DOCSLIB.ORG

[email protected] Te Uku Wind Farm

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Ray.Brown@Meridianenergy.Co.Nz Te Uku Wind Farm 21, rue d’Artois, F-75008 PARIS C1-108 CIGRE 2012 http : //www.cigre.org Te Uku Wind Farm – Planning and Operation of a Deeply Embedded Power Plant with Advanced Ancillary Services RAY W BROWN HAYDEN N SCOTT-DYE Meridian Energy Ltd Meridian Energy Ltd New Zealand New Zealand SUMMARY Meridian completed commissioning of the 64.4 MW Te Uku Wind Power Plant (WPP) in 2011. The WPP is embedded within a rural 33 kV distribution network and located approximately 25 km from the 220 kV Grid Exit Point (GXP). Before the WPP was developed, the 220 kV GXP voltage could move out of Grid Code requirements during transmission outages. Planning studies have shown that the WPP is able to reliably control voltage levels across the 33 kV distribution network and maintain the 220 kV GXP 220 kV voltage within Grid Code requirements during contingencies. The WPP is the largest deeply embedded wind farm in New Zealand. Integrating it with the 33 kV distribution network provided a number of challenges and these are discussed. New Zealand does not have subsidies for renewable energy power plants. It has a lightly regulated competitive electricity market with relatively low electricity prices. Environmental approvals allowed for a larger wind farm however the optimal commercial development of the WPP was required in order for its owner to achieve adequate returns in the electricity market. Various technical performance requirements were also placed on the WPP. Transmission integration options to address economic and technical requirements are discussed in the paper. The methodology and simulation studies performed to arrive at the optimal solution are described. The WPP uses full converter output wind turbine generators. The converters provide isolation between the power system and the turbine generator resulting in exceptional grid integration performance. The WPP can provide voltage support even when there is no wind, and modelling has shown that this can solve Grid Code non-compliant 220 kV voltage issues. The WPP is therefore able to provide voltage support ancillary services similar to a STATCON or a synchronous generator operating in synchronous condenser mode. New Zealand is an island system that has high penetration of renewables with over 70% of electricity supply coming from renewable sources. NZ’s energy strategy is to generate 90% of [email protected] NZ’s electricity from renewable energy by 2025. It is conceivable that within ten years, North Island wind generation levels may exceed 50% of North Island load during light load periods. As wind penetration grows, wind power plants will need to provide ancillary services that have traditionally been provided from other sources. Frequency related services have historically been provided from grid connected plant. The Te Uku WPP has governor systems and the performance and integration of these will be discussed. Instantaneous reserve performance from the wind farm in particular appears to be superior to conventional plant. The use of the wind farm to provide frequency support ancillary services is explored in the paper. In summary, this paper provides an overview of the electrical and grid integration design of Te Uku WPP, and also explores the ability of the WPP to provide ancillary services. Practical examples from simulations and commissioning tests are also shown. KEYWORDS Ancillary-Services, DER, Renewable-Energy-Resources, Wind-Power, Optimisation, Frequency- Response [email protected] 1 THE NEW ZEALAND POWER SYSTEM AND ANCILLARY SERVICES The NZ power system consists of two island power systems (the North Island and the South Island) connected by an HVDC (High Voltage Direct Current) link. The North Island’s electricity is supplied by many fuel sources, and approximately 1500 GWh p.a. is transferred north over the HVDC link during years when water is plentiful in the South Island. The South Island’s electricity generation is 100% renewable, coming from hydro generation and small WPPs (Wind Power Plants). Demand Demand Peak Generation Wind Capacity Capacity North Island 24,400 GWh 4,500 MW 5,652 MW 428 MW South Island 14,600 GWh 2,300 MW 3,408 MW 58 MW Total NZ 39,000 GWh 6,500 MW 9,060 MW 486 MW Table 1 - NZ Load and Generation 2009/2010 [1] Due to the low amounts of load and generation, the frequency can change quickly when generation or the HVDC link trips. The frequency range in the North Island is 47 Hz to 52 Hz. NZ’s wind energy resource is extensive because the country lies across the “Roaring 40s”. NZ WPPs generally operate at an average of 42% of maximum capacity, making them commercially competitive with other forms of electricity generation in NZ without subsidies. Wind energy is in its infancy in NZ with annual energy penetration having reached only approximately 4 %. With a NZ light load of approximately 3000 MW in summer, wind generation can reach levels up to approximately 20 % during brief periods in summer. The governments’ energy strategic goals have been to generate 90 % of NZ’s electricity from renewable energy by 2025. In 2010 the government introduced an Emissions Trading Scheme that will favour renewables over greenhouse gas-emitting power stations over time [2]. It is foreseeable that within 10 years, North Island wind generation levels may exceed 50 % of North Island load during light load, high wind periods. It is anticipated that during these periods some WPPs that are unable to provide ancillary services such as frequency and voltage support will not be dispatched and conventional gas, hydro or coal plants that are able to provide ancillary services will be dispatched instead. The revenue for owners of these undispatched WPPs will be reduced as wind penetration grows. In order to enable high wind penetration, WPPs will need to provide instantaneous reserves (IR) and frequency keeping services. IR and frequency keeping services earn revenue in the ancillary services market [3]. Governors have been installed in recent NZ WPPs [4] to enable them to provide IR and frequency keeping services. When it becomes economically optimal to use WPPs for frequency support services, market rules and mechanisms will be developed to enable WPPs to offer these services into the ancillary service market. The structure of the electricity market is a point of difference between NZ and many jurisdictions. NZ has full nodal pricing, security-constrained economic dispatch. There is a reserves market and commercial arrangements for ancillary services such as voltage support. 3 This paper provides an overview of the electrical and grid integration design of Te Uku WPP, a deeply embedded wind farm that has been designed to provide both voltage and frequency ancillary services to the transmission grid. 2 EXISTING TRANSMISSION SYSTEM DESCRIPTION The Te Uku WPP site is located approximately 20 km west of Hamilton in the North Island of New Zealand between the Raglan and Aotea Harbours. The WPP Te Uku covers an area close to 56 km 2 The Distribution Network Operator (DNO) in the region, obtained planning permits for up to 28 Wind Turbine Generators (WTGs) on the generation site which could have a capacity up to 3 MW each, providing for a potential wind farm capacity up to 84 MW. The site wind resource is Class IIB with a high average wind speed of 8.24 m/s at hub height. This provided potential for a generation capacity factor in the order of 40 %. Figure 1 – Te Uku Geographical Overview The centre of the site is approximately 20 km from the Te Kowhai 220 kV / 33 kV substation that supplies a large proportion of Waikato’s West Hamilton region through a single circuit 33 kV line which extended as far as the town of Raglan. The Te Kowhai offtake has generally averaged around 20 MW however it has peaked up to 90 MW during times of low existing embedded generation output (Te Rapa cogeneration) and the switching of load from other parts of the Hamilton distribution network. The nearest 33 kV line was approximately 8 km from the centre of the site and this single circuit line was the primary supply to Raglan. The Te Kowhai substation has two 100 MVA 220 kV / 33 kV transformers. It is connected to one circuit of the 220 kV double circuit Stratford – Taumarunui – Huntly line (see figure 2). This is a long line that has capacitance charging issues when the connection to Huntly is lost. In this case the 220 kV voltage at Te Kowhai can rise to approximately 1.125 pu, outside of Grid Code requirements, particularly when the offtake at Te Kowhai is light. The challenge presented to Meridian and the DNO was to complete an optimised design for the site that could be commercialised. After much detailed analysis, 28 WTGs with 2.3 MW generators and 101 m diameter turbines and a 33 kV transmission solution was adopted. This provides an estimated output of 248 GWh p.a. from the wind farm’s 64.4 MW capacity operating at a capacity factor of 43.9 % 3 PERFORMANCE REQUIREMENTS The initial phase of the transmission solution design process required the establishment of appropriate power quality standards for a large embedded wind farm. This required interpretation of the Grid Codes applicable for the development, and negotiation of standards with the DNO and the Transmission System Operator (TSO). 4 Key Te Uku Figure 2 – Waikato Transmission Network Overview The DNO was most interested in the power quality experienced by customers distributed around its network. The DNO’s requirements were power quality performance based. The TSO was more prescriptive with its targets requiring fault ride through and adequate power system response following specific transmission faults. At the time of design, New Zealand did not have generation fault ride through code requirements.
Load more

Recommended publications
  • 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.
    [Show full text]
  • Wind Farm Update April 2008.Pdf
    April 2008 W NNDDFAARMRM ByUUPDATE Dr Julian Elder PDATE he decision on WEL Networks’ proposed wind farm at Te Uku is expected to be Tannounced by the Waikato District Council in the near future. Like you, we keenly await the outcome. I’m sending you this UPDATE to provide important background information as part of WEL’s commitment to on-going consultation with the greater Raglan community. The UPDATE forms no part of the resource consent process. The business case for the wind farm is strong and financially sound. Otherwise, we would not be risking an investment of $200 million, particularly when we are owned by the community. The Te Uku wind farm project will only go ahead if it is profitable. But we do acknowledge that there are residents with mixed feelings about the wind farm, and those who oppose it. The proposed wind farm is among the smaller of the wind farms either in operation or planned elsewhere in New Zealand. The generation of power to meet the growing demands of consumers and industry always presents a dilemma. New Zealanders are demanding renewable energy resources, yet at the same time they are demanding more supply. In the Waikato region, 55 percent more power will be needed in the next 10 years to meet the growth of both residential and business consumers. NO TO NUCLEAR POWER Coal fired power stations are being rejected and no-one supports nuclear power. Other ways to deliver power, such as bio mass, tidal and solar, are not currently realistic in commercial terms. Wind, as an energy resource, continues globally as the most widely accepted form of renewable and sustainable generation.
    [Show full text]
  • Kaimai Wind Farm Tourism and Recreation Impact Assessment
    Kaimai Wind Farm Tourism and Recreation Impact Assessment REPORT TO VENTUS ENERGY LTD MAY 2018 Document Register Version Report date V 1 Final draft 31 August 2017 V2 GS comments 10 Oct 2017 V3 Visual assessment, cycle route 30 Nov 2017 V4 Updated visual assessment 16 February 2018 V5 Turbine update 30 May 2018 Acknowledgements This report has been prepared by TRC Tourism Ltd. Disclaimer Any representation, statement, opinion or advice, expressed or implied in this document is made in good faith but on the basis that TRC Tourism is not liable to any person for any damage or loss whatsoever which has occurred or may occur in relation to that person taking or not taking action in respect of any representation, statement or advice referred to in this document. K AIMAI WIND FARM TOURISM AND RECREATION IMPACT ASSESSMENT 2 Contents Contents ................................................................................................................. 3 1 Introduction and Background ........................................................................... 4 2 Existing Recreation and Tourism Setting ........................................................... 5 3 Assessment of Potential Effects ...................................................................... 12 4 Recommendations and Mitigation .................................................................. 18 5 Conclusion ...................................................................................................... 20 K AIMAI WIND FARM TOURISM AND RECREATION IMPACT ASSESSMENT
    [Show full text]
  • Te Uku Wind Farm, Near Raglan, Are Finding Out
    new zealand wind energy association ›› www.windenergy.org.nz Wind Energy Case Study Business and community opportunities There is more to wind energy than wind turbines and renewable energy. A new wind farm can become a catalyst for business and community renewal, as the people involved with Te Uku wind farm, near Raglan, are finding out. Earthworks at Te Uku wind farm Out towards Raglan, Meridian Energy is developing a new wind “I was just a one-man band but I had to employ staff and learn all farm at Te Uku. This high and windy site has become an important about how to do that. It was a real eye opener but I had lots of help community asset. The wind farm has added a new, positive dynamic from the managers of the construction firms Hick Bros and Spartan to this isolated farming site. Construction,” says Jim. It was a very wet winter, which did not help, but Jim is proud of Business opportunities his contribution. “We all need power at the end of the day.” An important aspect of the construction and ongoing management Local Hamilton firm Spartan Construction together with Hick of the wind farm was that the existing farm operations had to Bros from Silverdale formed Hick Spartan Joint Venture and continue with little or no disruption. That meant that stock and won the contract to supply infrastructure roading, foundations pasture had to be managed along with heavy construction, quarrying and erosion and sediment control at Te Uku. They won the and new roading. Jim Munns, a local fencer played an integral role.
    [Show full text]
  • New Zealand Journal of Environmental Law
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Research Commons@Waikato 179 Protection of Threatened Species in New Zealand Pip Wallace* and Shaun Fluker† The need to protect threatened species and facilitate their recovery to viable population levels enjoys widespread international support, but it is the domestic legal rules of individual nations that will implement international calls for protection and recovery. New Zealand purports to protect threatened species primarily with the Wildlife Act 1953, a statute whose purpose is more concerned with wildlife management than implementing a legal framework to protect threatened species. The consensus is that the Wildlife Act 1953 and other applicable legislation such as the Resource Management Act 1991 is not up to the task of protection and recovery of threatened species in New Zealand. In this article we explore how dedicated threatened species legislation in New Zealand might improve on the existing legal framework, and in particular with respect to the designation and planning on threatened species, recovery programmes and habitat protection. For an illustration of how these components may contribute to the threatened species problem we look to Canada as a nation which enacted dedicated threatened species legislation in 2002. The story thus far in Canada suggests legal rules are not a panacea for species decline, but nonetheless dedicated legislation can offer substantial benefits such as transparency and a systematic approach to species planning, better integration with resource development, and a measure of accountability in law to hold public officials to their promises on threatened species protection.
    [Show full text]
  • 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.
    [Show full text]
  • Meridian Energy to Partner with AGL in Developing Southern
    Meridian Energy to partner with AGL in developing Southern Hemisphere’s largest wind farm For immediate release: New Zealand's largest renewable electricity generator, Meridian, and Australia's largest renewable electricity generator AGL today announced the establishment of a joint venture to build what will be the southern hemisphere's biggest wind farm. The project is the 420 MW Macarthur wind farm in southwest Victoria. The final build cost will be around A$1 billion and is due for completion in 2013. Meridian’s 50 percent investment share in the project will be made through a combination of equity and project finance which will be sourced by the joint venture partners. Meridian chief executive Tim Lusk said today the investment was consistent with Meridian’s Australian wind investment strategy, which earlier this year saw the company acquire the 70 MW Mt Millar wind farm in South Australia. “The Macarthur project is a great opportunity to facilitate our growth ambitions in Australia. The project offers long term, reliable generation revenues which will complement the rest of Meridian’s developing Australian wind portfolio. The electricity purchase contracts have been structured in a way that the joint venture does not take market price or electricity production volume risk.” Mr Lusk said Macarthur cements a long term relationship between Meridian and AGL. “This joint venture between the largest renewable developers in New Zealand and Australia, each bringing complementary skill sets to the project, gives us great confidence that it will be delivered successfully. The good cultural fit evident between the parties creates ongoing opportunities for joint development.” As well as the Macarthur project and the Mt Millar wind farm, Meridian has a number of other high quality wind development sites in Australia.
    [Show full text]
  • Gwec | Global Wind Report
    GLOBAL WIND REPORT Annual market update 2010 Foreword 2010 was a tough year for our industry, and although We are still waiting for a resolution to the global debate on cumulative market growth was still a healthy 24.1 %, the climate change and we are still waiting for any signs of a annual market decreased for the first time in about two clear pathway towards a global price on carbon. If the pace decades. The medium term consequences of the financial of the international climate negotiations during 2010 is any crisis and the economic slowdown finally took their toll, indication, we are going to have to continue to wait for and very low orders in OECD countries at the end of 2008 some time. Hopes are higher for COP17 in Durban this year and the beginning of 2009 made themselves felt in the than they were for Cancun, but few observers expect final 2010 installation totals, particularly in the United States. resolutions to the fundamental unresolved issues. Having said that, 38.3 GW of new wind power capacity was We expect that by the time this report is printed global added around the world last year, and for the first time the installed capacity will have reached 200 GW. We estimate majority of that new capacity was in developing countries that this will double again within three to four years, and emerging economies; driven mainly by the booming keeping open the option to reach GWEC’s aspirational goal wind sectors in China and India, but also with strong of 1,000 GW of installed capacity by 2020.
    [Show full text]
  • Valuation Report 2010
    1 Meridian Energy EQUITY RESEARCH – New Zealand ANALYST FIRST NZ CAPITAL SECURITIES LIMITED IS A NZX FIRM Jason Lindsay +64 4 496 5338 [email protected] 29 October 2010 A valuation perspective PG 1 TABLE OF CONTENTS TABLE OF CONTENTS ....................................................................................................................................................... 2 EXECUTIVE SUMMARY...................................................................................................................................................... 3 Recent Performance .................................................................................................................................................................................3 Earnings Outlook ......................................................................................................................................................................................3 Base Case Valuation .................................................................................................................................................................................3 Key Assumptions.......................................................................................................................................................................................3 Sensitivity Analysis....................................................................................................................................................................................3
    [Show full text]
  • FINAL TEMPLATE.Indd
    2010/11 THE YEAR IN REVIEW ULTRA - FAST BROADBAND BID TE UKU WIND FARM WESTERN NETWORK UPGRADE RAGLAN ZONE SUBSTATION PHOTOVOLTAIC TRIAL HEALTHIER HOMES NEW NETWORK MANAGEMENT SYSTEM RESIDENTIAL WIND TURBINE TRIAL THE SWITCHIT DEVICE COBHAM DRIVE ZONE SUBSTATION SMART METERS AND THE SMART GRID ENERGY MANAGEMENT AUDITS FOR SCHOOLS PAM ROA ASPIRING DIRECTOR AWARD RECIPIENT FOR 2011 16 17 ULTRA-FAST BROADBAND BID Hamilton Cambridge Te Awamutu Tauranga Tokoroa New Plymouth Hawera Wanganui On the 7th of December 2010 the Minister of The WEL consortium was made up of WEL Networks Telecommunications, Steven Joyce, announced that the Limited, Waipa Networks Limited and the Hamilton Fibre WEL Networks consortium was the successful bidder Network (HFN). HFN is owned by the Hamilton City Council, for the $300 million contract to provide an ultra-fast Environment Waikato, Waikato Institute of Technology broadband network to the Waikato, Bay of Plenty and (Wintec), the University of Waikato and Velocity Networks. Taranaki regions. This new business venture has resulted in WEL forming This contract represents a tremendous achievement for two new companies: WEL and the other consortium partners. It is expected that at the completion of the project WEL’s asset base will be • Ultrafast Fibre Limited (UFL) – a wholly double the current value. owned subsidiary of WEL Networks Limited, this company will undertake the construction of the The contract covers the main urban areas of; Hamilton, fibre network. Cambridge, Te Awamutu, Tauranga, Tokoroa, New Plymouth, Wanganui and Hawera with a population of The WEL Directors are all Directors of UFL. over 430,000 potentially being able to access ultra-fast broadband.
    [Show full text]
  • Meridian Energy Limited Group – Condensed Interim Financial Statements Income Statement for the Six Months Ended 31 December 2010
    Meridian Interim Report For the period to 31 December 2010 Overview Performance Summary Notes Meridian Group 6 MONTHS 6 MONTHS YEAR ENDED ENDED PERIOD ENDED 1 Net profit/(loss) after tax includes unrealised Performance in Brief 31 DEC 2010 31 DEC 2009 CHANGE 30 JUN 2010 gains/(losses) on financial instruments. 2 Underlying net profit/(loss) after tax excludes Net Profit/(Loss) After Tax $m1 84.7 142.5 (57.8) 184.0 unrealised fair value movements and other one-off items. Underlying Net Profit/(Loss) After Tax $m2 123.4 118.7 4.7 251.9 3 EBITDAF – earnings before interest, taxation, EBITDAF $m3 353.3 297.4 55.9 641.7 depreciation, amortisation and financial instruments. EBITDAF $ per MWh4 51.9 43.4 8.5 46.3 4 EBITDAF per megawatt hour (MWh) generated by our New Zealand hydro power stations and wind farms. EBITDAF EBITDAF Increase Injury Rates Reduced $353.3m 19% 47% Earnings before interest, taxation, depreciation, amortisation 19% increase compared with the same Lost-time frequency rate has improved and financial instruments period last year by 47% to 1.8 since December 2009 Retail Development Total Retail ICPs North Island ICPs Powershop ICPs Te Uku 262,923 13% 48% wind farm Customer installation control points (ICPs) Increase in North Island ICPs Growth of Powershop ICPs since Started to generate power in November 2010 since June 2010 June 2010 – now 24,024 customers – full commissioning expected ahead of plan Plant Capacity and Generation Total GWh* Generated Total GWh Generated Total GWh Generated Total Plant Capacity (MW) 6 Months Ended Dec 2010 6 Months Ended Dec 2009 Annual 2010 New Zealand 2,756 6,804 6,854 13,862 International 75 90 – 12 * Gigawatt hours 6,331 558 5 hydro wind solar Hydro GWh generation Wind GWh generation Solar GWh generation Contents Message from the Chairman and Chief Executive 2 Highlights 4 Performance Summary 8 Condensed Interim Financial Statements 16 Review Report from the Auditor-General 35 Directory 36 Benmore Hydro Dam, Waitaki Valley – the Benmore Refurbishment Programme is on track for completion in early 2011.
    [Show full text]
  • Meridian Energy Has Announced a Net Profit of $184.0 Million for the Year Ended June 2010
    Meridian reports 29 per cent improvement in underlying earnings For immediate release: Tuesday 24 August 2010 Meridian Energy has announced a net profit of $184.0 million for the year ended June 2010. Underlying profit for the year was $251.9 million, compared with last year’s $195.0 million. Meridian will pay a final dividend of $68.5 million, following an interim dividend of $ 89.6 million paid in April. Today Chief Executive Tim Lusk described the result as an outstanding performance, with record earnings before interest, tax, depreciation, amortisation and fair value movements (EBITDAF) of $641.7 million. The result was achieved despite flat electricity demand with good lake storage and inflows and the doubling of our wind generation capacity. “We also experienced an improvement in retail performance which was achieved, despite a price freeze, by enhanced coordination of our wholesale and retail businesses and refining our customer mix, including increasing our North Island customer base by 17 per cent,” said Mr Lusk. “We are also delighted at the impact of online retail subsidiary Powershop. This new channel has transformed the retail electricity market and was the fastest growing electricity retailer this year, offering unprecedented choice for electricity consumers.” Mr Lusk said other highlights for the year were the commissioning of the 62-turbine West Wind wind farm, near Wellington, which doubled Meridian’s wind generation to seven per cent of the company’s generation volumes. Meridian’s progress on the 28-turbine Te Uku wind farm near Raglan was also highlighted, with the wind farm due to start generating electricity in December.
    [Show full text]