Storm smashes turbine, share price

A storm not only smashed Windflow Technologies' prototype wind turbine at Banks Peninsula, but seriously damaged the stock's share price. The AX-listed stock yesterday fell 50c, or 17 per cent, to $2.50.

Its trouble-plagued Gebbies Pass turbine was badly damaged on Thursday night, with its blades and gearbox mauled by strong winds. The company said staff were adjusting controls on the machine during the fierce storm when a sudden change in wind direction ripped the gearbox and main rotor assembly from its mountings.

They hit the ground below the turbine.

"We are still assessing the damage to the machine, and are thankful that none of the staff on site were injured," chief executive Geoff Henderson said. Chairman Barrie Leay said once the assessment was completed, Windflow would refurbish the machine using parts manufactured for the Te Rere Hau wind farm, due to be built in the Manawatu.

"At the same time we will identify the root cause of the accident to make any necessary adjustments to the control and protection system. We will also be talking with our insurers."

He said the accident would delay the company's testing programme for international certification, due to begin next week.

The turbine has suffered noise problems in the past, but the company was confident those were behind it. Windflow last month announced plans to build the 104-turbine Te Rere Hau windfarm for $80 million in the Tararua Ranges with six turbines due to be built this year, then 20 to 30 in the following years.

It is planned to be fully commissioned by 2008.

Chris Freear, chief executive of NZ Windfarms, a Windflow subsidiary, said until the company got a resource consent at Te Rere, "There is no development in the Manawatu".

"At the moment the intention is to use Windflow machine ... because it has many inherent advantages. The analysis of what happened may alter that opinion, it may not," Freear said. He denied it was back to the drawing board for Windflow.

"If the wind conditions were outside the design envelope then the drawing board's fine ... It's certainly going to delay the timing."

- NZPA