Friday 22nd March 2024 |
Text too small? |
Independent power producer and renewable energy developer Manawa Energy (‘Manawa’) advises that the company’s EBITDAF for the year to 31 March 2024 is likely to be in the range of $142m to $147m, above the previous guidance range of $120m to $140m. Capital expenditure guidance remains unchanged at $65m to $80m.
The revision is driven by several factors, including an increased focus on operating efficiencies and value capture, favourable energy trading conditions in Q3 and Q4, and relatively strong irrigation demand. It is contingent on there being no material events for the remainder of the financial year.
Manawa has also continued to progress and expand its pipeline of renewable development options, with the following milestones achieved in recent months:
• secured resource consent from the Marlborough District Council for the previously announced Argyle Solar Farm (~28MWac), adjacent to its Branch River hydro power scheme in Marlborough. Manawa is currently preparing a resource consent application for an expansion of the Argyle Solar Farm up to ~65MWac that is expected to be lodged in early FY25; and
• secured land options for a potential 100MW wind farm opportunity in Marlborough, along with a ~200MWac solar opportunity in the Mackenzie Basin, taking Manawa’s secured pipeline of wind and solar options to more than 1.2GW.
-ends-
No comments yet
Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes