NZ Windfarms Limited is offering shareholders the opportunity to participate in a renounceable rights issue, with the aim of raising funds for the development and repower of the Te Rere Hau wind farm and pursuing other renewable energy development opportunities.
The offer is priced at NZ$0.155 per share, the same price as shares issued to Meridian Energy Limited.
Shareholders have until November 20, 2023, to subscribe for new shares or sell their rights on the NZX Main Board.
The funds raised from the rights issue will be used to repay bank debt and support the company's operations until a final investment decision is made on the repower.
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