Mercury NZ Ltd to Discuss Kaiwera Downs Wind Farm Conference Call Transcript
Thank you for standing by, and welcome to the Mercury announcement. (Operator Instructions)
I would now like to hand the conference over to Mr. Vince Hawksworth, Chief Executive. Please go ahead.
Thank you, Marie, and everybody. I'm joined by William Meek, our CFO. So this morning, we announced the decision to go ahead with Kaiwera Downs wind farm just south of Gore. We're going ahead with the first stage of the wind farm, which is a 43-megawatt build, 10 machines, about $115 million, excluding capitalized interest. So we see this as a sensible next step in terms of our growth towards being a major player in the decarbonization of New Zealand. It establishes the wind farm at Gore, Kaiwera Downs, and gives us the optionality on the further build that could take the wind farm up to 240 megawatts.
Look, we acknowledge that there is uncertainty in the marketplace, but we also think that if New Zealand doesn't start this construction phase, we won't reach net zero. And I think it's important
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