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.
14 May 2018
Results at a glance (FY2018 compared to FY2017)
• Net profit after tax of $129 million, up $35 million or 38% • Operating earnings (EBITDAF) from continuing activities of $243 million, up $57 million or 30% • Operating earnings (EBITDAF) from all activities of $267 million • Retail earnings (EBITDAF) of...
29 Mar 2018
Trustpower Limited (Trustpower) and King Country Electric Power Trust (KCEPT), today assumed full control of King Country Energy Limited (KCE).
This is the outcome of a joint venture (JV) takeover made by a wholly-owned subsidiary of Trustpower and KCEPT, initiated in December 2017, that sought to acquire the balance of KCE’s...
29 Mar 2018
As announced to the market on 22 December 2017, Trustpower has sold its Australian hydro generation assets, which includes the Hume, Burrinjuck and Keepit hydro generation assets owned by GSP Energy Pty Ltd. The sale was on a conditional basis to Meridian Energy Australia Pty Limited a subsidiary of Meridian...
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