Windfarms doubles sales

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NZ Windfarms (NZW) doubled its sales revenue and increased its electricity output for the three months ended June 30, although it fell short of forecasts because of low wind speed and low spot power prices.

NZW, which owns Te Rere Hau Wind Farm in Manawatu, earned $1 million from electricity sales between April 1 and June 30, and generated 18,607 megawatt hours of electricity, up 72 per cent on a year earlier.

For the year ended June 30, generation jumped nearly 300 per cent to 78,383MWh, and sales rose to $4.1 million from $800,000 a year earlier.