DOCSLIB.ORG

Target Company Statement 17 September 2018

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Target Company Statement 17 September 2018 Tilt Renewables Limited Target Company Statement in response to a full takeover offer by an unincorporated joint venture established by Infratil 2018 Limited and Mercury NZ Limited 17 SEPTEMBER 2018 Your Independent Directors recommend you DO NOT ACCEPT the Joint Venture offer THIS IS AN IMPORTANT DOCUMENT AND REQUIRES YOUR IMMEDIATE ATTENTION. If you have any questions in respect of this document or the offer, you should seek advice from your independent financial or legal adviser. Letter from the Chair of the Independent Directors Dear Fellow Shareholder, You recently received a Takeover Offer for all of your Tilt Renewables shares at $2.30 per share (the “Offer”). The Offer is from a joint venture (the “JV”) comprising Tilt Renewables’ two largest shareholders, Infratil (through a subsidiary) and Mercury. The Independent Directors of Tilt Renewables strongly recommend shareholders do not accept the Offer. You should ignore the Offer documents sent to you by the JV and take no action. The Offer of $2.30 per share is significantly below the Independent Adviser’s valuation range of $2.56 to $3.01 per share (midpoint of $2.79). The Independent Adviser believes the Offer price is “lower than the underlying value of the Company” and has concluded “the Offer price is not compelling”. The Independent Adviser’s Report is in this Target Company Statement for you to read. Shareholders can be assured that none of the Independent Directors will be accepting the Offer for any of the Tilt Renewables shares they own or control. The reasons why you should not accept the Offer are set out in Section 1 of this Target Company Statement. The primary reasons are: 1. The Offer price of $2.30 is significantly below the Independent Adviser’s assessment of value. The Independent Adviser has assessed a value range for Tilt Renewables of $2.56 to $3.01 with a midpoint of $2.79. 2. The Offer price does not fully value the significant benefits to the company that shareholders can expect from the proposed Dundonnell Wind Farm, assuming it proceeds. The Offer was made before the recent positive announcement regarding this project. 3. The Offer price does not fully recognise the value of Tilt Renewables’ existing operational assets and the potential of our development pipeline of future projects. 4. The Offer price is only an 8% premium to the value of your shares immediately prior to the Offer being announced. This is not a sufficient takeover premium for your Tilt Renewables shares and is even less so now given the recent announcement regarding the proposed Dundonnell Wind Farm. 5. The Offer has no compelling merits that overcome the significant shortfall in value offered. 1 … if the major shareholders are to acquire full control of Tilt Renewables they should pay a fair price. Tilt Renewables offers its shareholders a unique investment opportunity. Tilt Renewables is extremely well positioned to be a significant part of, and benefit from, the global push towards renewable energy and reducing carbon emissions. We are poised to make a major difference to the size of renewable energy generation in Australia and New Zealand. We have a high quality portfolio of operational assets complemented by arguably the best renewable energy pipeline in Australia and New Zealand. Your Independent Directors have full confidence in management’s ability to deliver projects from planning through to completion. This has been demonstrated by the development of our Salt Creek Wind Farm and the very recent announcement that we have been successful in securing an offtake agreement with the Victorian Government with respect to approximately 37% of the output from our proposed 80 turbine 336MW Wind Farm at Dundonnell (“Dundonnell”). Our core focus is to deliver value to all shareholders and we want all of our shareholders to benefit from the future value we believe is available throughTilt Renewables. We believe that if the major shareholders are to acquire full control of Tilt Renewables they should pay a fair price. The Offer must remain open until 11:59pm NZT on 15 October 2018. If you accept the Offer, your decision is final and cannot be revoked. This document sets out your Independent Directors’ formal response to the Offer, including reasons why you should not accept the Offer. I encourage you to read this document carefully. If you are in any doubt about how to respond to the Offer, please email the Independent Directors at [email protected] or seek financial advice from an independent, qualified adviser. As the Offer process progresses, we will keep you updated on any significant developments. On behalf of your Independent Directors, I thank you for your support. Yours sincerely Fiona Oliver Chair of the Independent Directors 2 Contents Section 1: Independent Directors’ Recommendations 4 Section 2: Takeovers Code Disclosures 21 Appendix 1: Independent Adviser’s Report 53 Appendix 2: Simmons Corporate Finance report obtained by the JV pursuant to Rule 22 of the Takeovers Code 108 All currency amounts refer to New Zealand Dollars unless otherwise stated 3 SECTION 1: Independent Directors’ Recommendation 4 The Independent Directors recommend you Do Not Accept the Offer from the JV in respect of your shares in Tilt Renewables Why you should Not Accept the Offer The Offer price of $2.30 is significantly below the Independent 1 Adviser’s assessment of value. The Independent Adviser has assessed a value range for Tilt Renewables of $2.56 to $3.01 per share with a midpoint of $2.79. The Independent Adviser believes the Offer price is “lower than the underlying value of the Company” and has concluded “the Offer price is not compelling”. The Offer price does not fully value the significant benefits to 2 the company that shareholders can expect from the proposed Dundonnell Wind Farm, assuming it proceeds. The Offer was made before the recent positive announcement regarding this project. The Offer price does not fully recognise the value of 3 Tilt Renewables’ existing operational assets and the potential of our development pipeline of future projects. The Offer price is only an 8% premium to the value of your shares 4 immediately prior to the Offer being announced. This is not a sufficient takeover premium for your Tilt Renewables shares and is even less so now given the recent announcement regarding the proposed Dundonnell Wind Farm. The Offer has no compelling merits that overcome the significant 5 shortfall in value offered. 5 The Offer price of $2.30 is significantly below the Independent Adviser’s assessment of value. The Independent Adviser believes the Offer price is “lower than the underlying value of the Company” and has concluded “the Offer price is not compelling”. Northington Partners Limited (the “Independent Adviser”) was engaged to prepare an Independent Adviser’s Report to assess the merits of the Offer for Tilt 1 Renewables’ shareholders. Its independent report is attached in full in Appendix 1 of this Target Company Statement. The Independent Adviser’s valuation confirms the view of the Independent Directors that the Offer is inadequate. The Independent Adviser has assessed a valuation range of $2.56 to $3.01 for Tilt Renewables with a mid-point of $2.79. This is significantly higher than the $2.30 Offer price. This Independent Adviser’s valuation includes the expected benefit from the recent Dundonnell announcement (see our discussion in point 2 below). The Offer price of $2.30 per share is significantly below the Independent Adviser’s assessment of value $3.20 $3.01 $3.00 Mid-point $2.79 $2.80 $2.60 $0.49 VALUE $2.40 DIFFERENTIAL $2.56 $2.20 $2.30 $2.00 $0.00 Offer price Independent Adviser’s valuation 6 The Offer price does not fully value the significant benefits to the company that shareholders can expect from Dundonnell, assuming it proceeds. The Offer was made before the recent positive announcement regarding this project. We are currently working toward developing Dundonnell which comprises 80 turbines delivering 336MW of capacity. On Tuesday 11 September 2018, 2 Tilt Renewables was advised it had been successful with its bid into the Victorian Renewable Energy Auction Scheme (“VREAS”) to secure a 15-year contract from the Victorian Government for 37% of the output from Dundonnell (the “Dundonnell announcement”). Additionally, Tilt Renewables is continuing to pursue further contracting opportunities for the uncontracted portion of Dundonnell’s output, similar to the strategy successfully adopted for the recently completed Salt Creek Wind Farm. Dundonnell has received all required planning and environmental approvals. Our funding arrangements are in place, including support from our major shareholders. The final investment decision to proceed is yet to be made by the board ofTilt Renewables, but is expected to be considered before the end of this year. If approved, construction is expected to begin early in 2019 with completion scheduled for mid to late 2020. Shareholder approval has already been obtained for the project. Upon completion, the project will increase our operating asset base by around 50% and, as was made clear in the statement released to the NZX by Tilt Renewables at the time of the Dundonnell announcement, the potential impact on company performance is very significant. The Independent Adviser has assessed the total value to Tilt Renewables of Dundonnell at 33c to 44c per share. Of this value, the Independent Adviser attributes approximately 22c per share to the recent Dundonnell announcement given the greater certainty of the project as a result of being successful with the bid into VREAS. The Offer was made before the Dundonnell announcement and does not appear to provide any recognition of this increased value. Shareholders should expect to get full value for it.
Load more

Recommended publications
  • F O R Im M E D Ia T E R E L E A
    Article No. 8115 Available on www.roymorgan.com Link to Roy Morgan Profiles Friday, 30 August 2019 Powershop still number one in electricity satisfaction, despite losing spark in recent months Powershop has won the Roy Morgan Electricity Provider of the Month Award with a customer satisfaction rating of 78% for July 2019. Powershop has now won the past seven monthly awards, remaining unbeaten in 2019. Powershop’s customer satisfaction rating of 78% was followed by Lumo Energy (71%), Simply Energy (70%), Click Energy (70%), Red Energy (70%) and Alinta Energy (70%). E These are the latest findings from the Roy Morgan Single Source survey derived from in-depth face-to- face interviews with 1,000 Australians each week and over 50,000 each year. Powershop managed to maintain its number one position in customer satisfaction, despite it recording the largest decline in ratings of any leading provider, falling from 87% in January 2019, to 78% (-9%) as of July 2019. Over the same period, Lumo Energy, Simply Energy and Click Energy all fell by 4%, Red Energy remained steady, and Alinta Energy increased its rating by 1%. Although Powershop remains well clear of its competitors, if its consistent downtrend in ratings continues for the next few months, we may well see another electricity provider take the lead in customer satisfaction. The Roy Morgan Customer Satisfaction Awards highlight the winners but this is only the tip of the iceberg. Roy Morgan tracks customer satisfaction, engagement, loyalty, advocacy and NPS across a wide range of industries and brands. This data can be analysed by month for your brand and importantly your competitive set.
    [Show full text]
  • Report: the Social and Economic Impact of Rural Wind Farms
    The Senate Community Affairs References Committee The Social and Economic Impact of Rural Wind Farms June 2011 © Commonwealth of Australia 2011 ISBN 978-1-74229-462-9 Printed by the Senate Printing Unit, Parliament House, Canberra. MEMBERSHIP OF THE COMMITTEE 43rd Parliament Members Senator Rachel Siewert, Chair Western Australia, AG Senator Claire Moore, Deputy Chair Queensland, ALP Senator Judith Adams Western Australia, LP Senator Sue Boyce Queensland, LP Senator Carol Brown Tasmania, ALP Senator the Hon Helen Coonan New South Wales, LP Participating members Senator Steve Fielding Victoria, FFP Secretariat Dr Ian Holland, Committee Secretary Ms Toni Matulick, Committee Secretary Dr Timothy Kendall, Principal Research Officer Mr Terence Brown, Principal Research Officer Ms Sophie Dunstone, Senior Research Officer Ms Janice Webster, Senior Research Officer Ms Tegan Gaha, Administrative Officer Ms Christina Schwarz, Administrative Officer Mr Dylan Harrington, Administrative Officer PO Box 6100 Parliament House Canberra ACT 2600 Ph: 02 6277 3515 Fax: 02 6277 5829 E-mail: [email protected] Internet: http://www.aph.gov.au/Senate/committee/clac_ctte/index.htm iii TABLE OF CONTENTS MEMBERSHIP OF THE COMMITTEE ...................................................................... iii ABBREVIATIONS .......................................................................................................... vii RECOMMENDATIONS ................................................................................................. ix CHAPTER
    [Show full text]
  • Victorian Energy Prices July 2017
    Victorian Energy Prices July 2017 An update report on the Victorian Tarif-Tracking Project Disclaimer The energy offers, tariffs and bill calculations presented in this report and associated workbooks should be used as a general guide only and should not be relied upon. The workbooks are not an appropriate substitute for obtaining an offer from an energy retailer. The information presented in this report and the workbooks is not provided as financial advice. While we have taken great care to ensure accuracy of the information provided in this report and the workbooks, they are suitable for use only as a research and advocacy tool. We do not accept any legal responsibility for errors or inaccuracies. The St Vincent de Paul Society and Alviss Consulting Pty Ltd do not accept liability for any action taken based on the information provided in this report or the associated workbooks or for any loss, economic or otherwise, suffered as a result of reliance on the information presented. If you would like to obtain information about energy offers available to you as a customer, go to the Victorian Government’s website www.switchon.vic.gov.au or contact the energy retailers directly. Victorian Energy Prices July 2017 An update report on the Victorian Tariff-Tracking Project May Mauseth Johnston, September 2017 Alviss Consulting Pty Ltd © St Vincent de Paul Society and Alviss Consulting Pty Ltd This work is copyright. Apart from any use permitted under the Copyright Act 1968 (Ctw), no parts may be adapted, reproduced, copied, stored, distributed, published or put to commercial use without prior written permission from the St Vincent de Paul Society.
    [Show full text]
  • Energy Charter 2020 IAP Disclosure.Pdf
    2020 Disclosure Report to the IAP Leveraging high impact points to drive meaningful change for customers Message from our Chair The Energy Charter, starting to deliver The Energy Charter is a whole of sector initiative of 19 CEOs working together across electricity, gas and renewables to put customers at the centre of our businesses. We are not an industry body or a regulator – the Energy Charter is focused outward, on our customers, not on ourselves. We aim for “highest common denominator” – pushing each other to deliver for customers by promoting examples of best practice for signatories to adopt and collaborating in targeted groups to deliver specific projects through our #BetterTogether initiatives. Last year was foundational for the Energy Charter. In 2020, it is all about delivery: what is different and better for our customers because the Energy Charter exists? This has been an extremely challenging year for our customers, communities and signatories with bushfires, floods and the COVID-19 pandemic. However, with these challenges also come unique opportunities to better support Australians, to step beyond business-as-usual and demonstrate as a sector we are working together on the vision of the Energy Charter to “deliver energy for a better Australia”. REAL CHANGE FOR CUSTOMERS What have we done that has made an actual difference for the customer this year? My top three: 1. Stakeholders have told us that it is hard to get an overall picture of the level of customer service that the industry provides. In response, we have committed that each signatory will disclose their customer satisfaction scores.
    [Show full text]
  • Tax On, Tax Off
    Tax on, Tax off: Electricity prices before and after the repeal of the carbon tax November 2014 Disclaimer The energy offers, tariffs and bill calculations presented in this report should be used as a general guide only and should not be relied upon. The information presented in this report is not provided as financial advice. While we have taken great care to ensure accuracy of the information provided in this report, it is suitable for use only as a research and advocacy tool. We do not accept any legal responsibility for errors or inaccuracies. Alviss Consulting Pty Ltd does not accept liability for any action taken based on the information provided in this report or for any loss, economic or otherwise, suffered as a result of reliance on the information presented. If you would like to obtain information about energy offers available to you as a customer, go to the relevant regulator’s website or contact the energy retailers directly. Tax on, Tax off: Electricity prices before and after the repeal of the carbon tax May Mauseth Johnston, Alviss Consulting Canberra, 17 November 2014 © Alviss Consulting Pty Ltd This work is copyright. Apart from any use permitted under the Copyright Act 1968 (Ctw), no parts may be adapted, reproduced, copied, stored, distributed, published or put to commercial use without prior written permission from the Alviss Consulting. Tax on, Tax off: Electricity prices before and after the repeal of the carbon tax November 2014 Tax on, Tax off: Electricity prices before and after 3 Acknowledgements This project was funded by grant from the Consumer Advocacy Panel (www.advocacypanel.com.au) as part of its grants process for consumer advocacy projects and research projects for the benefit of consumers of electricity and natural gas.
    [Show full text]
  • White Rock Wind and Solar Farm
    WHITE ROCK Solar Farm NEWSLETTER AUGUST 2017 WHITE ROCK WHITE ROCK Wind Farm Solar Farm Turning the first sod at the White Rock Solar Farm project site. From the left: Acting Mayor of Inverell Shire Council - Cr Anthony Michael, Vice President Investment of Goldwind Australia - Mr Ning Chen, Deputy Prime Minister and Member for New England - Mr Barnaby Joyce, Managing Director of Goldwind Australia - Mr John Titchen, Mayor of Glen Innes Severn Council – Cr Steve Toms. Welcome to the second combined White Rock Wind Farm and White Rock What’s happening? Solar Farm newsletter. This newsletter White Rock Wind Farm switches on turbines The first turbines at White Rock Wind Farm have now been provides information and updates connected to TransGrid’s network and are producing electricity. about both projects. Newsletters will NSW transmission network operator and manager TransGrid, continue to be distributed regularly along with sub-contractor Zinfra, designed, constructed and commissioned White Rock Wind Farm’s 33/132 kV substation and as the projects progress and milestones transmission line to connect the project to the NSW transmission are achieved. network and the National Electricity Market. The 175 megawatt (MW) White Rock Wind Farm White Rock Solar Farm Ground-Breaking Ceremony is in the New England Tablelands approximately On Monday 10 July, a Ground-Breaking Ceremony was held 20 km west of Glen Innes and 40 km east of Inverell. on the solar farm project site to celebrate the start of Stage 1 will consist of 70 wind turbines along with the construction. related civil and electrical infrastructure. The project is expected to be fully operational by late-2017.
    [Show full text]
  • Automate CP.Xlsm
    FCAS Causer Pays Settlement Factors Issued: 10/12/2020 Period of Application: 27/12/2020 to 23/01/2021 Sample Period: 12:05AM, 8/11/2020 to 12:00AM, 6/12/2020 Queensland, New South Wales, Victoria, South Australia and Tasmania Region Causer Pays Factors Scheduled and Semi-Scheduled Aggregations Factor AETV Pty Ltd 0.013562453 AGL Hydro Partnership 4.012190653 AGL Loy Yang Marketing Pty Ltd 0 AGL Macquarie Pty Limited 0 AGL PARF NSW Pty Ltd 2.310470219 AGL PARF QLD Pty Limited 0.46800389 AGL SA Generation Pty Limited 1.849553623 Alinta Energy Retail Sales Pty Ltd 0.449145117 Ararat Wind Farm Pty Ltd 0.875407241 Arrow Southern Generation Pty Ltd And Arrow Braemar 2 Pty Ltd 0.042579354 Boco Rock Wind Farm Pty Ltd 0.433630577 Bodangora Wind Farm Pty Limited 0.382480317 Bomen Solar Farm Pty Ltd As Trustee For Bomen SF Trust 0.556490672 Braemar Power Project Pty Ltd 0.706700821 Bulgana Wind Farm Pty Ltd 0.837111039 Callide Power Trading Pty Limited 0 Cherry Tree Wind Farm Pty Ltd As Trustee For The Cherry Tree Project Trust 0.156136526 Childers Solar Pty Ltd ATF The Childers Solar Trust 0.080755682 Clare Solar Farm Pty Ltd 0.651235137 CleanCo Queensland Limited 1.758098911 Clermont Asset Co Pty Ltd ATF Clermont Solar Unit Trust 0 Coleambally Solar Pty Ltd 1.111648664 Collector Wind Farm Pty Ltd 0.185651799 Crookwell Development Pty Ltd 0.401146682 CRWF Nominees Pty Ltd As Trustee For The CRWF Trust 0 CS Energy Limited 0 Darling Downs Solar Farm Pty Ltd 0.875202842 Darlington Point Solar Farm Pty Ltd 0.660040796 Daydream Solar Farm Pty Ltd As
    [Show full text]
  • BUILDING STRONGER COMMUNITIES Wind's Growing
    BUILDING STRONGER COMMUNITIES Wind’s Growing Role in Regional Australia 1 This report has been compiled from research and interviews in respect of select wind farm projects in Australia. Opinions expressed are those of the author. Estimates where given are based on evidence available procured through research and interviews.To the best of our knowledge, the information contained herein is accurate and reliable as of the date PHOTO (COVER): of publication; however, we do not assume any liability whatsoever for Pouring a concrete turbine the accuracy and completeness of the above information. footing. © Sapphire Wind Farm. This report does not purport to give nor contain any advice, including PHOTO (ABOVE): Local farmers discuss wind legal or fnancial advice and is not a substitute for advice, and no person farm projects in NSW Southern may rely on this report without the express consent of the author. Tablelands. © AWA. 2 BUILDING STRONGER COMMUNITIES Wind’s Growing Role in Regional Australia CONTENTS Executive Summary 2 Wind Delivers New Benefits for Regional Australia 4 Sharing Community Benefits 6 Community Enhancement Funds 8 Addressing Community Needs Through Community Enhancement Funds 11 Additional Benefts Beyond Community Enhancement Funds 15 Community Initiated Wind Farms 16 Community Co-ownership and Co-investment Models 19 Payments to Host Landholders 20 Payments to Neighbours 23 Doing Business 24 Local Jobs and Investment 25 Contributions to Councils 26 Appendix A – Community Enhancement Funds 29 Appendix B – Methodology 31 References
    [Show full text]
  • Final Report
    RELIABILITY PANEL Reliability Panel AEMC FINAL REPORT 2020 ANNUAL MARKET REVIEW PERFORMANCE REVIEW 20 MAY 2021 Reliability Panel AEMC Final report Final Report 20 May 2021 INQUIRIES Reliability Panel c/- Australian Energy Market Commission GPO Box 2603 Sydney NSW 2000 E [email protected] T (02) 8296 7800 Reference: REL0081 CITATION Reliability Panel, 2020 Annual Market Performance Review, Final report, 20 May 2021 ABOUT THE RELIABILITY PANEL The Panel is a specialist body established by the Australian Energy Market Commission (AEMC) in accordance with section 38 of the National Electricity Law and the National Electricity Rules. The Panel comprises industry and consumer representatives. It is responsible for monitoring, reviewing and reporting on reliability, security and safety on the national electricity system, and advising the AEMC in respect of such matters. This work is copyright. The Copyright Act 1968 permits fair dealing for study, research, news reporting, criticism and review. Selected passages, tables or diagrams may be reproduced for such purposes provided acknowledgement of the source is included. Reliability Panel AEMC Final report Final Report 20 May 2021 RELIABILITY PANEL MEMBERS Charles Popple (Chairman), Chairman and AEMC Commissioner Stephen Clark, Marinus Link Project Director, TasNetworks Kathy Danaher, Chief Financial Officer and Executive Director, Sun Metals Craig Memery, Director - Energy + Water Consumer's Advocacy Program, PIAC Ken Harper, Group Manager Operational Support, AEMO Keith Robertson, General Manager Regulatory Policy, Origin Energy Ken Woolley, Executive Director Merchant Energy, Alinta Energy John Titchen, Managing Director, Goldwind Australia David Salisbury, Executive Manager Engineering, Essential Energy Reliability Panel AEMC Final report Final Report 20 May 2021 FOREWORD I am pleased to present this report setting out the findings of the Reliability Panel's (Panel) annual review of market performance, for the period 2019-20.
    [Show full text]
  • 1 National Electricity Market at a Glance 100 • Assisting the ACCC to Monitor Energy Market Behaviour Erawatt
    Mortlake Power Station (Origin Energy) 1 NATIONAL ELECTRICITY MARKET CHAPTER 1 The National Electricity Market (NEM) is a wholesale market 1.1 Electricity demand MARKET ELECTRICITY NATIONAL in which generators sell electricity in eastern and southern Box 1.1: The AER’s role in the National Electricity Market Australia (table 1.1). The main customers are energy The NEM supplies electricity to over nine million residential The AER monitors the NEM to ensure market participants • investigating Snowy Hydro’s alleged failure to follow retailers, which bundle electricity with network services for and business customers. In 2013−14 the market generated comply with the underpinning legislation and rules, and dispatch instructions from the Australian Energy Market sale to residential, commercial and industrial energy users. 194 terawatt hours (TWh) of electricity—a 2.5 per cent to detect irregularities and wider harm issues. We report Operator (AEMO). In July 2014, the AER instituted The Australian Energy Regulator (AER) plays a number of reduction from the previous year, and around 3 per cent on these issues to strengthen market transparency and proceedings in the Federal Court against Snowy Hydro 1 roles in the market (box 1.1). below forecast. This outcome continues a trend of declining confi dence. In 2013–14 we published weekly reports for alleged contraventions of the National Electricity 2 electricity consumption from the NEM grid (fi gure 1.1). 5 The NEM covers six jurisdictions—Queensland, New South on NEM performance, fi ve reports on high price events Rules (section 1.11). Over the past fi ve years, grid consumption declined by an (section 1.9.4), and a special report on unusual market Wales (NSW), the Australian Capital Territory (ACT), Victoria, Our wider policy work in 2013–14 included: average 1.7 per cent annually across the market.
    [Show full text]
  • Stockyard Hill Wind Farm
    Stockyard Hill Wind Farm Submission to Support Application to Amend Planning Permit No. PL-SP/05/0548 May 2016 (Updated August 2016) Final S ubmissio n to S u ppo rt A pplic ation to A m end P lannin g P er mit No . P L-S P /0 5/05 48 S t ockya rd Hill Wind F arm P ty Ltd Submission to Support Application to Amend Planning Permit No. PL-SP/05/0548 Stockyard Hill Wind Farm Project No: IS117500 Document Title: Submission to Support Application to Amend Planning Permit No. PL- SP/05/0548 Revision: Final Date: May 2016 (Updated August 2016) Client Name: Stockyard Hill Wind Farm Pty Ltd Project Manager: Cara Layton Author: Cara Layton Jacobs Group (Australia) Pty Limited ABN 37 001 024 095 Floor 11, 452 Flinders Street Melbourne VIC 3000 PO Box 312, Flinders Lane Melbourne VIC 8009 Australia T +61 3 8668 3000 F +61 3 8668 3001 www.jacobs.com © Copyright 2016 Jacobs Group (Australia) Pty Limited. The concepts and information contained in this document are the property of Jacobs. Use or copying of this document in whole or in part without the written permission of Jacobs constitutes an infringement of copyright. Limitation: This report has been prepared on behalf of, and for the exclusive use of Jacobs’ Client, and is subject to, and issued in accordance with, the provisions of the contract between Jacobs and the Client. Jacobs accepts no liability or responsibility whatsoever for, or in respect of, any use of, or reliance upon, this report by any third party.
    [Show full text]
  • Quarterly Energy Dynamics Q1 2020
    Quarterly Energy Dynamics Q1 2020 Market Insights and WA Market Operations Important notice PURPOSE AEMO has prepared this report to provide energy market participants and governments with information on the market dynamics, trends and outcomes during Q1 2020 (1 January to 31 March 2020). This quarterly report compares results for the quarter against other recent quarters, focusing on Q4 2019 and Q1 2019. Geographically, the report covers: • The National Electricity Market – which includes Queensland, New South Wales, the Australian Capital Territory, Victoria, South Australia and Tasmania. • The Wholesale Electricity Market operating in Western Australia. • The gas markets operating in Queensland, New South Wales, Victoria and South Australia. DISCLAIMER This document or the information in it may be subsequently updated or amended. This document does not constitute legal or business advice, and should not be relied on as a substitute for obtaining detailed advice about the National Electricity Law, the National Electricity Rules, the Wholesale Electricity Market Rules, the National Gas Law, the National Gas Rules, the Gas Services Information Regulations or any other applicable laws, procedures or policies. AEMO has made every effort to ensure the quality of the information in this document but cannot guarantee its accuracy or completeness. Accordingly, to the maximum extent permitted by law, AEMO and its officers, employees and consultants involved in the preparation of this document: • make no representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of the information in this document; and • are not liable (whether by reason of negligence or otherwise) for any statements or representations in this document, or any omissions from it, or for any use or reliance on the information in it.
    [Show full text]