Infratil and Mercury NZ had extended the deadline for their joint full takeover bid for Tilt Renewables.
There was a timely announcement this week by Tilt Renewables, which is under a full takeover bid, about the financing being in place for its new Victorian wind farm.
The Wairakai geothermal power station has just marked its sixtieth anniversary and is the world’s second oldest geothermal power station.
The September quarter is often not a good time for windfarms and this was reflected in the result for one listed operator.
Tilt Renewable’s independent directors are deepening the trenches to resist the full takeover bid by Infratil and Mercury NZ.
The West Coast is in need of new industry and there is good support for a proposed waste-to-energy plant.
The two major shareholders of Tilt Renewables who have mounted a full takeover bid yesterday informed the market they were extending the time for the quest.
Christchurch-based Windflow Technology is removing its listing from the junior board of the New Zealand Stock Exchange.
Genesis Energy will join Tilt Energy in developing the Waverley wind farm in Taranaki, a move some market observers would see as adding to Tilt’s defence against a full takeover by its two major shareholders.
Tilt Renewables, which is under an unwelcome full takeover bid from its two major shareholders, has made the point that it had an improved result in the September quarter.