Thursday 10th September 2009 |
Text too small? |
TrustPower, the NZX-listed power generator and retailer, has abandoned its six year project to build a 48 Megawatt windfarm at Myponga, 50 kilometres south of Adelaide.
TrustPower sought to cut the number of turbines initially approved from 20 to 16 but increase tower height from 100 metres to 110 metres.
But the South Australian Urban Development and Planning Minister Paul Holloway last week announced that "after six years of delays it is no longer appropriate to further vary the development approval to such a large extent".
"TrustPower was hopeful of a positive reponse to the variation request given that in the Group's opinion it was not materially different to the existing approval," said its chief executive, Keith Tempest.
TrustPower will focus on other Australian opportunities.
The company commissioned Phase 1 of its 98.7MW Snowtown windfarm, 100 km north of Adelaide last November.
Businesswire.co.nz
No comments yet
TrustPower, Ngai Tahu Holdings may invest $106M in Ruataniwha water scheme
TrustPower generated less energy for fewer customers in the first quarter
Transpower to pay government special div of $65.7M from d-cyphaTrade sale
Transpower sells derivatives trading unit d-cyphaTrade to ASX for A$55 mln
TrustPower pays $13.7 million for Energy Direct NZ to widen customer base
TrustPower FY earnings fall 6 percent on dwindling customers, thinner margins; shares gain
TrustPower sets interest rate on seven- year bonds
TrustPower looks to raise $125M in bond sale
Transpower runs $30 million over budget on North Island upgrade
TrustPower pushes margins, sheds customers for 16% earnings rise