Windflow Technology Achieves 60 Turbine Target

NZX and MEDIA STATEMENT

Wednesday 9 April 2008

Windflow Technology Achieves 60 Turbine Target

Windflow Technology has received confirmation of an order for a further 16 Windflow 500 turbines from the Te Rere Hau Wind Farm Joint Venture (between NZ Windfarms Limited, NP Power Pty Limited and Babcock & Brown Windpower Pty Limited).

The order represents Batch 3B in the development plan for the Te Rere Hau wind farm, bringing the total number of Windflow 500 turbines ordered by the Joint Venture to 65. 60 of these will be produced this year at Windflow’s new assembly facilities in Christchurch, achieving Windflow’s initial production target, although production capacity is capable of increasing to 200 turbines per year. Five of the Windflow 500 wind turbines were installed as Stage 1 of the Te Rere Hau wind farm in September 2006.

This latest order from the Joint Venture is worth in excess of $12 million in revenue to Windflow Technology. The Te Rere Hau wind farm has resource consent for 97 wind turbines (48.5 MW) and is due to be completed by the middle of 2009.

The Windflow 500 turbine is designed by a team of professional engineers led by Windflow Technology director and CEO Geoff Henderson. It includes patented, world-first technology that brings competitive advantages and cost efficiency in comparison to other models of wind turbine available. Windflow Technology Limited is making good progress with its work to certify the turbine to International Electrotechnical Committee (IEC) standard WT-01.

More than 90% of the components of the Windflow 500 turbines are sourced from New Zealand owned and operated manufacturing companies and provide significant work for New Zealanders throughout the country.

ENDS

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