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  1. #1
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    Default NWF - NZ Windfarms

    I see the prospectus for the pending NZ Windfarms Limited IPO 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
    Regards

  2. #2
    Guru
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    Default

    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??
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  3. #3
    Senior Member
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    Default

    Good call CJ !!!

  4. #4
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    Default

    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]

  5. #5
    Reincarnated Panthera Snow Leopard's Avatar
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    Default

    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

    om mani peme hum

  6. #6
    Senior Member ananda77's Avatar
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    Default

    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






  7. #7
    Advanced Member
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    Default

    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

  8. #8
    Senior Member
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    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?
    \"The overweening conceit which the greater part of men have of their own abilities [and] their absurd presumption in their own good fortune.\" - <b>Adam Smith</b> - <i>The Wealth of Nations</i>

    The information you have is not the information you want.
    The information you want is not the information you need.
    The information you need is not the information you can obtain.
    The informaton you can obtain costs more than you want to pay.

  9. #9
    Senior Member Halebop's Avatar
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    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.

  10. #10
    Senior Member ananda77's Avatar
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    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

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