IFT - Infratil

[QOH]

might start moving soon. Wasn't today the last day for trading the partly paid ones. I stocked up on "Bs" last week.

[Toddy]

Annanz

Talk about complicating a business plan. The only plan from here should be doing the big sell on a decent budget airline with decent capital backing. How do you convince a Ryanair or Easyjet to add services to Kent.

The local community cannot use the airport if there are no planes.

[Zaphod]

I always take those types of surveys with a grain of proverbial salt. Locals will invariably say that they will use the service (perhaps due to the 'prestige' of having an international airport servicing the public), but the numbers never materialise at those levels in the end.

[Toddy]

Monday 28th July 2008

TrustPower, the power station operator controlled by Infratil, said a decline in the New Zealand dollar may reduce the economics of wind farms.

The company typically buys its turbines in euros and its towers in US dollars, which have both weakened against the kiwi.

The company is gearing up to expand its wind farms in Australia, where it is to install about 140 MW of generators, and in New Zealand, where it has consents for more turbines.

The kiwi's decline "may make wind farm economics more challenging," the company said in slides for a presentation in Sydney.


This is code for............ if the Govt wants to get anywhere near its renewable energy target then the electricity prices in New Zealand are going to have to hike alot sooner and higher than has been forecast in the past.

[Zaphod]

IFT
29/07/2008
ALLOT

REL: 1642 HRS Infratil Limited

ALLOT: IFT: Allotment Notice

The following information is provided in accordance with
Listing Rules 7.12

Class of security: Ordinary Shares

ISIN: NZIFTE0003S3

Number of Ordinary Shares issued: 8,726,534

Issue Price: $2.00

Payment: Final instalment $1.00, in cash

Amount paid up: Partly paid Ordinary Shares fully paid to $2.00

Percentage of the total class of securities issued (after the issue): 1.93%

Reason for the issue: Partly Paid shares converted (IFTCB).

Specific authority for the issue: Terms and conditions of the issue of the
Partly paid shares prospectus dated 29 August 2007. Board resolution dated 27
August 2007.

Terms or conditions of the issue: Partly paid shareholders have the right to
subscribe for Ordinary Shares, credited as fully paid, at the final
instalment price of $1.00

Total number of Ordinary Shares in existence after the issue: 452,150,088

Total number of Partly paid shares o
n issue after the above are converted:
79,281,527

K M Baker
End CA:00167955 For:IFT Type:ALLOT Time:2008-07-29:16:42:38

[Toddy]

Looking good for the final investment decision to be made within weeks.


TrustPower asked to look again at project
The Environment Court wants TrustPower to look again at its $400 million Mahinerangi wind farm project, saying it is not confident 100 turbines can be accommodated on the 1723ha site.

In its interim decision released yesterday, the court rejected the appeal against the project by the Upland Landscape Protection Society but asked TrustPower to do more homework on how many turbines it needs and where they should go.
However, the court said it accepted the wind farm would benefit the district, the region and also the nation.
A significant advantage, it said in its 73-page decision, is that wind generation does not produce any greenhouse gases, while the court also accepted the prospects of work for local people, both during and after construction.
It has yet to decide on how costs should be awarded.
TrustPower now has 40 working days to review its site plan and consider whether it wants to stick to its plan of erecting 100 145m turbines on the site.
In a brief statement, it said it welcomed the decision.

"This is a positive step towards increasing New Zealand's renewable electricity supply and for continued growth of TrustPower's renewable asset base.

"We are still reviewing the details of the decision and will look to progress any actions required to secure a final decision over the coming weeks."

But the court has told TrustPower to have a re-think on exactly where the turbines should go.

A revamped design would need to avoid rows of turbines or give the visual appearance of a "wall" from certain angles.

"We are confident the site can accommodate more than 66 turbines but are not so confident that the 100 turbines envisaged can be accommodated.

"However, we consider that if significant cuts, fills and batters can be avoided, the site may be able to accommodate up to 100 turbines if placed and sited appropriately."

Because of this view, the court said it was giving TrustPower the opportunity to reconsider both the number and location of turbines "and to provide modified conditions to meet the concerns of the court."

Its revised plan must be given to the Clutha District Council, Otago Regional Council and society for comment and, if possible, signed agreement.

But there were several key positive benefits to be gained from the development, the court said.

These were the creation of jobs during and after construction, the provision of a renewable energy power source to meet New Zealand's energy needs, and a new energy source in the southern South Island which could enable community and business activities.

Society spokesman Richard Reeve said he and other members had yet to read the decision and could not comment yet.

A statement may be issued later today.


Major benefits

• Minimum irreversible long-term modification of
landformMajor visual effect of the activity will stop, if the activity
stops, with turbines removed..


• Existing farming can continue

• Improvement to ecological values of Scrappy Pines area.

Source: Environment Court

Key conditions

• TrustPower must prepare a site plan showing the number and
position of turbines, areas to be excluded from works, access roads,
cut and fill batters, surplus soil disposal areas and cut and fill
calculations in each area.

• Site plan to be prepared and circulated within 40 working days and talks with other parties within 30 working days thereafter.

• If all parties cannot agree, a further pre-hearing conference and hearing may be needed.

[Rif-Raf]

There is great demand for commercial passenger flights from Kent International Airport, near Ramsgate, according to a survey completed by nearly 11,000 local residents.

The online survey undertaken on behalf of the airport found that 71% felt that scheduled commercial air passenger flights from Kent International Airport were very important. A further quarter of respondents felt that commercial flights were ‘somewhat important’ with only 2.7% considering them ‘not important at all’.

When asked whether they would use a commercial air service from Kent International Airport, 85.9% of respondents said it was very likely, and a further 10.7% felt it was ‘somewhat likely’.

Matt Clarke, Chief Executive of Kent International Airport, said: “This is an excellent vote of confidence in the airport and will boost our efforts to bring scheduled passenger services back to the county.”

According to the survey’s respondents, the time saving and locational benefits were seen as the top two advantages of Kent International, according to 91.3% and 86.5% respectively. The results also recognise Kent International Airport’s potential, with 72.5% of the 10,673 respondents acknowledging that the return of passenger services would have local economic benefits.

Importantly from the airport owner’s perspective and Infratil’s on-going efforts to secure the return of scheduled services, the survey showed that should commercial air services be offered from Kent International Airport they would pay a premium. More than a third of respondents (34.3%) said they would consider paying a £20 premium for a return flight from Kent International Airport rather than trek to Gatwick, Heathrow or Stansted.

Matt, Clarke added: “Interestingly, and probably in response to the experience of flying from the London airports, 16% who answered the survey said they would pay a premium in excess of £60 per round trip. In the current economic climate this news will be well received by airlines considering operating from Kent International.

“We believe that Kent International Airport has a major role to play in delivering passenger services to the residents of the South East. This was reinforced by the fact that more than three out of every four of respondents have been inconvenienced at other London airports due to the distance and travel time, traffic, parking and long queues and crowding when they get there.”

Infratil is currently analysing the demand for specific routes highlighted in survey. However, the survey suggests the airport has the potential to meet customer demand all year round, with 59.3% of respondents looking for package holidays and 53.2% interested in jetting off for winter sun. A further 20.8% were interesting in flights from Kent International Airport for skiing holidays.

Matt Clarke concluded: “This provides us with a snapshot of the demand for passenger services from the airport and has confirmed our understanding of the travel habits of Kent residents, importantly where they fly to and where they would like to fly to.

“Later in the year we will present our plans for the long-term future of Kent International Airport with an opportunity for local residents and authorities to give us their views.”

http://www.onlykent.com/20080725/lat...ional-airport/

This is all good. It takes times, but they have to know and understand the market and build the case accordingly. It will take patience though

[Toddy]

This is very good news for TPW and IFT. 2008 is going to end up being the biggest year for them both in terms of getting the go ahead on a number of projects, investing hundreds of millions of dollars.

GENERAL: TPW: TPW Resource Consents Granted for 72 MW Wairau Valley Hydro

Media Statement from TrustPower Limited
5 August 2008

The Marlborough District Council has advised TrustPower that it has been
granted the resource consents required to build its proposed 72MW hydro
scheme in the Wairau Valley in Marlborough.

The proposed $275 million scheme will take water from the Wairau River, and
pass it though six power stations, including the existing Branch River hydro
scheme, before returning the water to the river some 50km downstream.

The full resource consents follow interim consents issued in June 2007 after
six months of hearings by a panel of independent commissioners, and a
subsequent hearing to determine a wide range of conditions designed to ensure
there is minimal adverse impact upon the environment.

TrustPower Chief Executive Keith Tempest says the issuing of the full suite
of resource consents and conditions has justified the time, effort and
expense TrustPower has put in to the proposal since it was first mooted in
2002.

"The proposed scheme will provide direct benefits to upper South Island
communities and indirect benefits to the rest of New Zealand through the
freeing up of electricity currently imported into that region for more
efficient use elsewhere. At the same time it will assist New Zealand to meets
its targets of increased sustainable generation using local natural
resources, with minimal impact on the environment.".

[Toddy]

Its good to see that the monthly updates now include more than just the airports.

Victoria Electricity

At the end of July, billable customer numbers reached 350,000 (up from
286,000 at the end of 2007/08 financial year). This figure includes a
significant number of Queensland customers acquired over the course of this
calendar year. However, growth was curtailed in Queensland at the beginning
of June shortly after retail benchmark price caps were set at levels well
below those required to recognise the significant increases in wholesale
energy and network charges. Customer numbers in South Australia have also
remained steady due to elevated wholesale energy prices. Growth efforts are
currently focused on Victoria where the conditions for profitable competition
are best, albeit that growth is harder in this market due to the maturity of
competition and efforts of other retailers to acquire and retain customers.

The Federal Government recently released a Green Paper on its proposed Carbon
Pollution Reduction Scheme (a cap and trade system). While there are many
details to be worked through, there has been initial recognition that retail
price caps will need to be addressed as part of the implementation of the
scheme.

[Toddy]

I couldn't make it down to windy Wellington this year for the a.g.m.

Did anyone attend?