Type Public Industry Energy Services Electricity Headquarters Tauranga, New Zealand Parent organization Infratil | Traded as NZX: TPW Founded 1993 Net income NZD$89.8m Revenue 933.8 million NZD | |
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Stock price TPW (NZE) NZ$ 4.49 -0.04 (-0.88%)24 Mar, 5:00 PM GMT+13 - Disclaimer Subsidiaries Energy Direct, Tararua Wind Power Ltd. Profiles | ||
Trustpower Limited is a New Zealand electricity generation and electricity retailing company, listed on the New Zealand stock exchange.
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Trustpower is New Zealand's fifth largest electricity generator (in terms of MW capacity, GWh output and revenue) and the fourth largest electricity retailer (in customer numbers), serving 277,000 customers throughout New Zealand. The company owns and operates 34 power stations. It generates the majority of its electricity using renewable energy sources, primarily hydro-electric but also wind farms.
The company's ownership structure is dominated by its two major shareholders: Infratil which owns 50.5% and the Tauranga Energy Consumer Trust (TECT) which owns 26.8%. The company's remaining shares are owned by 12,000 small parcel shareholders and there are also 12,000 bond holders.
In 2013 it bought Energy Direct, a Wanganui electricity and gas company.
In 2015, it bought 65% of King Country Energy Ltd from Nova Energy. King Country Energy generates all of its electricity from renewable sources (principally hydro-electric generation) and supplies electricity to the Waitomo, King Country and Ruapehu Districts. King Country Energy was incorporated in 1991.
Trustpower
Developments
Trustpower's current development projects in New Zealand include the Awhitu Wind Farm near Waiuku, the Wairau Hydro Scheme near Blenheim and the Kaiwera Downs Wind Farm in Southland.
On 2 November 2008, Trustpower opened Stage 1 of the Snowtown Wind Farm, its first wind farm in Australia. The wind farm is near the township of Snowtown, 170 km north of Adelaide, and will generate 370-380 GWh pa with 47 wind turbines. Project cost is $220 million. The project was completed in November 2014.
The Myponga Wind Farm was a $120m project of 16 wind turbines, to be located near Sellicks Hill on the southern outskirts of Adelaide. Trustpower abandoned this project in 2009.
In 2016, resource consent applications were lodged for the Waverley Wind Farm.