Te Rere Hau Wind Farm Construction Update

STATEMENT

NZ Windfarms Limited

April 29 2008

Te Rere Hau Wind Farm Construction Update

Construction is now progressing well on the Te Rere Hau Wind Farm project. The project is being undertaken by a joint venture, in which NZ Windfarms Limited is a 50 percent partner.

The present status of construction works is:

• 17 of the 28 Stage 2 foundations have been poured ready for the arrival of towers for the turbines

• 6 turbine nacelles have been completed and are being stored at Windflow Technology’s Christchurch factory

• Work is under way on installing the Stage 2 electrical reticulation within the wind farm and the connection line to the TrustPower substation from which Te Rere Hau’s output will be exported to the national grid

• Design has been completed for the site operations and maintenance building, which is now awaiting building consent

• All arterial roads for the wind farm have been cut and shaped, with the contractor now in the process of adding metal NZ Windfarms Chief Executive, Chris Freear, said progress on the site had been helped by very settled and dry weather over the summer months.

“The first turbine components to be transported to the site will be four tower sections, beginning May/June. Installation and commissioning of the Stage 2 turbines is scheduled to commence in the third quarter of this calendar year. We intend to keep the build programme moving by continuing into Stage 3 construction and installation as soon as the Stage 2 compliance checking is complete.”

The joint venture last month confirmed an order for a further 16 turbines from Windflow Technology, to be deployed in Stage 3 of the project. It has now ordered a total of 60 turbines for Stages 2 and 3. The Te Rere Hau project, which has resource consent for 97 turbines, is scheduled for completion in mid-2009. The joint venture partners are NZ Windfarms Limited (50 percent) and NPBB Pty Limited (50 percent). NPBB Pty Limited is owned by NP Power Pty Limited and Babcock & Brown Windpower Pty Limited. For further information go to www.nzwindfarms.co.nz

ENDS

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