New Zealand

New Zealand

A kiwi wind turbine on the way

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New Zealand wind enthusiast Geoff Henderson and his partners in Windflow Technology can breathe a sigh of relief now the company's share offer has reached its minimum target of $NZ 2 million. The offer faltered two month's ago when a glitch in filing meant the initial fund raising had to be halted while the offer was re-posted.

Henderson is looking to develop a locally designed wind turbine using technology he has patented and which he sees as appropriate for New Zealand's often extreme winds. His aim with the share offering is to hit close to $3 million and is asking for permission to extend the offer's deadline.

The offering has come at a time when New Zealand is suffering from threatened brownouts due to drought reducing hydro generation. Energy minister Pete Hodgson has been making appeals on national television for New Zealanders to cut electricity usage by 10% or suffer the consequences.

"Public support for our proposal has been overwhelming as people pay more for electricity, recognise how vulnerable our hydro resource is with two serious shortages in less than a decade and express concern at the climate change impacts of gas powered generation," says Windflow's Neil Cherry.

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