NZ Windfarms VVFPA for Hau Nui

ADMIN

Thu, Dec 19 2024 05:19 pm

19 December 2024

NZX Announcement

For immediate release

NZ Windfarms VVFPA with Genesis Energy

NZ Windfarms Ltd (NWF) have today agreed a fixed price variable volume contract for difference (CFD) with Genesis Energy for 100% of output from the recently acquired Hau Nui windfarm.

The CFD will commence on 1 January 2025 for a duration of 3 years.

NZ Windfarms acquired Hau Nui windfarm from Genesis Energy on 25 October 2024.
The annual output is expected to be between 12 and 15 GWh which as a comparison, is between 12% and 14% of Te Rere Hau’s current output.

Hau Nui is a top-class wind resource (Class 1), creates diversity in our portfolio and maintains a revenue stream during the decommission and repower of Te Rere Hau windfarm.

There are a number of options to repower and increase the output ranging from a small repower within the existing consent, footprint and transmission constraints to a far larger repower with an upgrade to transmission at the same time. We are actively exploring these options and will provide more information to shareholders when we are able.

For further information, contact David Prentice, Chief Executive, by phone on 06 280 2773, or by email at [email protected]

Craig Stobo
Chairman

Ends