Stockyard Hill Wind Farm
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Meridian Energy
NEW ZEALAND Meridian Energy Performance evaluation Meridian Energy equity valuation Macquarie Research’s discounted cashflow-based equity valuation for Meridian Energy (MER) is $6,531m (nominal WACC 8.6%, asset beta 0.60, TGR 3.0%). Forecast financial model A detailed financial model with explicit forecasts out to 2030 has been completed and is summarised in this report. Inside Financial model assumptions and commentary Performance evaluation 2 We discuss a number of key model input assumptions in the report including: Valuation summary 6 Wholesale and retail electricity price paths; Financial model assumptions 8 Electricity purchase to sales price ratio pre and post the HVDC link upgrade; Financial statements summary 18 HVDC link charging regime; Financial flexibility and generation Electricity demand growth by customer type; development 21 The impact of the Electricity Industry Act (EIA) asset transfer and VAS’; Sensitivities 22 The New Zealand Aluminium Smelters (NZAS) supply contract; Alternative valuation methodologies 23 Relative disclosure 24 MER’s generation development pipeline. Appendix – Valuation Bridge 26 Equity valuation sensitivities are provided on key variables. Alternative valuation methodology We have assessed a comparable company equity valuation for the company of $5,179m-$5,844m. This is based on the current earnings multiples of listed comparable generator/retailers globally. This valuation provides a cross-check of the equity valuation based on our primary methodology, discounted cashflow. This valuation range lies below our primary valuation due, in part to the positive net present value of modelled development projects included in our primary valuation. Relative disclosure We have assessed the disclosure levels of MER’s financial reports and presentations over the last financial period against listed and non-listed companies operating in the electricity generation and energy retailing sector in New Zealand. -
Meridian Energy
NEW ZEALAND Meridian Energy Performance evaluation Meridian Energy equity valuation Macquarie Research’s discounted cashflow-based equity valuation for Meridian Energy (MER) is $6,463m (nominal WACC 8.6%, asset beta 0.60, TGR 3.0%). We have assumed, in this estimate, that MER receives $750m for its Tekapo A and B assets. Forecast financial model Inside A detailed financial model with explicit forecasts out to 2030 has been completed and is summarised in this report. Performance evaluation 2 Financial model assumptions and commentary Valuation summary 5 We have assessed the sensitivity of our equity valuation to a range of inputs. Financial model assumptions and Broadly, the sensitivities are divided into four categories: generation commentary 7 assumptions, electricity demand, financial and price path. Financial statements summary 15 We highlight and discuss a number of key model input assumptions in the report: Financial flexibility and generation Wholesale electricity price path; development 18 Electricity demand and pricing; Sensitivities 19 The New Zealand Aluminium Smelters (NZAS) supply contract; Alternative valuation methodologies 20 Relative disclosure 21 MER’s generation development pipeline. Alternative valuation methodology We have assessed a comparable company equity valuation for the company of $4,942m-$6,198m. This is based on the current earnings multiples of listed comparable generator/retailers globally. This valuation provides a cross-check of the equity valuation based on our primary methodology, discounted cashflow. This valuation range lies below our primary valuation due, in part, to the recent de-rating of global renewable energy multiples (absolutely and vis-a-vis conventional generators). Relative disclosure We have assessed the disclosure levels of MER’s financial reports and presentations over the last financial period against listed and non-listed companies operating in the electricity generation and energy retailing sector in New Zealand. -
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 -
Clean Energy Australia
CLEAN ENERGY AUSTRALIA REPORT 2016 Image: Hornsdale Wind Farm, South Australia Cover image: Nyngan Solar Farm, New South Wales CONTENTS 05 Introduction 06 Executive summary 07 About us 08 2016 snapshot 12 Industry gears up to meet the RET 14 Jobs and investment in renewable energy by state 18 Industry outlook 2017 – 2020 24 Employment 26 Investment 28 Electricity prices 30 Energy security 32 Energy storage 34 Technology profiles 34 Bioenergy 36 Hydro 38 Marine 40 Solar: household and commercial systems up to 100 kW 46 Solar: medium-scale systems between 100 kW and 5 MW 48 Solar: large-scale systems larger than 5 MW 52 Solar water heating 54 Wind power 58 Appendices It’s boom time for large-scale renewable energy. Image: Greenough River Solar Farm, Western Australia INTRODUCTION Kane Thornton Chief Executive, Clean Energy Council It’s boom time for large-scale of generating their own renewable renewable energy. With only a few energy to manage electricity prices that years remaining to meet the large-scale continue to rise following a decade of part of the Renewable Energy Target energy and climate policy uncertainty. (RET), 2017 is set to be the biggest year The business case is helped by for the industry since the iconic Snowy Bloomberg New Energy Finance Hydro Scheme was finished more than analysis which confirms renewable half a century ago. energy is now the cheapest type of While only a handful of large-scale new power generation that can be renewable energy projects were built in Australia, undercutting the completed in 2016, project planning skyrocketing price of gas and well below and deal-making continued in earnest new coal – and that’s if it is possible to throughout the year. -
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. -
Id Land Pty Ltd Woods Road, Truganina Expert Witness
ID LAND PTY LTD WOODS ROAD, TRUGANINA EXPERT WITNESS STATEMENT 1 EXECUTIVE SUMMARY Draft prepared by Andrea Murphy 15 November 2013 Suite A3, 8 Rogers Street Port Melbourne VIC 3207 Suite 4, 46-50 Old Princes Highway Beaconsfield VIC 3807 PO Box 776 Beaconsfield VIC 3807 2 CONTENTS PAGE 1 PERSONAL DETAILS 2 QUALIFICATIONS AND EXPERIENCE 3 AREA OF EXPERTISE & STATEMENT OF EXPERTISE TO MAKE THE REPORT 4 INSTRUCTIONS AND SCOPE OF REPORT 5 SUMMARY OF OPINION 6 DECLARATION 3 1 PERSONAL DETAILS My name is Andrea Murphy, and I am the Director and Principal archaeologist and heritage advisor at Tardis Enterprises Pty Ltd trading as Archaeology at Tardis, heritage advisors and archaeologists. The head office is situated at Suite 4 46-50 Old Princes Highway, Beaconsfield 3807, Victoria. 2 QUALIFICATIONS AND EXPERIENCE I have a degree in Archaeology majoring in Australian Archaeology (Aboriginal) completed in 1984, and a Masters of Arts (Prelim) in Historic (non-Aboriginal) Archaeology, completed in 1991. I am a member and office bearer of the following affiliated bodies: ° Australian Society of Historic Archaeology (State Delegate) ° Australian Association of Consulting Archaeologists (Victorian Chairperson, Full Member, National Executive Committee Member) ° Australian Anthropological and Archaeological Society ° National Trust (VIC) ° Royal Victorian Historical Society ° Australia ICOMOS Full International Member ° Heritage Advisor Status (Aboriginal Affairs Victoria) I have been a practising archaeologist and heritage advisor since 1988, having worked for a number of private sector and government agencies in the capacity of an archaeologist until establishing Tardis Enterprises Pty Ltd in 1994. Tardis Enterprises Pty Ltd, which now trades as Archaeology at Tardis (AAT) is a leading consulting firm with 15 senior staff, and 10 supporting and sub-contracting personal. -
Application for Generation License
Application for Generation License Lal Lal Wind Farms Nom Co Pty Limited ABN: 37 625 768 774 Website: www.lallalwindfarms.com.au Tel: 1800 187 183 2 TABLE OF CONTENTS 1. Information on the Applicant and Nature of the application ____________ 4 1.1 Introduction __________________________________________________________ 4 1.2 Applicant Details ______________________________________________________ 5 1.3 Corporate Structure ____________________________________________________ 5 1.4 Organisational Structure ________________________________________________ 6 1.5 Project Expertise ______________________________________________________ 8 1.6 Experience of Key Personnel ____________________________________________ 11 1.7 Details of key contracts and agreements ___________________________________ 12 1.8 Planning and Environment ______________________________________________ 16 2. Essential services commisson objectives _________________________ 19 2.1 Efficiency in the industry and incentives for long term investment _____________ 19 2.2 Financial viability of the industry _______________________________________ 19 2.3 The degree of, and scope for, competition within the industry, including countervailing market power and information asymmetries ___________________________________ 20 2.4 The relevant health, safety, environmental and social legislation applying to the industry ________________________________________________________________ 20 2.5 The benefits and costs of regulation for consumers and regulated entities _______ 20 3. Information -
Prospectus Limited Windlab Limited ACN 104 461 958 Prospectus
Windlab Limited Windlab Windlab Limited ACN 104 461 958 Prospectus Prospectus Financial Advisor & Lead Manager Initial Public Offering of 25,000,000 shares at an offer price of $2.00 per share. Important Notices The Offer Except as required by law, and only to the Any forward-looking statements involve known This Replacement Prospectus is issued by extent required, no person named in this and unknown risks, uncertainties, assumptions Windlab Limited (ACN 104 461 958) (Windlab Prospectus, nor any other person, warrants and other important factors that could cause or Company) and Windlab SaleCo Limited or guarantees the performance of the actual events or outcomes to differ materially (ACN 620 718 372) (SaleCo) for the purposes of Company or the repayment of capital by from the events or outcomes expressed or Chapter 6D of the Corporations Act 2001 (Cth) the Company or any return on investment anticipated in these statements, many of (Corporations Act). The offer contained in this made pursuant to this Prospectus. which are beyond the control of Windlab. Prospectus is an invitation to acquire fully paid This Prospectus includes information regarding The Forecast Financial Information and the ordinary shares (Shares) in the Company (Offer). past performance of Windlab. Investors should forward-looking statements should be read in be aware that past performance is not indicative conjunction with, and qualified by reference Lodgement and listing of future performance. to, the risk factors as set out in Section 6, This Replacement Prospectus is dated 4 August the specific and general assumptions set out No person is authorised to give any information in Sections 4.7.1, the sensitivity analysis set out 2017 and a copy was lodged with the Australian or to make any representation in connection Securities and Investments Commission (ASIC) in Section 4.9 and other information contained with the Offer described in this Prospectus in this Prospectus. -
Meridian Energy Annual Report for Year Ended !" June #"$" How Much Power?
Meridian Energy Annual Report for year ended !" June #"$" How much power? Meridian is the largest state-owned electricity generator in New Zealand, providing around 30% of New Zealand's total generation. We also retail electricity to more than 180,000 residential, rural and business customers. NAME: CalRENEW!1 NO. OF PV PANELS: %",""" CAPACITY: %MW TOTAL GWh PRODUCED !"##$%&#' # i NAME: Mt Millar3 NAME: Ross Island NO. OF TURBINES: !% NAME: Macarthur2 NO. OF TURBINES: ! CAPACITY: &"MW LOCATION: Victoria CAPACITY: $MW TOTAL GWh PRODUCED STAGE: Pre-construction design !"##$%&#' $" CAPACITY: '#"MW NAME: Mt Mercer LOCATION: Victoria STAGE: Pre-construction design CAPACITY: $!"MW Front Cover: The Ross Island wind farm and Mt Erebus from Observation Hill, Antarctica. Courtesy of George Blaisdell, Antarctica NZ Pictorial Collection. NAME: Central Wind NAME: Te Āpiti STAGE: Consented NO. OF TURBINES: ## CAPACITY: !"$MW CAPACITY: '$MW TOTAL GWh PRODUCED !"##$%&#' %"# TOTAL GWh PRODUCED !"##(%#$' %$' NAME: Ohau A NAME: Te Uku NO. OF GENERATORS: & STAGE: Under construction CAPACITY: ")&MW CAPACITY: )&MW NAME: West Wind TOTAL GWh PRODUCED !,!%& !"##$%&#' NO. OF TURBINES: )" NAME: Mill Creek TOTAL GWh PRODUCED '(% CAPACITY: !&%MW !"##(%#$' STAGE: Environment Court appeal TOTAL GWh PRODUCED &'* CAPACITY: )*MW !"##$%&#' TOTAL GWh PRODUCED !"##(%#$' %( NAME: Ohau B NAME: Mokihinui NO. OF GENERATORS: & STAGE: Environment Court appeal CAPACITY: "!"MW CAPACITY: (#MW NAME: Tekapo A TOTAL GWh PRODUCED '&( !"##$%&#' NO. OF GENERATORS: ! ii TOTAL GWh PRODUCED iii CAPACITY: !"##(%#$' (%& "#MW Brooklyn TOTAL GWh PRODUCED !"##$%&#' !#" TOTAL GWh PRODUCED Wellington !"##(%#$' !"& NAME: Ohau C NO. OF GENERATORS: & CAPACITY: "!"MW NAME: Hurunui Wind TOTAL GWh PRODUCED STAGE: Consultation NAME: Tekapo B !"##$%&#' '&$ CAPACITY: *(MW NO. OF GENERATORS: " TOTAL GWh PRODUCED ("( !"##(%#$' Christchurch CAPACITY: !)$MW TOTAL GWh PRODUCED !"##$%&#' (!* TOTAL GWh PRODUCED (%% NAME: Benmore !"##(%#$' Twizel NAME: Hunter Downs Irrigation NO. -
Clean Energy Australia 2019
CLEAN ENERGY AUSTRALIA CLEAN ENERGY AUSTRALIA REPORT 2019 AUSTRALIA CLEAN ENERGY REPORT 2019 We put more energy into your future At Equip, we’re fairly and squarely focused on generating the best possible returns to power the financial future of our members. With more than 85 years in the business of reliably delivering superannuation to employees in the energy sector, it makes sense to nominate Equip as the default fund for your workplace. Equip Super fair and square Call Tyson Adams Ph: 03 9248 5940 Mob: 0488 988 256 or email: [email protected] This is general information only. It does not take into account your personal objectives, financial situation or needs and should therefore not be taken as personal advice.Equipsuper Pty Ltd ABN 64 006 964 049, AFSL 246383 is the Trustee of the Equipsuper Superannuation Fund ABN 33 813 823 017. Before making a decision to invest in the Equipsuper Superannuation Fund, you should read the appropriate Equip Product Disclosure Statement (PDS). Past performance is not a reliable indicator of future performance. Equipsuper Financial Planning Pty Ltd (ABN 84 124 491 078, AFSL 455010) is licensed to provide financial planning services to retail and wholesale clients. Equipsuper Financial Planning Pty Ltd is owned on behalf of Equipsuper Pty Ltd. CONTENTS 4 Introduction 6 2018 snapshot 12 Jobs and investment in renewable energy by state 15 Project tracker 16 Policy void risks momentum built by Renewable Energy Target 18 Industry outlook: small-scale renewable energy 19 Industry outlook: large-scale -
Westwind Energy Pty Ltd GOLDEN PLAINS WIND FARM
GOLDEN PLAINS WIND FARM ENVIRONMENT EFFECTS STATEMENT EXPERT EVIDENCE OF BRETT LANE WestWind Energy Pty Ltd Suite 5, 61–63 Camberwell Road, Hawthorn VIC 3123 P.O. Box 337, Camberwell VIC 3124 Ph. (03) 9815 2111 Fax. (03) 9815 2685 20th July 2018 Report No.16064 (7.4) Golden Plains Wind Farm – Biodiversity Assessment Report No. 16064 (7.4) CONTENTS 1. WITNESS DETAILS ............................................................................................................ 1 1.1. Name and address .................................................................................................. 1 1.2. Area of expertise ...................................................................................................... 1 2. SCOPE ............................................................................................................................... 2 2.1. Relevant survey guidelines ...................................................................................... 2 2.2. Investigations undertaken for the EES ................................................................... 3 2.3. Additional Investigations and Discussions ............................................................. 6 2.4. Environment Effects Statement .............................................................................. 7 2.5. Results of Additional Investigations and Discussions ........................................... 7 3. RESPONSE TO SUBMISSIONS ......................................................................................... 9 3.1. DELWP -
National Australia Bank Green Bonds Dnv Gl Annual
NATIONAL AUSTRALIA BANK GREEN BONDS DNV GL ANNUAL PROGRAMMATIC ASSURANCE STATEMENT Scope and objectives National Australia Bank Limited (“NAB” or “Issuer”) has issued multiple Green Bond issuances against its pool of eligible projects and assets. From 2018 NAB has elected to conduct its Certified Green Bond Issuance in a Programmatic format as facilitated by the Climate Bonds Standard (“CBS”) v2.1. NAB senior unsecured Green Bonds that have been issued and are outstanding at the time of verification include: • NAB Climate Bond AUD 300m ISIN: AU3CB0226090 • NAB GMTN Climate Bond EUR 500m ISIN: XS1575474371 • NAB SDG Green Bond USD 750m ISIN: US63254ABA51 • NAB SDG Green Bond EUR 750m ISIN: XS1872032369 In addition, NAB related entities have issued: • NAB RMBS 2018-1 – Green Tranche A1-G (AUD 300m) ISIN: AU3FN0040622 • NAB Low Carbon Shared Portfolio Issuance AUD 200m ISIN: AU3FN0042826 (together with the NAB Green Bonds, the “Bonds”) NAB has used the proceeds of the Bonds to finance (or re-finance) the nominated projects and assets falling under the following categories: • Low Carbon Buildings – Commercial • Low Carbon Buildings - Residential • Low Carbon Transport • Marine Renewables • Solar Energy • Wind Energy NAB has issued four senior unsecured Green Bonds with a total issuance value of AUD 3,354,622,5241. The pool of eligible projects and assets as at 28 September 2018 was AUD 3,846,710,912 resulting in a surplus of eligible projects and assets of AUD 492,088,387. NAB related entities have also issued two secured green transactions with a total issuance value of AUD 500,000,000, which are supported by separate pools of eligible projects and assets, the details of which are set out in Schedules 2 and 3.