3 May 2011

Revenue at NZ Windfarms down

6:06 am on 3 May 2011

New Zealand Windfarms says revenue fell by half to $749,000 in the three months to March, due to a lack of wind and low wholesale prices.

Average electricity prices dropped 57% to $33 dollars per megawatt hour.

The company says sales have also been affected by a construction delay, meaning fewer turbines are in operation.

For the nine months to the end of March, revenue has fallen 25% to $2.4 million.