 07:20 AM
I asked NWF what there expected income will be as they have had turbines running on site for a year now (although on restricted capacity), so they must have all the weather conditions and performance data for that site. There (not very forth coming) response was within "designed criteria"!

BUT having read the last annual report in detail they are on the right track, however
cash & divs are a long way off all depends on the time you can wait most need the cash now
this is a long term wait and hope NO problems come out of the BLUE..

Financially dependant
17-12-2008, 02:42 PM
BUT having read the last annual report in detail they are on the right track, however
cash & divs are a long way off all depends on the time you can wait most need the cash now
this is a long term wait and hope NO problems come out of the BLUE..

Hi Bricks, whole heartedly agree..

I see NWF got there waiver!

http://stocknessmonster.com/news-item?E=NZSE&S=NWF&N=174314

Billy Boy
18-12-2008, 09:48 AM
There are strong rumours circulating in the Deep South in regards to the
Comalco Alum. Smelter..... It Could Close.
Now if it does, then all that electricity will be available to the Nationial
Grid.
Not so good for NZ Windfarms I would suggest.
BB

Nevl
18-12-2008, 10:08 AM
There are strong rumours circulating in the Deep South in regards to the
Comalco Alum. Smelter..... It Could Close.
Now if it does, then all that electricity will be available to the Nationial
Grid.
Not so good for NZ Windfarms I would suggest.
BB

Wow that would be major for NZ but I always thought that Comalco is one of the cheaper smelters in the world and any closure would I believe be temporary. With the fall in shipping costs I think that some of the expensive smelters will be shut down. Just wondering who would hold on the longest. Look at those in countries with more expensive power to go first.

However if that happens then I would have a sell on the Kiwi vs most of the major currencies. Still it would hurt the spot price and the Thermal generators as Manapouri power would go onto the spot market. Still transmission issues could limit the effect on the spot price.

Billy Boy
18-12-2008, 10:38 AM
http://www.stuff.co.nz/4791367a6011.html

Herewith a newspaper articial
BB

Financially dependant
19-12-2008, 02:37 PM
The Te Rere Hau farm is starting to make some money.....

http://www.windflow.co.nz/news/newsletters/Newsletter%2026.pdf

minimoke
19-12-2008, 03:04 PM
Now if it does, then all that electricity will be available to the Nationial
Grid.

Unfortunately no. It would be available to parts of the South Island but the transmission lines aren’t up to taking it any further. While there was investment in Manapouri the powers that be have let investment in the lines drift. They are busy biffing water away at the moment as Tiwai point can’t use it and the power would have no where to go.

pietrade
19-12-2008, 04:29 PM
The Te Rere Hau farm is starting to make some money.....

http://www.windflow.co.nz/news/newsletters/Newsletter%2026.pdf

Many thanks for the link. I'm happy to have both WTL and NWF. Cheers

Financially dependant
22-12-2008, 11:12 AM
I have been playing on the NZ wind energy association calculator..

http://windenergy.org.nz/wind-energy/calculator

At the end of January 09 NWF should have 40 turbines operating, on line unrestricted, the calculator tells me (with 46% power factor) that 40 turbines generate 81,000MWhr's at $96 per MWhr (average sell price p.a. from memory)

So income should improve by $7.8 million per year.

Each turbine cost about a $1 million so getting close to 20% gross return off each turbine. It will be interesting to see how much they paid in real terms for Babcock and Brown's share?

BRICKS
29-12-2008, 10:54 AM
I have been playing on the NZ wind energy association calculator..

http://windenergy.org.nz/wind-energy/calculator

At the end of January 09 NWF should have 40 turbines operating, on line unrestricted, the calculator tells me (with 46% power factor) that 40 turbines generate 81,000MWhr's at $96 per MWhr (average sell price p.a. from memory)

So income should improve by $7.8 million per year.

Each turbine cost about a $1 million so getting close to 20% gross return off each turbine. It will be interesting to see how much they paid in real terms for Babcock and Brown's share?


YOUR work sounds fine but when will returns begin this is a thing lacking in NZ
companies pure expansion makes NO money..

Financially dependant
02-03-2009, 07:16 PM
YOUR work sounds fine but when will returns begin this is a thing lacking in NZ
companies pure expansion makes NO money..

The first ann of the year and another 4 turbines commissioned......:confused:

http://stocknessmonster.com/news-item?E=NZSE&S=NWF&N=176814

It's like pulling teeth.....:rolleyes:.......and blaming contractors

Grimy
19-04-2009, 01:02 PM
I've just had a week in PN visiting family. The progress of the turbines looks good (don't ask me how many were up, I wasn't counting), but I don't think I saw a blade move (well once or twice very slowly). I lived in PN for 20 something years and I've never seen it so calm for so long! Don't expect any income this week.

BRICKS
20-04-2009, 10:51 AM
The company had a lot to say last year but 2009 not much this is always a worry
would like some sort of UPDATE..

Financially dependant
20-04-2009, 12:33 PM
The company had a lot to say last year but 2009 not much this is always a worry
would like some sort of UPDATE..

Yes I agree BRICKS.....not much from Windflow tech either...stage 2 should be commissioned by now, 2nd quarter is up!

Appointing Wyatt Creech as director is not exactly exciting either...

http://stocknessmonster.com/news-item?E=NZSE&S=NWF&N=178786

ratkin
20-04-2009, 12:40 PM
Are you kidding ? They didnt have much to say last year either , they just plod along , not much happening.

No wonder the cheese man Creech is aboard (good things take time)

Main problem i see is a lack of drive by the board. Take the Babcock and brown incident where they bought their share of the company , they didnt seem to try very hard to nail them down to a bargain price.

ratkin
29-05-2009, 06:04 PM
Shock , horror, an announcement.

Finally we have some detail on output etc. Any electricity experts on the forum who can translate the following into cash ?

This has shown by optimising the development and siting the
32 Batch 4 turbines in the extension area an expected annual energy yield of 153 Gigawatt
hours per annum is forecast from an installed capacity of 48.5 MW (97 turbines)


In the prospectus they forecast 150 gig from 100 turbines by 2010 now they say 153 gig from 97 turbines
At face value this looks as if they are on track and that the turbines are performing as expected.

Financially dependant
30-05-2009, 10:39 AM
Shock , horror, an announcement.

Finally we have some detail on output etc. Any electricity experts on the forum who can translate the following into cash ?

This has shown by optimising the development and siting the
32 Batch 4 turbines in the extension area an expected annual energy yield of 153 Gigawatt
hours per annum is forecast from an installed capacity of 48.5 MW (97 turbines)


In the prospectus they forecast 150 gig from 100 turbines by 2010 now they say 153 gig from 97 turbines
At face value this looks as if they are on track and that the turbines are performing as expected.



yes WOW an announcement..:eek:...I have been waiting months for this.....but lost patience and sold out...

The ann looks really good to me.....Without going into to much detail..... the prospectus forcast 159 GWhr from a 100 turbines (cost $1 million each to build) that's 1.59 GWhr per turbine on average. At a wholesale price of power $100/MWhr (10c KWhr) that's $159,000 return pa or 15.9% return on each turbine.

Now they have forcast 95 GWhr per annum from 56 turbines, that's 3.4 GWhr per turbine or $340,000 return pa (34%) on each turbine!

That's quite a big jump!

With cook strait cable still dodgy the whole sale rate in North island must be still as high as forecast if not better, they should be making good money!

Anyone else done some figures?? good to get some clarification..

Raven
30-05-2009, 08:14 PM
Looking at the latest spot prices things are a little lower than $100/MWhr. In the North Is the average weekly price for month of May ranged from about $40 up to just under $80. Prices were coming up towards the end of the month, which I guess is to be expected with winter kicking in.

http://www.electricitycommission.govt.nz/opdev/wholesale/mktrep/index.html

If you use the price of $40/MWhr, at $0.77 the completed project based on 153 GWhr is trading on a P/E of about 9.88,. At a price of $60/MWhr that drops to a P/E of about 6.59 and at $100/MWhr is 4.03. So depending on where you think power prices are going things don't look too bad. I'm not sure what the average wholesale price last year was or what people are predicting this year but I'd be interested to hear anyones predictions.

scamper
02-06-2009, 02:46 PM
scamper was also lined up to top up (which would actually be averaging down), but missed the button... aaaah, so sad.
but it is very light volume, maybe our time will be tomorrow when it drops back a bit.
11% rise on $12k sales is not a call for boots and all.

Raven
03-06-2009, 01:24 PM
In additional to my earlier post I found a report on the electricity commissions website. Haywards reference point in the North Island for the 2006 year the average price was $78.46, 2007 = $51.87, 2008 = $175. I think NWF puts there power through Haywards but I'm not entirely sure. Quite a variable price range, I guess alot to do with weather. Hope this is useful in peoples calculations.

http://www.electricitycommission.govt.nz/opdev/wholesale/statistics

Raven
11-08-2009, 02:38 PM
Not sure if this is good news or bad. We don't have the high grade turbines but we might get some money back on what we paid for them. Not good for WTL whatever the outcome.

NWF
11/08/2009
GENERAL

REL: 1407 HRS NZ Windfarms Limited

GENERAL: NWF: NWF - IEC CERTIFICATION

NZX Announcement

11 August 2009

For immediate release

IEC CERTIFICATION

NZ Windfarms Limited ("NWF") is over half way through the installation of the
97 Windflow WF500 turbines ordered from Windflow Technology Limited ("WTL")
for the Te Rere Hau project.

When selecting the Windflow WF500 turbines for use at Te Rere Hau, NWF
required that WTL agree to seek Class 1A Design Certification of the WF500
turbine in accordance with the International Electrotechnical Committee
Standard WT-01:2003 ("IEC Class 1A Certification"). NWF has placed orders
with WTL for 97 turbines in reliance on positive progress reports from WTL on
the certification process.

WTL has advised that the turbines supplied to date and yet to be supplied to
NWF for use at Te Rere Hau will not meet IEC Class 1A Certification standard.

NWF is now seeking expert advice to determine how material the difference
between the turbines supplied is from turbines that would gain IEC
certification. NWF is also reserving its position in regard to what
mitigation or remediation it will seek from WTL.

NWF's objective is to be satisfied that turbines supplied by WTL will be fit
for purpose on the Te Rere Hau site.

For further information contact:

Steve Cross
Chief Executive Officer
(03) 943 5410
End CA:00183358 For:NWF Type:GENERAL Time:2009-08-11:14:07:37

Grimy
11-08-2009, 06:42 PM
Have just been in PN for 4 days (Friday~Monday). Like my last visit I hardly saw a blade turn the whole time. Beautiful weather. Blue sky and not a breath of wind. Not the PN I grew up in and know!!
Shareholders certainly didn't get any return over that period.
Interestingly, the larger Vestas turbines seemed to be turning a bit more, but neither they, or our turbines were doing much.

Footsie
26-08-2009, 11:44 AM
how much further could this fall?

Footsie
28-08-2009, 04:32 PM
anyone else confused by that result?

Voltaire
28-08-2009, 06:46 PM
Confused and disturbed. This is a shining example of inept corporate communication. They're attempting to have it every which way, both "positive" and "cautious", but it's hard to see paragraphs like the following inspiring any confidence in the board or the share price:

"While the Board is confident in the Company's ability to continue as a going
concern, there is uncertainty with respect to achieving the operational cash
flows predicted and the raising of additional funding prior to utilisation of
available cash resources. Accordingly, there is uncertainty as to whether the
Company can continue as a going concern and therefore whether it will be able
to pay its debts as and when they become due and payable."

Hold onto your hats while the market digests this lot.

Disc. hold both NWF and WTL

Grimy
29-08-2009, 07:15 AM
"While the Board is confident in the Company's ability to continue as a going
concern, there is uncertainty with respect to achieving the operational cash
flows predicted and the raising of additional funding prior to utilisation of
available cash resources. Accordingly, there is uncertainty as to whether the
Company can continue as a going concern and therefore whether it will be able
to pay its debts as and when they become due and payable."[/I]


What the........?!

Grimy
29-08-2009, 07:28 AM
"The consequence of not having finalised its funding strategy is that there
exists at the date of this report an uncertainty that the Company is in a
position to pay its debts as they fall due."

"As highlighted in the December 2008 Interim Report, the most significant
event for the Company during this reporting period occurred on 8 December
2008 when the Company announced that its wholly owned subsidiary, NZWL-TRH
Limited, had reached an agreement with NPBB Pty Limited to purchase NPBB's
50% interest in the Te Rere Hau Wind Farm Joint Venture for $20.1 million in
cash. The first tranche payment of $18 million was settled on 17 March 2009
and the balance of $2.1 million is due on 17 September 2009."

Umm. I think they knew they had this payment coming up for a while. Surely they should be a bit further down the track with funding options??

Rif-Raf
01-09-2009, 07:38 AM
What a debacle this is turning out to be and auditors have tagged as not a going concern. The turbines aren't performing that well and haven't been certified and are probably going to have to be replaced. Lots of cost and delays to sort out and legal wrangles between WTL and NWF.
Grimy 's observations about never seeing the turbines turning sums it up

trendy
01-09-2009, 10:26 AM
Windflow 2 blade torque box and only 500kW are a POS. 500kW is not of a commercial size for wind farms being built today. Huge under utilization of available wind energy per acre.

Without IEC or equivalent recognized accreditation sales will not occur to credible developers.

NZ Windfarms should cut their losses now and go with a proven vendor that also has local (PN) maintenance and support available i.e. Vestas

Grimy
06-09-2009, 07:27 PM
Down in Palmy for a quick visit this weekend. As I was driving north via Cheltenham, the turbines were spinning (slowly, but spinning), a beautiful day (PN having far too many) with a gentle breeze.
Let's hope NWF and Wndflow sort themselves out. With Vector being a major shareholder I can't see NWF falling over, but for we small shareholders a bit more common sense and practicality wouldn't go amiss.

BRICKS
31-10-2009, 11:51 AM
What looks like a gold mine ends up like lead weight NO div this year or next why BUY the share lucky to be 50 cents only the faithful and believers must be hanging on or something
that has been MISSED..

Raven
02-11-2009, 07:38 AM
NTA/share is still at about $1.04. I don't normally use to estimate shares value so I would welcome comments by others. I expect there will be a significant depreciation on the turbines after WTL revelation that they won't have the high level certification. Anyone guessing by how much? Still some value in the turbines alone regardless of power output this year and I'm guessing it maybe more than $0.50/share. Comments?

Voltaire
02-11-2009, 01:04 PM
NTA/share is still at about $1.04. I don't normally use to estimate shares value so I would welcome comments by others. I expect there will be a significant depreciation on the turbines after WTL revelation that they won't have the high level certification. Anyone guessing by how much? Still some value in the turbines alone regardless of power output this year and I'm guessing it maybe more than $0.50/share. Comments?

I think the turbine certification issue has been vastly overstated by NWF who appear to be desperately hunting around for someone (else) to blame. The reason I'd be hesitating to buy NWF is the track-record of the board, not the turbines.

Disc. Hold both NWF and WTL

Raven
03-02-2010, 11:47 AM
Still waiting on the resource consent decision...... I emailed NWF yesterday and they got back to me quickly that they hadn't heard anything about it either and that they would publish it as soon as they heard. Surely the council pushing back the decision by a month was enough but they still can't deliver on the date they say they will. I'm not sure I'm surprised though. It is a council after all.

ratkin
03-02-2010, 11:54 AM
I sold out about a year ago based on the incompetence of the board. They worse than useless, have seen nothing since to make me consider buying back in.
They seem to have no get up and go whatsoever. They failed to beat a good price out of babcock and brown for their assets , seeming quite happy to play top dollar.
They havve shown no urgency in getting the turbines up .

My cat has more dynamism than that lot , and it sleeps eighteen hours a day

Silverlight
04-02-2010, 04:04 PM
RESOURCE CONSENT – TE RERE HAU EXTENSION

NZ Windfarms Limited (“NWF”) advises that it has received the decision of the Joint Hearing Commissioners in respect to the Resource Consent application for the Te Rere Hau Wind Farm Extension.

The Hearing Commissioners have granted land use consent for the 56 additional turbines applied for. NZ Windfarms is still reviewing the conditions attached to the consent. The decision and conditions will be posted on NZ Windfarm’s website www.nzwindfarms.co.nz soon.

nwood
22-03-2010, 06:37 PM
NZ Windfarms Limited announced that its Chief Executive Officer, Steve Cross, is employed under a contract which terminates on June 30, 2010. Steve has advised the Board that, for personal reasons, he does not wish to extend his contract, apart from on a short term basis through to August 30, 2010 to assist in a transition. The Board will immediately commence a review to establish the ongoing management requirements for the Company, and set in place a process to ensure that there is appropriate management capability in place for the Company from the end of Steve's contract.

Jaa
22-03-2010, 07:08 PM
Forget the CEO!

What do people think about the capital raising and rights issue?

8 for 3 at 15c. Record date 6th April.

Couldn't find anywhere where shareholders could apply for over subscriptions which is a pity as it sounds like they are going to struggle to get the money so shouldn't be turning down a free method for bringing in some more money.

Raven
23-03-2010, 08:26 AM
Yeah, I was hoping for an over subscription option as well. Seems a bit unfare Vector should get all the cheap shares. I'll be voting for the special meeting proposal though as they need the money. I still think the assets alone of NWF surely must be worth more than the current share price. Still a lot of unknowns floating about though, appeal to consent, dispute with WTL. WTL and NWF futures are very closley linked though so neither can afford to be too stubborn. Hopefully all is resolved sooner rather than later as the question marks are really weighing on the share price.

bryndlefly
23-03-2010, 09:03 AM
For me, the current share price is about a third of what i paid for them, a while back. taking this 15c offer will bring my average down to not much above current price, plus they're basically saying 'give us money or we'll go out of business' so i feel i don't have much option. It does feel like i'm throwing money into the wind though.

mouse
23-03-2010, 05:54 PM
For me, the current share price is about a third of what i paid for them, a while back. taking this 15c offer will bring my average down to not much above current price, plus they're basically saying 'give us money or we'll go out of business' so i feel i don't have much option. It does feel like i'm throwing money into the wind though.
If they need the cash then they must have rights that can be sold. Rights at 3 cents each?

svez01
23-03-2010, 07:10 PM
If they need the cash then they must have rights that can be sold. Rights at 3 cents each?

From my 'back of envelope' scribblings, I calculate the rights price to be 3.8 cents at the current share price.

Current SP = 29c
Value of 3 shares = 87c (3*29) + right to buy 8 more shares @ 15c
Total cost of 11 shares = 87 + 8*11 = 207c
Value of share after issue = 207/11 = 18.8c
=> Value of rights = 18.8-15 = 3.8c

In addition I have attempted to calculate the NTA per share after the capital rasing.

Number of shares after issue = 288mil (assuming issue is fully subscribed)
Market cap after issue = 288mil*18.8c = 54.2mil
NTA before issue = 65.7mil (from interim report)
NTA after issue = 65.7+31.4 = 97.1mil (again assuming issue is fully subscribed)
NTA per share after issue = 33.7c
Discount to NTA after issue = 44%

Let me know if you agree with my calculations.

This large discount to asset value seems significant to me. It seems likely NWF will be successful with there consent application to install a further 56 turbines adjacent to their current site. I am not sure what to make of the turbines not being granted IEC certification. NWF management have emphasised the importance of the certification, however does anyone have any idea of what the practical implications of not gaining certification are in the real world? It seems at this stage any problems with the turbines are being fixed by the manufacturer under warranty at their expense. Does anyone know if the consultant's report on this has been released to the public?

mouse
23-03-2010, 08:28 PM
The problem is, can they sell the electricity produced? And at what price. Will it be more than the cost of manufacture? What will be the maintenance costs, let alone the capital costs. Unless of course the shareholders consider their capital to be at no cost. The majority owners of course are useful as they can buy the electricity produced. So there is a sale, the problem is, how much profit?

Raven
24-03-2010, 08:17 AM
This large discount to asset value seems significant to me. It seems likely NWF will be successful with there consent application to install a further 56 turbines adjacent to their current site. I am not sure what to make of the turbines not being granted IEC certification. NWF management have emphasised the importance of the certification, however does anyone have any idea of what the practical implications of not gaining certification are in the real world? It seems at this stage any problems with the turbines are being fixed by the manufacturer under warranty at their expense. Does anyone know if the consultant's report on this has been released to the public?

Here is the summarised version of the report that WTL published on NZX.
http://www.nzx.com/markets/NZAX/WTL/announcements/3104130/Independent-Expert-Report-on-Windflow-500-Turbines

I believe the warranty extends to 5 years on each turbine so alot of the teething troubles should be sorted by then. It remains to be seen how the things mentioned in the report will be addressed. Prehaps an extension of the warranty for these particular design deficiencies. Who pays for the monitoring? The monitoring seems a cheaper option than retrofit in some cases. I'm sure they'll sort it out but who gets the perceived good side of the deal will be interesting.

As for the electricity prices the link below is a really interesting one. Electricity lately has been higher than last year. We'll see how it progresses through the winter.

http://www.electricitycommission.govt.nz/opdev/wholesale/mktrep

Raven
24-03-2010, 08:37 AM
The problem is, can they sell the electricity produced? And at what price. Will it be more than the cost of manufacture? What will be the maintenance costs, let alone the capital costs. Unless of course the shareholders consider their capital to be at no cost. The majority owners of course are useful as they can buy the electricity produced. So there is a sale, the problem is, how much profit?

The turbines have a few interesting design features that are supposed to make the installation and the turbine more economical. The teetering blades and torque limiting gear box are supposed to cut down on fatigue meaning the nacelle doesn't have to be built stonger and heavier which means less steel, which means the tower doesn't have to be built as heavy to support it, which means the concrete pad doesn't have to be built as big. All should save costs in production which flows into price paid for turbines. Earth works are less as well due to smaller concrete pad and being smaller turbines the roads needed to move the turbines to the site don't have to be as big and a single smaller crane can be used to install them. If you believe the brochure this should all combine to make a very cost competitive wind farm dspite not have the output of the bigger turbine farm.

http://www.windflow.co.nz/products

mouse
31-03-2010, 08:16 AM
The turbines have a few interesting design features that are supposed to make the installation and the turbine more economical. The teetering blades and torque limiting gear box are supposed to cut down on fatigue meaning the nacelle doesn't have to be built stonger and heavier which means less steel, which means the tower doesn't have to be built as heavy to support it, which means the concrete pad doesn't have to be built as big. All should save costs in production which flows into price paid for turbines. Earth works are less as well due to smaller concrete pad and being smaller turbines the roads needed to move the turbines to the site don't have to be as big and a single smaller crane can be used to install them. If you believe the brochure this should all combine to make a very cost competitive wind farm dspite not have the output of the bigger turbine farm.

http://www.windflow.co.nz/products
Many thanks for explanations. But they raise several questions. The windmills are small types. What happens if they fail after say seven years. Outside the guarantee period. Plus the manufacturer is only a small NZ company and may not be able to repair. If that happens, then are the towers and concrete foundations capable of having another type of windmill fitted. Or does NZWF have to bulldoze the lot and start again? Is there another windmill of similar size available? How much will it cost?
Next is the question of maintenance. Who is maintaining the system, NZWF staff, or the lowest tenderer? Not trying to be too negative, but these are major problems. Can someone answer them? :confused:

Voltaire
31-03-2010, 10:53 AM
Many thanks for explanations. But they raise several questions. The windmills are small types. What happens if they fail after say seven years. Outside the guarantee period. Plus the manufacturer is only a small NZ company and may not be able to repair. If that happens, then are the towers and concrete foundations capable of having another type of windmill fitted. Or does NZWF have to bulldoze the lot and start again? Is there another windmill of similar size available? How much will it cost?
Next is the question of maintenance. Who is maintaining the system, NZWF staff, or the lowest tenderer? Not trying to be too negative, but these are major problems. Can someone answer them? :confused:

Good questions, but to jump to "major problems" is a bit of a leap.

As I understand it, Windflow Technology has been arranging for maintenance and repairs under warranty to date - not sure why you think they may be unable to continue doing this in the future?

Why don't you email NZ Windfarms with your queries? I'm sure they're currently fielding many questions from shareholders and potential shareholders trying to assess the benefits of investing in the company. You could then post the reply here.

Disc. Hold both NWF and WTL

mouse
31-03-2010, 05:26 PM
Good questions, but to jump to "major problems" is a bit of a leap.

As I understand it, Windflow Technology has been arranging for maintenance and repairs under warranty to date - not sure why you think they may be unable to continue doing this in the future?

Why don't you email NZ Windfarms with your queries? I'm sure they're currently fielding many questions from shareholders and potential shareholders trying to assess the benefits of investing in the company. You could then post the reply here.

Disc. Hold both NWF and WTL

The job is not finished until it is maintained. Local knowledge of the system is vital. I am very concerned, if your post is correct, that Windflow are doing the maintenance. NWF has to know the full details of maintenance. Using their own staff. Further, the question of if the present generators fail is fundemental. Can they be easily replaced, or does NZW have to bulldoze the entire installation? Surely investors know the answer to this simple question?

Financially dependant
31-03-2010, 05:45 PM
IMHO I think WTL are still learning the wind farm business and they will continue to learn, NWF are office jockeys bean counting there way through the teething problems. The turbines are guaranteed for a minimum performance of availability which it seems are not there yet. The turbines are in some of the best wind resource in the world and so are being pushed hard, if they get it right here they can sell world wide. WTL will keep replacing the turbines until they go bust, with Tindel and the like as share holders I don't think that will happen.
So no I don't think NWF will bulldoze down the turbines but if the power spot rate keeps rising then the bean counters may be a little happier as they get through the problems.

mouse
01-04-2010, 07:59 AM
IMHO I think WTL are still learning the wind farm business and they will continue to learn, NWF are office jockeys bean counting there way through the teething problems. The turbines are guaranteed for a minimum performance of availability which it seems are not there yet. The turbines are in some of the best wind resource in the world and so are being pushed hard, if they get it right here they can sell world wide. WTL will keep replacing the turbines until they go bust, with Tindel and the like as share holders I don't think that will happen.
So no I don't think NWF will bulldoze down the turbines but if the power spot rate keeps rising then the bean counters may be a little happier as they get through the problems.

The quote sums up the problem with NWF. A little over twelve months ago there was an IPO? at $1.10? The shares have now traded down as low as 30 cents. Plus a cash call to just remain solvent of 8 new shares at 15cents for every 3 shares held. They cannot even get the financing right. And I am bothered about the engineering!!!!!!!

Steve
04-04-2010, 12:18 PM
Has the rights issue been underwritten?

Silverlight
05-04-2010, 11:18 AM
Not sure, If Vector maintain their 19.9% holding, this will be probably worthwhile as an low priced asset.

What did Vector originally pay?

Grimy
05-04-2010, 08:05 PM
Down in Palmy again. Turbines seem to be spinning nicely (well except for 1 that's stopped). It's hard to see how (barring turbine issues) this can't be successful.
I realise that the project is now fully funded by NWF which has led to the cashflow problems,but if projections are anywhere near close to accurate, and the things are spinning, then surely there must be some reasonable expectation that this will come right?
I don't care if Vector end up with a bigger hunk of the shareholding. The bigger their involvement, surely the bigger the chance of the company being supported to a successful outcome?

mouse
06-04-2010, 07:03 PM
Down in Palmy again. Turbines seem to be spinning nicely (well except for 1 that's stopped). It's hard to see how (barring turbine issues) this can't be successful.
I realise that the project is now fully funded by NWF which has led to the cashflow problems,but if projections are anywhere near close to accurate, and the things are spinning, then surely there must be some reasonable expectation that this will come right?
I don't care if Vector end up with a bigger hunk of the shareholding. The bigger their involvement, surely the bigger the chance of the company being supported to a successful outcome?

Were they generating electricity is the more important question.

Grimy
07-04-2010, 08:02 AM
Were they generating electricity is the more important question.

I guess you could phone and ask.

Steve
07-04-2010, 08:54 PM
Has the rights issue been underwritten?

I see in todays announcement that VCT are underwriting...

bryndlefly
08-04-2010, 10:45 AM
Rights issue record date has just passed, and with less buying pressure, i was expecting the shareprice to go a bit lower, but someones just sold at 22c, (from 37c) dropping the shareprice about 40%. Are they trying to to drive the price down? or just panic selling? i don't get it.

Voltaire
08-04-2010, 01:04 PM
Rights issue record date has just passed, and with less buying pressure, i was expecting the shareprice to go a bit lower, but someones just sold at 22c, (from 37c) dropping the shareprice about 40%. Are they trying to to drive the price down? or just panic selling? i don't get it.

Hi bryndlefly, a price of 37c with rights is equivalent to 21c ex rights ((37 x 3) + (8 x 15))/11 = 21

So 22c is actually an increase (of a little under 5%) on yesterday's price.

As of now (2pm) the price is 25c - a 19% increase on yesterday's price.

Looks like at least some buyers are optimistic about the capital raising and the future prospects of NWF.

Hope this helps.

Disc. Hold NWF

bryndlefly
08-04-2010, 02:24 PM
Hi bryndlefly, a price of 37c with rights is equivalent to 21c ex rights ((37 x 3) + (8 x 15))/11 = 21

So 22c is actually an increase (of a little under 5%) on yesterday's price.

As of now (2pm) the price is 25c - a 19% increase on yesterday's price.

Looks like at least some buyers are optimistic about the capital raising and the future prospects of NWF.

Hope this helps.

Disc. Hold NWF

Ah. thanks for explaining that. I'm fairly new to sharetrading, as you can probably tell... doh!

Voltaire
08-04-2010, 02:59 PM
Ah. thanks for explaining that. I'm fairly new to sharetrading, as you can probably tell... doh!

You're welcome and don't worry, you're in good company - rights pricing can trip the best of us.

mouse
08-04-2010, 04:23 PM
You're welcome and don't worry, you're in good company - rights pricing can trip the best of us.

I am a little furious that NWF are not accepting oversubscriptions for unsold rights from holders of rights options. This depresses the price of the rights and hands profit to big business, not small investors.
Comments please.

Silverlight
09-04-2010, 03:31 PM
I am a little furious that NWF are not accepting oversubscriptions for unsold rights.

Can you explain what you mean? I can't see any maximum threshold for the issue.

You can just go on market and buy as many rights as you want?

Grimy
09-04-2010, 06:07 PM
Leaving Palmy today-not a breath of wind (again). Nothing turning. Not the Windflow or Vestas turbines. Yesterday there was a nice breeze and turbines were turning steadily.
Was rather surprised at the percentage of NWF turbines stopped. Didn't count them all, but at least 6 or 7 were not turning. Maintenance? Not in service yet? Not a good look though.
I am right behind this company and will be taking up my rights, but am also still nervous.

mouse
09-04-2010, 06:40 PM
Can you explain what you mean? I can't see any maximum threshold for the issue.

You can just go on market and buy as many rights as you want?

Normally you can also buy 'extras' over and above your 'rights' that you have either bought or been allocated. So say you are allocated 2,000 'rights' you may decide to apply for 4,000 new shares at 15 cents. Not in this case. You only get the allocated amount with 1,000 allocated as the minimum entitlement. This reduces the value of the rights. Maybe if we could buy 'extras' the price of the rights would be 12 cents or more, bearing in mind that they are 8cents today. I think you will find that big buyers of shares will be sold all unallocated shares maybe at 17 cents each. Disgraceful behaviour by NWF.

Silverlight
12-04-2010, 01:20 PM
Disgraceful behaviour by NWF.

I still don't quite understand why this is disgraceful? A right to buy is issued for every share you own, or in this case 3 rights for every 8 shares. If you support the company and want to buy more then you can buy the rights on the market?

This is how every company has completed their rights issues in the past 18 months, FPA, NPX, KIP, NZX, PGW, were these also disgraceful?

mr.needs
12-04-2010, 03:30 PM
I still don't quite understand why this is disgraceful? A right to buy is issued for every share you own, or in this case 3 rights for every 8 shares. If you support the company and want to buy more then you can buy the rights on the market?

This is how every company has completed their rights issues in the past 18 months, FPA, NPX, KIP, NZX, PGW, were these also disgraceful?

I think the point mouse is making is that with the other rights issues you were able to apply for a number of new shares over and above the number of rights you held. For example, you may be entitled to 1000 rights, purchase another 1000 on market giving a total of 2000 rights. If the rights issue allowed over-subscriptions you would be able to apply for more shares than the 2000 rights allow. Lets say you apply for a total of 3000 shares, you are guaranteed 2000, but as the the issue was not fully subscribed you are also allocated another 500 (from the 1000 over-subscription). Now of course you could have just purchased an extra 500 rights on market to get you the same 2500 shares, but this would have cost you the purchase price of the rights (approx one third of the share price). In the example you do not have this cost. Over-subscriptions effectively allow you to apply for free rights! (which you may or may not be allocated depending on whether or not the issue is fully subscribed).

Obviously allowing over-subscriptions is desirable for small shareholders. If the issue is under-subscribed, the deficit is filled with the over-subscriptions coming from the small shareholders. What is most likely to happen in the case of NWF is the unsubscribed rights are effectively given to institutions or the underwriters for free.

I'm not entirely sure about all the examples you gave but I know that with the PRC rights issue last year over-subscriptions from small shareholders were allowed.

mouse
13-04-2010, 04:20 PM
I think the point mouse is making is that with the other rights issues you were able to apply for a number of new shares over and above the number of rights you held. For example, you may be entitled to 1000 rights, purchase another 1000 on market giving a total of 2000 rights. If the rights issue allowed over-subscriptions you would be able to apply for more shares than the 2000 rights allow. Lets say you apply for a total of 3000 shares, you are guaranteed 2000, but as the the issue was not fully subscribed you are also allocated another 500 (from the 1000 over-subscription). Now of course you could have just purchased an extra 500 rights on market to get you the same 2500 shares, but this would have cost you the purchase price of the rights (approx one third of the share price). In the example you do not have this cost. Over-subscriptions effectively allow you to apply for free rights! (which you may or may not be allocated depending on whether or not the issue is fully subscribed).

Obviously allowing over-subscriptions is desirable for small shareholders. If the issue is under-subscribed, the deficit is filled with the over-subscriptions coming from the small shareholders. What is most likely to happen in the case of NWF is the unsubscribed rights are effectively given to institutions or the underwriters for free.

I'm not entirely sure about all the examples you gave but I know that with the PRC rights issue last year over-subscriptions from small shareholders were allowed.


And that is the entire argument. Can investors have any confidence in NWF when they have stumped up with $1.10 a share only 12 months ago and now see their holding diluted in such a massive manner. Yet to reduce that dilution they have to buy extra rights which are given away 'for free' to major investors. The small shareholder should be very careful about NWF. I topped up PRC rights, but cannot do the same with NWF. Disgraceful. Shocking, behaviour by NWF.

mouse
13-04-2010, 06:25 PM
More comment on NWF. Link
http://www.briangaynor.co.nz/blog/2010/4/12/new-zealand-windfarms-who-runs-the-show.html
Make what you will of it. I am totally unimpressed.

Arthur
27-04-2010, 01:31 PM
Not to keen on the noise review announcement though.

kiora
06-10-2010, 02:09 PM
Some volume through today.Whos buying?Who''s selling???

bryndlefly
06-10-2010, 04:26 PM
wow, thats some volume alright - over 5.5 million (5,540,146)

Financially dependant
06-10-2010, 09:03 PM
wow, thats some volume alright - over 5.5 million (5,540,146)

Most of the turnover was from one transaction at 22c

1:56:30 pm 22 5,345,000 $1,175,900 Block Special Crossing

prearranged by the look of it

kiora
07-10-2010, 01:21 AM
Higher volume with selling presure over tha last 2 weeks than previous.Vector +/= Windflow Technologies buying/selling??? End of portfolio selling now?

bryndlefly
07-10-2010, 09:29 AM
as at 09:55:13, Thursday 07 October, 2010 (NZDT)
SSH: NWF: SSH (AMP Capital Investors (New Zealand) Limited )

NWF
07/10/2010 09:55
SSH

REL: 0955 HRS NZ Windfarms Limited

SSH: NWF: SSH (AMP Capital Investors (New Zealand) Limited )

Disclosure of movement of 1% or more in substantial holding or change in
nature of relevant interest or both
Sections 23 and 24, Securities Markets Act 1988
Relevant event being disclosed: A movement of 1% or more in the substantial
holding

Date of relevant event: 6 October 2010
To: NZX
And: New Zealand Windfarms Limited
Date this disclosure made: 7 October 2010
Date last disclosure made: 4 May 2010
Substantial security holder(s) giving disclosure
Name(s): AMP Capital Investors (New Zealand) Limited
Contact details: Amelia Hamilton, +64 4 494 2110,
amelia.hamilton@ampcapital.co.nz
Summary of substantial holding to which disclosure relates
Class of listed voting securities: Ordinary Shares

Summary for: AMP Capital Investors (New Zealand) Limited
For this disclosure,--
(a) total number held in class: 42,910,828
(b) total in class: 288,063,584
(c) total percentage held in class: 14.896%
For last disclosure,--
(a) total number held in class: 39,019,805
(b) total in class: 288,050,389
(c) total percentage held in class: 13.546%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure under the
instructions to this form: A purchase of 3,891,023 shares between
04/05/2010 and 6/10/2010.

Details of relevant interests in substantial holding after relevant event
Details for: AMP Capital Investors (New Zealand) Limited
Nature of relevant interest(s): Investment Manager and non-beneficial owner
of securities
For that relevant interest,--
(a) number held in class: 42,910,828
(b) percentage held in class: 14.896%
(c) current registered holder(s) of securities: AMP Capital Investors
(New Zealand) Limited
(d) registered holder(s) of securities once transfers registered: Not
applicable
Additional information
Nature of connection between substantial security holders: Not applicable

kiora
07-10-2010, 11:51 AM
NOTE The above announcement doesn't cover all the NWF traded in last week !!!

kiora
19-10-2010, 11:38 AM
NWF
19/10/2010 10:09
SSH

REL: 1009 HRS NZ Windfarms Limited

SSH: NWF: SSH (Tyndall Investment Management New Zealand Limited)

Disclosure of movement of 1% or more in substantial holding or change in
nature of relevant interest or both
Sections 23 and 24, Securities Markets Act 1988
Relevant event being disclosed: Disclosure of movement of 1% or more in
substantial holding
Date of relevant event: 7 October 2010
To: New Zealand Stock Exchange
And: New Zealand Windfarms Limited
Date this disclosure made: 19 October 2010
Date last disclosure made: 4 May 2010
Substantial security holder(s) giving disclosure
Name(s): Refer Schedule 1
Contact details: Yee Yang LEE ACIS ?Company Secretary for Tyndall
Investment Management New Zealand Limited Company Secretary New Zealand |
Corporate Secretary's Office | Suncorp NZ?DDI +64 9 363 2426 | Fax +64 9
363 2322 | Email yeeyang.lee@suncorp.co.nz
Summary of substantial holding to which disclosure relates
Class of listed voting securities: ordinary shares
For this disclosure,--
(a) total number held in class: 48,780,079
(b) total in class: 288,063,584
(c) total percentage held in class: 16.934%
For last disclosure,--
(a) total number held in class: 45,619,432
(b) total in class: 288,050,389
(c) total percentage held in class: 15.837%
Details of transactions and events giving rise to relevant event
Details of the transactions or other events requiring disclosure under the
instructions to this form: Refer Schedule 1
Details of relevant interests in substantial holding after relevant event
Details for: Refer Schedule 1
Nature of relevant interest(s) : Refer Schedule 1
For that relevant interest
(a) number held in class: Refer Schedule 1
(b) percentage held in class: Refer Schedule 1
(c) current registered holder(s) of securities: Refer Schedule 1
(d) registered holder(s) of securities once transfers registered: Refer
Schedule 1
Additional information
Nature of connection between substantial security holders: Tyndall
Investment Management New Zealand Limited.
Address(es) of substantial security holder(s): P O Box 3892, AUCKLAND 1010
Name of any other person believed to have given, or believed to be required
to give, a disclosure under the Act in relation to the securities to which
this disclosure relates: N/A
Declaration
I, Yee Yang LEE, declare that, to the best of my knowledge and belief, the
information contained in this disclosure is correct and that I am duly
authorised to make this disclosure by all persons for whom it is made.
End CA:00201157 For:NWF Type:SSH Time:2010-10-19 10:09:50

Grimy
21-07-2011, 07:01 PM
Up 25% today?

Blendy
21-07-2011, 10:35 PM
isn't the next stage due to be ready about now?

bryndlefly
28-02-2012, 10:57 AM
"Based on our current forecasts we expect a profit before depreciation, amortisation and tax of approximately $4.43m for the whole financial year (2011 – loss of $3.38m). Including depreciation, amortisation and tax the forecast loss for the whole financial year is $0.43m (2011 – loss of $3.38m)."
https://www.nzx.com/companies/NWF/announcements/220096

So... are they forecasting a profit or a loss? i recently bought more NWF shares because a recent announcement said: "We are forecasting a profit for the year ended 30 June 2012. The Company will be generating positive operating cash flows." Feeling a bit annoyed now.

winner69
28-02-2012, 11:17 AM
"Based on our current forecasts we expect a profit before depreciation, amortisation and tax of approximately $4.43m for the whole financial year (2011 – loss of $3.38m). Including depreciation, amortisation and tax the forecast loss for the whole financial year is $0.43m (2011 – loss of $3.38m)."
https://www.nzx.com/companies/NWF/announcements/220096

So... are they forecasting a profit or a loss? (I'm not an expert in these things)

I'd say an overall loss of $0.43m

Seems strange that last year EBITDA and NPAT was the same ..... are they mistaken here?


Pity the wind did not blow as much as it was meant to eh?

Financially dependant
28-02-2012, 01:35 PM
Pity the wind did not blow as much as it was meant to eh?

I hope they don't use the wind excuse every year.....with total assets of $114,500,000 and a forecast of $7,000,000 income that sounds light and about half of want was estimated in the prospectus (from memory)! no dividend for the foreseeable future either.....

I haven't owned them for a while but wanted too...

JAYAY
13-05-2013, 08:30 AM
NWF looking really cheap now and some relatively large volumes going through.
Does anyone have any views on the following?
1. How are they looking with regard to stoush with Palm. Nth. CC re noise issues?
2. Have they dealt satisfactorily with taking over maintenance and warranty issues from WTL?
3. How much are they affected by Greens/Labour scheme re NZ Power?
4. Are they likely to pay a dividend this year?
5. Do they look like good buying at current price - around .08c?

duncan macgregor
13-05-2013, 01:59 PM
NWF looking really cheap now and some relatively large volumes going through.
Does anyone have any views on the following?
1. How are they looking with regard to stoush with Palm. Nth. CC re noise issues?
2. Have they dealt satisfactorily with taking over maintenance and warranty issues from WTL?
3. How much are they affected by Greens/Labour scheme re NZ Power?
4. Are they likely to pay a dividend this year?
5. Do they look like good buying at current price - around .08c?I would think NZ will have surplus power when the smelter closes down. This along with other power sources will compete for a shrinking market. It will then be a case for survival of the fittest. How much debt cost of production all that will come into the equation. The cheapest cost to produce will then be a major factor deciding if this is a buy or a sell. Its not really a good sector of the market to get into at this moment in time. Macdunk

bryndlefly
29-08-2013, 06:41 PM
Preliminary full year results out. Has the wind really blown less than average for the last four years?
2013: “The main factor leading to the poor performance in FY2013 was the lack of wind. It was below average in both direction and speed.”
2012: “The financial result from our wind farm operation was not as good as expected. The main reason is that FY2012 turned out to be a very poor wind year”
2011: “Last year has been a very low wind year”
2010: “the projected income from electricity sales was not achieved as the wind resource was lower during May and june than the projected long term average resource”
According to this map the Tararua ranges are one of the windiest parts of NZ, I don't get it.
4762

Grimy
29-08-2013, 07:39 PM
I've posted a couple of times when I have visited Palmy, and have mentioned the comparative lack of wind and windmills not rotating. I lived for 20-odd years in PN, so have something to compare the wind conditions to. I'm not surprised my observations are backed by company data.
If I wasn't a holder I'd probably enjoy the irony of "climate change" (let's not get into a debate on that) being a factor in the poor performance of clean, green alternative power.........

Scottman
30-08-2013, 11:33 AM
Certainly did money with these guys. Was in on the IPO. Think I sold at 15 cents. More careful this time around.

bryndlefly
30-08-2013, 12:48 PM
Have sold my NWF shares after first buying into them in 2007. My patience with, and optimism for this company finally ran out. Oh well, hopefully i've learned a lesson.

bryndlefly
30-08-2013, 01:41 PM
Have now invested all my money in DIL... He he, no as much as i like putting my money into down-trending shares, i might give that one a miss. A year or two ago would have been a good time to buy by the looks. I'll need to get hold of a time travelling DeLorean.

BlackPeter
21-01-2014, 09:20 AM
Second quarter earnings are out ... https://www.nzx.com/files/attachments/188275.pdf;

Both output and achieved prices lower than same quarter last year (which wasn't flash either). Still - believe they are currently undervalued .. and might declare this year a dividend, which would bring the SP up.

Call me stupid - but still holding ...

Bobcat.
21-01-2014, 09:37 AM
Second quarter earnings are out ... https://www.nzx.com/files/attachments/188275.pdf;

Both output and achieved prices lower than same quarter last year (which wasn't flash either). Still - believe they are currently undervalued .. and might declare this year a dividend, which would bring the SP up.

Call me stupid - but still holding ...

I'm still holding as well, BP - in fact topped up just last week. Your theory may be confirmed by the fact that in spite of this lacklustre result, nobody is yet selling down, and there is still someone hungry at its new support level of 6.8c.

Like you, I expect that now this bad news is out of the way, the sp will stagger upward. A windier Manawatu and dry winter of course would help.

BC

ratkin
28-02-2014, 11:20 AM
How can this lot be so useless?

Was in Cornwall England recently and there little windfarms everywhere , i assume most make a bit of money as they have been there many years. How do NWF do so badly?

NWF in their report......... prices were impacted by HIGH hydro lake storage levels
MRP in their report..........prices were impacted by LOW hydro lake storage levels

Bobcat.
28-02-2014, 11:39 AM
I suspect that they are under the hammer with the Palmerston Nth City Council's legal action in the Environment Court and the fact that they are about to lose some leadership - their Chairman was well as Mike Allen are resigning - will not help matters.

Still holding, but with more wishful thinking now than I'm comfortable with. Hopefully the solid support at 6.7c will hold and we can now get an overdue lift in the sp ...but I think it's more realistic that the uncertainty around the Council appeal will provide an overhang until that's sorted. Who knows when? This council seems to be quite content on spending rate payers' money to win at all costs.

BC

mcdongle
28-02-2014, 12:10 PM
How can this lot be so useless?

Was in Cornwall England recently and there little windfarms everywhere , i assume most make a bit of money as they have been there many years. How do NWF do so badly?

NWF in their report......... prices were impacted by HIGH hydro lake storage levels
MRP in their report..........prices were impacted by LOW hydro lake storage levels

I think windfarms in the uk are subsidised

JAYAY
28-02-2014, 03:12 PM
I suspect that they are under the hammer with the Palmerston Nth City Council's legal action in the Environment Court and the fact that they are about to lose some leadership - their Chairman was well as Mike Allen are resigning - will not help matters.

Still holding, but with more wishful thinking now than I'm comfortable with. Hopefully the solid support at 6.7c will hold and we can now get an overdue lift in the sp ...but I think it's more realistic that the uncertainty around the Council appeal will provide an overhang until that's sorted. Who knows when? This council seems to be quite content on spending rate payers' money to win at all costs.

BC

I recall figures being mentioned at the last AGM that PNCC had spent in excess of $1m fighting this, all on account of a very tiny but determined lobby group of about 20 people wielding excessive influence at the Council. I bet not everyone at the council is happy about it.

Airw0lf
01-03-2014, 09:53 PM
NWF in their report......... prices were impacted by HIGH hydro lake storage levels
MRP in their report..........prices were impacted by LOW hydro lake storage levels

Actually both statements can be mostly true.

In October, November, December 2013 (and indeed Jan 2014) South Island hydro lakes were getting pretty good dumps of water which in turn saw good generation out of the South Island and the wholesale price trending downwards. This could have hurt NWF, especially if their wind output did not correlate well with peak demand times and so forth.

In MRP's case their own hydro situation was steadily getting worse over the same period through consistently lower than average rainfall around Taupo. Therefore MRP were unable to generate as much as they would expect to on average, resulting in lower hydro generation revenue. Price wasn't so much the issue MRP were highlighting as just a lack of quantity to offer into the market. IMO anyway.

Bella52
03-03-2014, 09:58 AM
How can this lot be so useless?

Was in Cornwall England recently and there little windfarms everywhere , i assume most make a bit of money as they have been there many years. How do NWF do so badly?

NWF in their report......... prices were impacted by HIGH hydro lake storage levels
MRP in their report..........prices were impacted by LOW hydro lake storage levels

poor management! Vector's mates. although in UK they are subsidised by EU or would never be economic.

Bella52
03-03-2014, 10:01 AM
they are about to find out that hedging will be a much lower pricing than they needed to make it economic, which is why they didn't hedge in the first place.

Bella52
03-03-2014, 10:01 AM
they are about to find out that hedging will be a much lower pricing than they needed to make it economic, which is why they didn't hedge in the first place.

BlackPeter
25-03-2014, 06:55 PM
AMP selling - more than 3 Million shares gone. Now we know, what brought the SP down ...


SSH: NWF: SSH Notice - AMP Capital Investors (New Zealand) Limited

Date this disclosure made: 25-Mar-2014

Date of relevant event: 24-Mar-2014

Date last disclosure made: 12-Apr-2013

For this disclosure,--

(a) total number held in class: 33,347,295

For last disclosure,--

(a) total number held in class: 36,246,735

Bobcat.
25-03-2014, 09:49 PM
AMP selling - more than 3 Million shares gone. Now we know, what brought the SP down ...



Yes, I had thought it could've been insider trading around an environmental court hearing but could find no news about it. Tried to sell before it plummeted but missed out...and so I'm still holding, more's the pity.

Do I average down? Not with this dog. Why would I want to jump onto something from which the fleas are jumping off? Selling at the top of a dead cat bounce (to mix a metaphor) is now all I can hope for. Unless the very unlikely happens - namely, the City Council in Palmerston Nth backing off representing what they consider to be the best interests of a few of their discontent rate payers up in the hills.

BlackPeter
26-03-2014, 12:34 PM
Yes, I had thought it could've been insider trading around an environmental court hearing but could find no news about it. Tried to sell before it plummeted but missed out...and so I'm still holding, more's the pity.

Do I average down? Not with this dog. Why would I want to jump onto something from which the fleas are jumping off? Selling at the top of a dead cat bounce (to mix a metaphor) is now all I can hope for. Unless the very unlikely happens - namely, the City Council in Palmerston Nth backing off representing what they consider to be the best interests of a few of their discontent rate payers up in the hills.

Yeah - sort of sad. Over the years more than 110 Million Dollars went into NWF to generate power from wind energy. They did build their wind park (and as far as I see, it is reasonably maintained and run), but whats left of the money which went into is at current SP a market cap of 14 Million Dollars. 87% of the initial value p...ed into the wind!

Long live the renewables - as long as the Greenies find enough people stupid enough to invest into them. Maybe they (the Green party) want to consider a take over bid? This must be the cheapest commercial wind farm available, given that others paid for building it! But than, I think they are these days more keen in wasting fresh public money by generating electricity now from solar, aren't they?

Back to NWF: If we have at some stage "average" wind conditions (so far always lower than expected - might improve with global warming) and "average" electricity prices (admittedly less likely to go up over the next couple of years due to NZ oversupply), if Palmerston North looses its appeal against the decision on its appeal in the environment court and if the turbines are holding up (I agree, all big IF's), than at some stage NWF should generate a couple of million dollars NPAT per year (from memory - DYOR). Not great for $110 Million invested, but enough to justify a $14 Million market cap.

Probably not the best time to sell now - unless AMP knows something we don't?

BlackPeter
27-03-2014, 03:17 PM
Director Mike Allan resigned and leaving March 31st:

https://www.nzx.com/files/attachments/191678.pdf

No reasons given and very short notice. As well: the chair "wished to acknowledge and thank Michael for his contribution".

Is this just a typo ("wished" instead of "wishes") - or is there some other message the chair wants to convey?

As well - I am sure there is no connection to the recent share price drop

BlackPeter
28-03-2014, 07:13 AM
interesting - this morning there is a much higher number (well - volume) of bidders than of sellers - following a 5 % SP rise yesterday evening. Maybe we reached the bottom (vs a local low)? Still pondering whether I should buy some more. :confused:

JAYAY
29-03-2014, 09:39 AM
interesting - this morning there is a much higher number (well - volume) of bidders than of sellers - following a 5 % SP rise yesterday evening. Maybe we reached the bottom (vs a local low)? Still pondering whether I should buy some more. :confused:

Difficult to know about this one. Palm. Nth C.C. case is supposed to be heard sometime by May this year. NWF is adamant that noise is within levels allowed under resource consents. The trouble seems to be that the environment court panders to complainants. So instead of telling PNCC to get lost they look for a compromise.
Also NWF have to be diplomatic. They don't want to look like they are riding rough shod over the locals.

BlackPeter
09-04-2014, 01:41 PM
Testing some new highs (day high so far is 6.4 cts, this would be 33% up from a low of 4.8 cts 2 weeks ago - what a gain;)). However admittedly limited depth - looks like the AMP's of this world stopped selling. Technically speaking did the price just brake through the MA30 (if it manages to defend or regain the 6.4 cts) - must be all up from here?

Yes, I know, the depth is pathetic, but still - maybe somebody noticed that bulk electricity prices in NZ are over the recent days / weeks quite high, this must be all good for wind generators like NWF. Hope the wind is blowing in windy Palmy?

Discl: holding and bought some more (but didn't got enough) during the recent dip - i.e. DYOR

JAYAY
09-04-2014, 10:15 PM
Testing some new highs (day high so far is 6.4 cts, this would be 33% up from a low of 4.8 cts 2 weeks ago - what a gain;)). However admittedly limited depth - looks like the AMP's of this world stopped selling. Technically speaking did the price just brake through the MA30 (if it manages to defend or regain the 6.4 cts) - must be all up from here?

Yes, I know, the depth is pathetic, but still - maybe somebody noticed that bulk electricity prices in NZ are over the recent days / weeks quite high, this must be all good for wind generators like NWF. Hope the wind is blowing in windy Palmy?

Discl: holding and bought some more (but didn't got enough) during the recent dip - i.e. DYOR

Yes it looks like the major shareholders are still hanging in there and buyers always seem to outnumber sellers.
Fingers crossed for a favourable outcome of PNCC court case supposed to be decided in the next couple of months, then see the share price go up.

Bobcat.
14-04-2014, 01:13 PM
Latest quarterly results published (not too bad):

Third Quarter – 1 January 2014 to 31 March 2014

2014 2013 % Change
Electricity generation output - MWh 30,979 23,493 +31.9
Revenue from electricity sales 2,483,000 1,734,000 +43.3
Average electricity price - $/MWh 80.15 73.81 +8.6
Turbine availability (average) 93.7% 96.1%

Financial year to date – 1 July 2013 to 31 March 2014

2014 2013 % Change
Electricity generation output - MWh 94,510 82,631 +14.4
Revenue from electricity sales 5,212,000 4,744,000 +9.9
Average electricity price - $/MWh 55.15 57.41 -3.9
Turbine availability (average) 93.8% 95.3%

Discl: holding.

BlackPeter
14-04-2014, 04:41 PM
Latest quarterly results published (not too bad):

Third Quarter – 1 January 2014 to 31 March 2014

2014 2013 % Change
Electricity generation output - MWh 30,979 23,493 +31.9
Revenue from electricity sales 2,483,000 1,734,000 +43.3
Average electricity price - $/MWh 80.15 73.81 +8.6
Turbine availability (average) 93.7% 96.1%

Financial year to date – 1 July 2013 to 31 March 2014

2014 2013 % Change
Electricity generation output - MWh 94,510 82,631 +14.4
Revenue from electricity sales 5,212,000 4,744,000 +9.9
Average electricity price - $/MWh 55.15 57.41 -3.9
Turbine availability (average) 93.8% 95.3%

Discl: holding.

good to see for a change some more pleasing numbers from them. Lets hope they make a habit out of that, get the gearbox reliability problems under control, and the environment court concludes the ongoing saga with City of Palmerston as hoped.

milt1968
28-04-2014, 01:30 PM
Bought a smallish size parcel of these shares, will be interesting to see how it goes.

Grimy
08-06-2014, 05:53 PM
Latest update (Friday) leaves me feeling uneasy. Nothing positive.......

BlackPeter
09-06-2014, 08:32 AM
Moving to Palmerston North soon Grimy, want me to give the Council a good old ear full for ya? ,;)

Yes, please ...

Anyway interesting - everybody talks about the benefits of renewable energy sources, but if people invest into them than organisations like the Palmerston North City Council try to kill them off ...

But its probably just some of the rich old boys & gals controlling the council who live too close to the windfarm - and hey, we couldn't accept to inconvenience them for the greater good - can we?

BlackPeter
02-07-2014, 12:59 PM
Something happening? Quite interesting volume (well, for NWF) and bidders pushing the price up. Any advance information on either the environmental court case or maybe the coming quarterlies - or just a more positive mood?

I guess 5 cts just looked too good considering a $14 M market cap and nearly $12 M in the bank (2013 annual report) ... gives you roughly hundred working turbines basically for free - doesn't it?

Discl: holding (and optimistic), but DYOR

Bobcat.
02-07-2014, 01:29 PM
Yes - I'm still holding too. I sold a small parcel a few weeks ago at 8c (after some buying interest took the sp up from 6.7c), and like you BP have watched the sp drop 40% ever since.

That's a huge drop but not surprising given the negative sentiment surrounding Palmy / Barmy Council's position on NWF's Te Rere Hau wind farm. This has been going on for almost four years now.

The Appeal Court hearing is scheduled for 12 August (only 5 weeks away) and so it looks like one or two investors are picking there is more upside than down buying NWF at these prices.

Grimy
02-07-2014, 06:37 PM
Well I grabbed a few more last week at 5.5. Don't ask me why...........

BlackPeter
17-07-2014, 10:59 AM
the latest quarterly (and annual) production figures are out:

https://www.nzx.com/files/attachments/196984.pdf

Financial year to 30 June 2014

2014 2013 % Change
Electricity generation output - MWh 122,556 105,663 +16.0
Revenue from electricity sales 6,887,000 6,384,000 +7.9
Average electricity price - $/MWh 56.19 60.42 -7.0
Turbine availability (average) 94.2% 95.4% -1.2


Actually looking not too bad: higher annual production, though lower price - but still in total a nice increase over the year. Looking forward to the environmental court decision - and obviously their review of the asset value. Anybody expecting further extraordinary write-offs?

BlackPeter
27-08-2014, 08:06 AM
the latest quarterly (and annual) production figures are out:

https://www.nzx.com/files/attachments/196984.pdf

Financial year to 30 June 2014

2014 2013 % Change
Electricity generation output - MWh 122,556 105,663 +16.0
Revenue from electricity sales 6,887,000 6,384,000 +7.9
Average electricity price - $/MWh 56.19 60.42 -7.0
Turbine availability (average) 94.2% 95.4% -1.2


Actually looking not too bad: higher annual production, though lower price - but still in total a nice increase over the year. Looking forward to the environmental court decision - and obviously their review of the asset value. Anybody expecting further extraordinary write-offs?

Just realised the appeal court hearing (Palmy North against NWF) was scheduled 2 weeks ago (August 12th). Anybody knows how this developed? Did I just miss the news?

Moosie, given your now local knowledge - how bad is the noise really?

BlackPeter
27-08-2014, 09:48 AM
Noise ain't nothin! It's the usual "we want Green energy, but not in our backyard or anywhere that affects me personally" BS. The drive in from Feilding every day is nice with them silhouetted on the hills :)
Thanks for that, Moosie. So lets hope the environmental court sees it the same way (they did before ...)

JAYAY
27-08-2014, 01:49 PM
Just realised the appeal court hearing (Palmy North against NWF) was scheduled 2 weeks ago (August 12th). Anybody knows how this developed? Did I just miss the news?

Moosie, given your now local knowledge - how bad is the noise really?

Chris Sadler said that the court hearing went ahead as scheduled but they (the court) will take 3 to 6 months to announce a decision.

BlackPeter
27-08-2014, 04:18 PM
Chris Sadler said that the court hearing went ahead as scheduled but they (the court) will take 3 to 6 months to announce a decision.

Thanks for that. Looks like we have an efficient justice system ...:t_down:

BlackPeter
28-08-2014, 10:04 AM
Thanks for that. Looks like we have an efficient justice system ...:t_down:

NWF are moving their premises to 376 North Range Road. According to Google amazing views:

https://www.google.co.nz/maps/place/376+N+Range+Rd,+Aokautere+4471/@-40.340491,175.776386,3a,90y,90t/data=!3m4!1e1!3m2!1suXOd6wSDLyte8Iks6xm8fA!2e0!4m2 !3m1!1s0x6d41ba6fcc5d31fd:0x991eaa464be16280!6m1!1 e1

... but can anybody spot the office?

BlackPeter
03-09-2014, 01:49 PM
Hey, and with all that excitement about the change of address I missed that they had later that day (28 August) 2 more announcements - and nobody told us! Shame .... :t_down:

Anyway ... financials are out: No more unplanned write offs, and despite subdued electricity prices cash positive (though after depreciation still a paper loss) (I edited this after discovering the preliminary report attached to the announcement)

NZ Windfarms earned $6,887,000 from electricity sales (2013: $6,384,000). The
97 turbines generated 122,566 MWh (2013: 105,663) but at a disappointing
average price of $56.20/MWh (2013: $60.42).
...
The overall result was a net profit before depreciation, amortisation,
impairment and tax of $1,416,000 for the year (2013: $1,654,000). The
company has significant cash reserves and a net cash inflow of $436,000
(2013: $356,000) was achieved even though an accounting loss was recorded in
the year.

plus:
- cash positive (though still small paper loss - edited)
- based on 3 full years of running experience they believe now they can reduce turbine wrote off (i.e. account for longer life span - 37 years remaining turbine life with one (larger maintenance / refurbishment in the middle vs previously assumed 20 years turbine life)

flipside:
- environmental consent issues still pending, though it sounds like they have a plan to reach some consensus with town and neighbours ...
- still no divvie

Their cash reserves ($10.4 M according to 2014 preliminary report - edited) are close to the current market cap ($15.8M) ... which means that the 97 turbines are quite cheaply thrown in (edited: at roughly 5.6% of the 1$M they cost new (from memory)).

Discl: Less unhappy holder ... hoping for wind and (as share holder) for at some stage rising electricity costs. DYOR

BlackPeter
04-09-2014, 07:43 AM
If someone wants me to go check out the new HQ I will, is a good tramping area up there...

sounds good - a wee report, a handful of photos (the google street view is stunning) and a noise assessment thrown in would be appreciated ... Enjoy the tramp!

In4a$
04-09-2014, 09:34 AM
I've never really noticed the noise, even when viewing from Ashurst when passing through, "might be going deaf". I wrote to them 2 years ago and suggested they paint the turbines green so they look like trees, and no one would notice them. Got a letter back with a long story on why their engineers think white is the best colour !!. I guess they want them to be seen. !

Harvey Specter
04-09-2014, 09:45 AM
- cash positive (though still small paper loss - edited)
Their cash reserves ($10.4 M according to 2014 preliminary report - edited) are close to the current market cap ($15.8M) ... which means that the 97 turbines are quite cheaply thrown in (edited: at roughly 5.6% of the 1$M they cost new (from memory)).This makes for an interesting proposition. One must assume they will stay cashflow positive for the next 37 useful life (apart for the refurb).

kiora
04-09-2014, 10:24 AM
Plus a $3m sheep & beef farm :)


the latest quarterly (and annual) production figures are out:

https://www.nzx.com/files/attachments/196984.pdf

Financial year to 30 June 2014

2014 2013 % Change
Electricity generation output - MWh 122,556 105,663 +16.0
Revenue from electricity sales 6,887,000 6,384,000 +7.9
Average electricity price - $/MWh 56.19 60.42 -7.0
Turbine availability (average) 94.2% 95.4% -1.2


Actually looking not too bad: higher annual production, though lower price - but still in total a nice increase over the year. Looking forward to the environmental court decision - and obviously their review of the asset value. Anybody expecting further extraordinary write-offs?

Blue Horseshoe
12-09-2014, 10:10 AM
Looks like the pncc want to waste more of your rates money Moose. A holes.

Blue Horseshoe
12-09-2014, 10:14 AM
https://www.nzx.com/companies/NWF/announcements/255165

JAYAY
12-09-2014, 10:20 AM
https://www.nzx.com/companies/NWF/announcements/255165

Obviously a bloody minded lot at PNCC. I hope the courts will view them as simply being obstructive.

JAYAY
13-09-2014, 07:00 AM
Looks like the pncc want to waste more of your rates money Moose. A holes.

I looked up PNCC website. I can't find anything on there giving their version of events.
All I can find is that they look like trying to amend resource consent guidelines for windfarms (shifting the goalposts).
Nothing in the Manawatu Standard either.
Looks like the council has their own agenda and are keeping the ratepayers in the dark.

BlackPeter
16-09-2014, 11:37 AM
Just lifted an interesting graph from the latest (August) Meridian monthly report. Looks like the electricity prices generators received these last 2 months have been better than during the same months last year. Promising outlooks for NWF?

6251

Discl: never managed to post a graph before ... crossing fingers it works this time. If not ... check page 6 of the Meridian report:

https://www.nzx.com/files/attachments/200561.pdf

Ah yes - and as always - DYOR, NWF share price is influenced by other parameters as well :scared:

JAYAY
22-09-2014, 02:02 PM
Now that the Nats are promising to give priority to proposed changes to the RMA, does anyone have any idea if and how such changes might affect NWF and their ongoing battle with the PNCC.

BlackPeter
22-09-2014, 05:20 PM
Now that the Nats are promising to give priority to proposed changes to the RMA, does anyone have any idea if and how such changes might affect NWF and their ongoing battle with the PNCC.

good question ... I would assume that what ever the Nats might do will be impacting the frame work for new applications. Doubt they will interfere with cases in front of the courts. On the other hand ... as far as I am aware, there are not too many more appeals the City of litigant Palmerston can lodge. Must have been a great time for lawyers on both sides ... lots of money down the drain (for the council as well as for NWF). Not a city I would like to be ratepayer in.

JAYAY
30-10-2014, 09:18 AM
https://www.nzx.com/companies/NWF/announcements/256985

Anyone got thoughts on which way this one might go.

BlackPeter
30-10-2014, 10:02 AM
Moosie (or however you call yourself these days ...) any updates from the horses mouth? BTW - we still wait for the promised trip report ...