http://home.nzcity.co.nz/finance/art...206985&cat=976
"Infratil expects to sell down its stake in the now completed Snowtown wind power project in South Australia to fund other emerging renewable energy opportunities in Australia.
At a briefing after the release of Infratil's annual earnings for the year ended March 31, chief executive Marko Bogoievski has described the sale of Snowtown as "Plan A" for pursuing other Australian renewables projects.
Infratil's stake in Snowtown is through its 68 per cent ownership of power company TrustPower.
Even with the Abbott government's decision to reduce its renewable generation target from 41,000 Gigawatt hours to 33,000GWh, Australia would still be 17,000GWh short of the new target, which was "more than enough for Trustpower to get a couple of projects away", Mr Bogoievski said.
Tauranga-based TrustPower has some
475 Megawatts of installed renewable generation capacity in Australia, 1280MW of projects in the consenting phase, and another 750MW of identified developments.
"At a minimum you would expect Snowtown to be available for sale to fund the next development," Mr Bogoievski said.
The 270MW Snowtown project cost $A430 million ($NZ466m) to build but had recently been revalued at $A730m.
"Right now, Plan A is sale of assets in Australia. A lot of the development margin is earned already," he said.
"The only thing that that forces on the (Infratil) group is a sequential view about developing our pipeline," Mr Bogoievski said, referring to the range of other investment opportunities the infrastructure portfolio owner owns across energy, transport, retirement and commercial property assets in both New Zealand and Australia."
Originally Posted by kiora
http://home.nzcity.co.nz/finance/art...206985&cat=976
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