NZ Windfarms achieves key resource consent milestone

NZ Windfarms achieves key resource consent milestone 19 December 2017 NZ Windfarms advises that it has achieved a key strategic milestone in terms of its resource consents. Following a decision by commissioners in late November around new noise conditions, no valid appeals have been lodged. In early 2017, the company identified two key strategic milestones; the acquisition of the electrical reticulation assets from lines company Powerco, and resolution of long standing noise issues. The Powerco assets were successfully purchased in September, and the end of the consent conditions review process yesterday resolves compliance issues for the organisation. The company has worked closely with stakeholders to agree on new operating parameters, centred around three turbines located close to a group of residences. The company proposed a higher turbine cut-in wind speed and a gearbox modification to limit noise during low wind south-easterly conditions. The commissioners' decision supported this approach and leaves the company free to operate the other 93 turbines on the company's Te Rere Hau Wind Farm without restriction. The gearbox changes were completed in the week following the decision. Board Chairman Rodger Kerr-Newell said that the decision was a good outcome for the residents and the company. "We've been working very hard to improve the performance of this company through operational refinements, regulatory change and cost-out initiatives. Putting arguments about consent compliance behind us is another key piece in our turn-around strategy." CEO John Worth noted that alongside the new consent conditions the company remained committed to its voluntary noise curtailment regime in place since July that aims to further reduce noise levels. The company has spent around $500k per annum on consent litigation for the past five-plus years, and is pleased to be able to move on. Kerr Newell noted that the company has achieved all of its strategic goals for 2017. "We have made huge progress this year in optimising our current operations. What this means is that we move into 2018 entirely focussed on changing our fuel mix and improving our offtake position as we promised our shareholders at the AGM. We've made good progress in 2017 in reducing the volatility we experience in the wholesale market, and in 2018 we will do further work on this." CEO John Worth, who joined the organisation in March, noted that the consent outcome was the icing on the cake on a very busy year. "Our whole team has been working extremely hard in optimising the performance of our wind farm. To be able to put consent issues behind us before Christmas is a great outcome for the company and for our community. We sincerely thank our neighbours for working so closely with us this year." For further information contact: John Worth Chief Executive Officer +64 21 800 310 End CA:00312167 For:NWF Type:MKTUPDTE Time:2017-12-19 13:36:52