Windflow Technology hopes that a new overseas government policy will help it crack the UK market.The company announced it had received “unprecedented” interest from the UK market in the last few months, following the introduction of
Windflow Technology hopes that a new overseas government policy will help it crack the UK market.
The company announced it had received “unprecedented” interest from the UK market in the last few months, following the introduction of a UK government scheme to incentivise small scale renewable electricity generation in April.
UK wind projects in the 100-500 kW range using new turbines are now guaranteed payment for the electricity they generate for the next 20 years, at between 40-45NZc per kilowatt hour.
Projects in the 500-1500 kW and 1500-5000 kW ranges receive lower subsidy payments, at between NZ5-30c per kilowatt hour.
Windflow staff attended the All-Energy exhibition in Aberdeen in May to seek out potential UK partners and are in the process of finalising an agreement with an exclusive UK distributor.
Staff also attended the Royal Highland Show near Edinburgh last week to promote the Windflow 500 turbine, one of the few 500 kW turbines in production in the world.
Chief executive Geoff Henderson said that staff received a lot of interest from the farming community at the Edinburgh show.
“They can now see that the financial viability of wind farms on their property is greatly improved.”
Rubber-stamp all go
The Windflow 500 achieved a major milestone toward top-level certification last May and now only needs its tower design to be rubber-stamped before full certification is expected.
“The tower is, relatively speaking, a piece of dumb steel,” Mr Henderson said. “We don’t see that as any impediment stopping us getting into the overseas markets.”
Mr Henderson told shareholders last December that his long-term vision for Windflow is turbine sales in the US, South America and Australia.
Also today, Windflow announced that Chris Freear, former chief executive of subsidiary NZ Windfarms, would rejoin the company as new business development manager.
Windflow shares (NZAX:WTL) are trading at 86c, down from 90c following the mid-June announcement that joint venture partner Mighty River would not proceed to the construction stage of the Long Gully project near Wellington.
