IRG
Friday 18th July 2014 |
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TrustPower (TPW.NZ) Limited is engaged in the development, ownership and operation of electricity generation facilities from renewable energy sources and the retail sale of electricity and telecommunications services to its customers. The Company operates in two segments: development, ownership and operation of electricity generation facilities from renewable energy sources and purchase of energy from Generation and retail sale of electricity to customers (Retail).
Trustpower supplies electricity to approximately 224,000 customers and gas to approximately 14,000 customers. The Company retails telephone services and internet (including ultra-fast broadband in some areas) to approximately 31,000 customers. Trustpower owns and operates 34 hydro power stations, 2 wind farms and a diesel peaker in New Zealand and 1 operating wind farm in Australia. The Company is currently constructing the 270MW Snowtown Stage 2 Wind Farm in South Australia which is expected to be completed in October 2014.
Trustpower has been listed on the NZX since 1994.
Trustpower is expecting an after-tax uplift in earnings of A$19.9 million within two years from stage two of its South Australian Snowtown wind project. The second stage of Snowtown is expected to require a further A$50 million in capital expenditure in the 2015 year, but the A$439 million project will be complete in 2016. Total capex for the Trustpower group, in Australia and New Zealand, is expected to be around $85 million, with the difference between Snowtown and other costs made up by investment in IT systems and stay in business capital equipment maintenance and upgrades. The company also hopes to extract earnings before interest, tax, depreciation, amortisation and changes in the fair value of financial instruments of between $10 million and $15 million from its customer growth strategy.
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