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.
7 Dec 2017
King Country Energy Holdings Limited ("KCEHL"), a wholly-owned subsidiary of Trustpower Limited, currently holds approximately 65.07% of the ordinary shares of King Country Energy Limited ("KCE"). KCEHL has entered into an implementation agreement (the "Implementation Agreement") with the trustees of the King Country Electric Power Trust ("KCEPT"), the holder of...
5 Dec 2017
The Electricity Authority (EA) has today released a consultation document that lists the distributed generation in the Lower South Island that is eligible to receive Avoided Cost of Transmission (ACoT) payments under the revised regime. Trustpower is yet to complete a detailed review of the paper, however our initial review...
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...
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