A rise in half year profit is reported by New Zealand Windfarms.
The company has posted a profit of $2.6 million in the six months to December - up from $1.3 million in the same period the previous year.
Chairman Derek Walker says the biggest event of the year was an agreement to purchase the remaining 50% of the Te Rere Hau windfarm, near Palmerston North.
It has agreed a $20 million deal with a unit of the Australian investment firm Babcock & Brown, which is selling assets to reduce its debt.
The windfarm currently has 11 turbines in operation, with another 24 due to be opernational by early next year
