At a Glance
NZ Windfarms Ltd (NZX Code: NWF) is listed on the NZ stock exchange. The charts pictured below are extracted from the FY2024 Annual Report. Please view in conjunction with the audited financial statements and the notes to the accounts.
NZX Announcements and EBITDAF Guidance
NZX Announcements
NZX announcements for NZ Windfarms Limited (NZX code: NWF) can be accessed at the following link.
EBITDAF Guidance
Based on our EBITDAF forecast for FY25, we estimate the range to be between $3.0m - $5.5m.
While there are a number of factors that will determine whether FID occurs or not, for the purposes of providing guidance, the range is based on the assumption that FID occurs sometime in Q2 2025. The range also allows for the scenario where FID is not reached.
The FY25 EBITDAF guidance range is based on an annual production level of between 75 GWh to 106 GWh (depending on the exact date of FID), which is a higher confidence estimate based on a blend of annual averages.
The Company is 100% hedged for FY2025 and 100% hedged through to Final Investment Decision if this is delayed into FY26 (but no later than September 2025).
The net electricity price for FY2025 is estimated at $116.07 per MWh. This is a blend of VVFPA prices adjusted for location and intermittency factors and weighted by monthly production estimates and hedge ratios. EBITDAF guidance is provided on the basis of information available at this time, and may be subject to variations,
including climatic and other conditions outside the Company’s control. Forward electricity generation is based on a mix of recent annual averages adjusted for relevant factors. However, wind generation is inherently variable from one year to the next
Annual Reports
Annual Reports
2024
FY24 Annual Report FY24 Media Release FY24 Investor Presentation
2023
FY23 Annual Report FY23 Media Release FY23 Investor Presentation
2022
FY22 Annual Report FY22 Media Release FY22 Investor Presentation
2021
FY21 Annual Report FY21 Media Release FY21 Investor Presentation
2020
FY20 Annual Report FY20 Media Release FY20 Investor Presentation
2019
FY19 Annual Report FY19 Media Release FY19 Investor Presentation
2018
FY18 Annual Report FY18 Media Release
2017
Interim Reports
Interim Reports
2024
H1 FY24 Interim Report H1 FY24 Media Release H1 FY24 Investor Presentation
2023
H1 FY23 Interim Report H1 FY23 Media Release H1 FY23 Investor Presentation
2022
H1 FY22 Interim Report H1 FY22 Media Release H1 FY22 Investor Presentation
2021
H1 FY21 Interim Report H1 FY21 Media Release H1 FY21 Investor Presentation
2020
H1 FY20 Interim Report H1 FY20 Media Release H1 FY20 Investor Presentation
2019
H1 FY19 Interim Report H1 FY19 Media Release
2018
H1 FY18 Interim Report H1 FY18 Media Release
Shareholder Meetings
Shareholder Meetings
2023 - SSM
A special shareholders meeting took place on Wednesday 20 December 2023 at Link Market Services Limited (Level 30), PwC Tower, 15 Customs Street West, Auckland 1010 and was accessible online.
2023 - SSM - Notice of Meeting Virtual Meeting Guide 2023 Director Fees Report 2023 SSM Presentation 2023 SSM Script 2023 Results of SSM
2023 - ASM
The annual shareholders meeting took place on Thursday, 26 October 2023, at the Distinction Hotel (Carlton Room), 175 Cuba Street, Palmerston North 4410, and was accessible online.
2023 Notice of Meeting Virtual Meeting Guide 2023 Director Fees Report Webcast Replay 2023 AGM Presentation 2023 AGM Script 2023 Results of AGM
2022
2022 Notice of Meeting Virtual Meeting Guide Director Fees Report
Webcast Replay 2022 AGM Presentation 2022 Chair and CE Script
Dividend Policy and Dividends
Dividend Policy
The Company's dividend policy can be accessed here.
Dividends have been paused since 28 February 2023. Link to NZX announcement 28 Feb 2023
Link to latest NZX Announcement on Dividends - 27 February 2024
The Board continues to review the Company’s Dividend Policy as it assesses future capital requirements to transition from managing a single wind farm to developing a broader range of renewable energy projects.
With the Repower Project's cost projected to be between $500m and $600m and expectations of project financing covering 65% to 75% of that amount, NZ Windfarms anticipates the need to raise additional equity of approximately $40m to $75m. Additionally, the company is exploring new development opportunities beyond Te Rere Hau.
Given these factors, and despite an improved FY2024 EBITDAF forecast, complete bank debt repayment, and funds from a recent placement and rights issue, the potential variability and scale of future capital needs are presently guiding the Board's decision-making process. The possibility of distributing dividends now, only to potentially seek further capital from shareholders later (should a positive Final Investment Decision occur), is deemed not in the best interest of enhancing shareholder value. Therefore, dividend distributions will continue to be suspended.
Dividends
Operational and Industry Information
TRH Live
Live operating information can be accessed at TRH Live
Local Weather Forecast
Weather information for the Te Rere Hau Wind Farm can be accessed here
Share Price Information
Share Price information (delayed 20 minutes) for NZ Windfarms Limited (NZX code: NWF) can be accessed here
NZ Electricity Industry Information
Live operating information for the New Zealand electricity sector can be accessed at WITS (Wholesale Information Trading System)
Additional live New Zealand electricity sector information can be accessed at Transpower's website
A summary of the New Zealand electricity industry can be found on the MBIE website
Why Wind Power?
The New Zealand Wind Energy Association (NZWEA) is a rich source of information on the wind energy sector in New Zealand.
How to buy shares in the Company?
Please consult an Authorised Financial Advisor. Once you’ve made a decision, you need to use a licensed share broker or their web / smartphone app to buy or sell shares. For more information please visit the Financial Markets Authority (FMA) website.
Nothing on this website or in the attached documents or links constitutes financial advice.