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Quartz Hill Reserve Charitable Trust Appeals Wind Farm Ruling
January 31, 2006 in Scoop Independent News
January 31, 2006 in Scoop Independent News
Hugh Barr, spokesman for the Quartz Hill Reserve Charitable Trust, announced today that the Trust has appealed the decision of the Commissioners of the Wellington City and Regional Councils, on Meridian Energy’s 70 turbine “West Wind” windfarm at Makara.
Babcock & Brown is unlikely to sell any of its wind farms before October or November as it seeks to avoid a fire sale of assets.
The company remains under pressure to reduce its $3.6 billion of corporate debt, but selling the wind assets is taking longer than expected because of complications in the sale process.
Any sale announcement is not expected before well into the last quarter of this year. ...B&B's stock dived 20 per cent over a two-day period last week as investors, wary about its immediate prospects, sold out.