Announcement
MKTUPDTE: NWF: Application Submitted for Fast-Track Consent - TRH Repower
04:21pm
NWF
17/11/2022 16:21
MKTUPDTE
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REL: 1621 HRS NZ Windfarms Limited
MKTUPDTE: NWF: Application Submitted for Fast-Track Consent - TRH Repower
17 November 2022
NZX Announcement
For immediate release
NZ WINDFARMS LIMITED: APPLICATION SUBMITTED FOR FAST-TRACK CONSENT FOR TE
RERE HAU REPOWER PROJECT
NZ Windfarms Ltd (NZX code: NWF) is pleased to confirm that resource consents
have been lodged for the Te Rere Hau Repowering Project with the
Environmental Protection Authority (EPA), under the COVID-19 Recovery
(Fast-track Consenting) Act 2020 (FTCA).
The Repower Project looks to enhance the available wind power generation
capacity from Te Rere Hau, by redesigning and optimising the wind farm
layout, including expanding the operational area of the wind farm by 100
hectares, decommissioning, and removing 97 existing two-bladed turbines, and
the construction of up to 30 larger three-bladed turbines and associated
infrastructure and civil works.
The Repower Project has the potential to generate a five-fold increase to Te
Rere Hau's average annual energy production of more than 500 GWh's per year
(FY2022: 100.2 GWh's). This would equate to 1.2% of New Zealand's current
overall electricity generation, 1.5% of renewable generation and 27% of New
Zealand's wind generation capacity. The repowered wind farm would be capable
of powering around 81,000 households a year (a population about the size of
Wellington) or 250,000 electric vehicles.
The Repower Project offers a range of economic, employment, social and
environmental benefits, both locally and nationally. These benefits include
employment, a meaningful contribution towards climate change mitigation and
supporting New Zealand's transition towards a low-emissions economy. NZ
Windfarms expects the proposed new larger three-bladed turbines to be quieter
and could be better integrated into the surrounding landscape.
Chairman Craig Stobo says "the application marks a significant milestone for
the company. By pursuing these consents, we are seeking to ensure that the
company's strategic options are optimised as an independent, fleet-footed
renewable generator and that shareholder value is maximised," he said.
"Granting consents to enable this Project will promote employment and ongoing
investment, as well as accelerating progress towards New Zealand's
aspirations of becoming a low emissions economy" said Mr Stobo.
Chief Executive Warren Koia said the company's world-class wind resource at
Te Rere Hau, and potential for even greater renewable generation warranted
the investment to seek consents and undertake initial planning and scoping
work on repowering.
"We have done a good job with our existing assets, but the opportunity to
expand renewable generation through a more efficient and productive wind farm
operation is significant," he said.
Mr Koia said the independent economic assessment indicated the project could
create an estimated 450 construction-related jobs and 67 permanent jobs over
the life of the wind farm. As this project is a repower, there is existing
infrastructure, buildings and roadways that can be reused or uprated which
provides benefits to this project.
NZ Windfarms had consulted widely on the proposed project, including with
iwi/hapu authorities with cultural ties to the Project site and the Tararua
Ranges with a view to long-term partnering agreements, as well as with
Councils, landowners, neighbours, business and government organisations, said
Mr Koia.
There are legislative timeframes embodied in the FTCA, including provisions
for the expert consenting panel to seek time extensions and we therefore
anticipate a consenting decision in the June 2023 quarter.
The consenting application will be available on the Company's website
www.nzwindfarms.co.nz once it is live on the EPA's website, www.epa.govt.nz.
This could take a period of weeks to enact based on other applications.
For further information, contact Warren Koia, Chief Executive, by phone on 06
280 2773, or by email at info@nzwindfarms.co.nz.
Nga mihi | Thank you
Craig Stobo
Chairman
End CA:00402572 For:NWF Type:MKTUPDTE Time:2022-11-17 16:21:40
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