with goal of becoming NZ's leading multi-utility retailer providing electricity, natural gas, bottled LNG and telecommunication services.
In New Zealand Trustpower owns and operates 22 hydro power stations with a total installed capacity of 516MW excluding King Country Energy generation assets. Trustpower, is headquartered in Tauranga, with approximately 750 full time equivalent employees operating a multi-product retail business, including electricity, gas and telecommunications services with approximately 280,000 electricity customer connections, 31,500 gas customer connections and 65,000 telecommunications customer connections.
From initially owning the 40MW Kaimai scheme near Tauranga, Trustpower grew through an active acquisition programme between 1999 and 2003. Trustpower successfully integrated these geographically diverse schemes into unified operational management regimes and systematic asset management programmes. Trustpower then actively invested in a renewable generation development programme which has brought the total owned hydro and wind generation to 630MW in New Zealand, as well as the 370MW Snowtown Wind Farm in South Australia.
On 18 December 2015 Trustpower announced that it was considering separating into two New Zealand incorporated listed companies, Tilt Renewables and New Trustpower via a Court approved scheme of arrangement. This proposal was approved by shareholders in September 2016 and following Court Approval the two entities listed on the NZX on 28 October 2016. Tilt holds Trustpower's Australian and New Zealand wind assets and is focused on the development, management and operation of wind farms in Australasia and grid connected solar in Australia.
6 Nov 2017
Trustpower is please to release its interim results for the six months ended 30 September 2017.
Results at a glance (HY2018 compared to HY2017)
• Net profit after tax of $82 million, up $37 million or 82% • Operating earnings (EBITDAF) of $159 million, up 44% • Retail earnings (EBITDAF) of $29 million, up...
13 Oct 2017
Trustpower expects its FY-18 EBITDAF to be in the range of $255 million to $270 million. This is an increase on its earlier guidance of $225 million to $245 million.
The increased forecast has been driven by the favourable trading conditions in the year to date as well as a recalibration...
11 Oct 2017
Trustpower announces that with effect 11 October 2017, Marko Bogoievski retires as a director and Steven Fitzgerald is appointed as a director.
Marko has been a director since February 2009. The Board thanks Marko for his commitment to Trustpower and the insight that he has brought. The Board expects to continue...
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