06/28/2008
New Zealand - Mighty River buys stake in wind turbine maker
State-owned power generator Mighty River Power is to buy a cornerstone stake in Christchurch-based turbine maker Windflow Technology.
Windflow is listed on the stock exchange's alternative NZAX board, and the Mighty River deal to take an almost 20% stake requires shareholder approval.
The Christchurch company is building 50 turbines for a New Zealand Windfarms project. Mighty River hopes to use the company's turbines for its first windfarm proposed near Wellington.
Windflow Technology chief executive Geoff Henderson says the deal is a vote of confidence in the company.
Windflow is listed on the stock exchange's alternative NZAX board, and the Mighty River deal to take an almost 20% stake requires shareholder approval.
The Christchurch company is building 50 turbines for a New Zealand Windfarms project. Mighty River hopes to use the company's turbines for its first windfarm proposed near Wellington.
Windflow Technology chief executive Geoff Henderson says the deal is a vote of confidence in the company.
- Source:
- Mighty River Power
- Author:
- Posted by Trevor Sievert, Online Editorial Journalist
- Email:
- ts@windfair.net
- Link:
- www.windfair.net/...
- Keywords:
- wind energy, wind farm, renewable energy, wind power, wind turbine, rotorblade, offshore, onshore
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