23 Aug 2011

Negotiations over operating contracts at windfarms

6:51 am on 23 August 2011

Windflow Technology is negotiating with New Zealand Windfarms over operating and maintenance contracts after finishing building 97 turbines at the Te Rere Hau wind farm.

The compant, based in Christchurch, has already sold its surplus stock to NZ Windfarms, which has helped its financial position.

The company has set up a subsidiary operating and maintenance arm and granted NZ Windfarms the option to take it over if Windflow becomes insolvent.

In May, Windflow Technology warned about a lack of orders and said it would axe jobs, sell spare parts, and consider licensing its intellectual property for its turbines overseas to cope.