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You are here: Home / Investor Relations / NZX Announcements / 2011 / NZX Announcement - WTL Deed

NZX Announcement - WTL Deed

NZ Windfarms Limited ("NWF") advises that they have entered into a Deed with Windflow Technology Limited ("WTL") to restructure the operations and maintenance arrangements for the Te Rere Hau windfarm.

Pursuant to these new arrangements NWF has acquired a stock of strategic spares for their fleet of 97 WF500 turbines, previously held by Windflow Technology.

 

Windflow Technology has established a subsidiary service company, Te Rere Hau Services Ltd ("TSL"), comprising the existing operations staff based at Te Rere Hau. NWF has been granted an option to acquire TSL in the event Windflow Technology becomes insolvent.

 

NWF has also been granted security over, and a licence to use, various drawings, specifications, and other documents to ensure NWF is well placed to maintain Te Rere Hau in the long term, should Windflow Technology prove unable to fulful its operations, maintenance, and warrantly obligations.

 

ENDS

 

For further enquiries contact:

 

Chris Sadler

Cheif Executive Officer

Ph (021) 918 216

 

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