New Zealand Gazette – 1995 – No. 108

Page 3461

✨ Financial Notes

29 SEPTEMBER NEW ZEALAND GAZETTE 3461

Wairarapa Electricity Limited and Subsidiary Companies

Notes to the Accounts (continued)

19. Wind Generation Project

Wairarapa Electricity Limited are currently engaged in feasibility studies in respect of wind generation projects in the Wairarapa region. The directors are committed to continuing with the feasibility studies.

Capitalised expenditure as at 31 March was as follows:

	Consolidated	Parent	Line business	Energy and other business
	1995	1995	1995	1995
	$000	$000s	$000s	$000s
Land and buildings	1,417	-	-	1,417
Interest	157	-	-	157
Feasibility studies	56	-	-	56
Total expenditure capitalised	1,630	-	-	1,630

Government valuation of project land and buildings: 830

Resource consents have been received in relation to a wind generation site. The outcome of this event is not certain.

In the event that the wind generation projects are terminated, capitalised expenditure amounting to $213,000 (1994: $27,000) would be required to be written off in the Consolidated Income and Appropriation Statement. Upon termination, land and buildings would be revalued to net current value and any change in value would be recognised in the financial statements.

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VUW Te Waharoa — NZ Gazette 1995, No 108

NZLII — NZ Gazette 1995, No 108

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💰 Notes to the Accounts of Wairarapa Electricity Limited and Subsidiary Companies (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Instruments, Borrowings, Investments, Fair Value, Feasibility Study, Wind Generation, Capitalised Expenditure, Resource Consents, Wairarapa Electricity

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