New Zealand Gazette – 1997 – No. 128

Page 3022

✨ Financial Statements Continuation

3022 NEW ZEALAND GAZETTE No. 128

TRANSALTA NEW ZEALAND LIMITED
NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS (continued)
AS AT 31 MARCH 1997

13 INTEREST IN JOINT VENTURE
The Company has a 46.5% interest in a landfill gas joint venture, whose principal activity is the generation of electricity from extraction of methane gases from the Silverstream landfill near Upper Hutt. The Financial Statements as at 31 March 1997 for the Joint Venture are unaudited.

The generation plant has an output of less than 10 megawatts and in compliance with the Electricity (Information Disclosure) Regulations 1994 is included within the Energy business of the Company.

LINE BUSINESS	31-Mar-97	31-Mar-96	ENERGY BUSINESS	31-Mar-97	31-Mar-96
	$000	$000		$000	$000
The Company’s interest in the joint venture is included in the consolidated accounts under the classifications shown below.
Fixed Assets	-	-	2,566	2,710
Current Assets	-	-	12	24
Current Liabilities	-	-	(13)	(5)
Net Investment	-	-	2,565	2,729

14 EVENTS OCCURRING AFTER BALANCE DATE
Subsequent to 31 March 1997 the Company has agreed to purchase the interests of TransAlta Energy Corporation in the Southdown generating station in Auckland, and the Taranaki Combined Cycle Station near Stratford. If the transactions proceed 25.2 million shares at an issue price of $1.75 per share will be issued to TransAlta Energy Corporation. This will increase TransAlta Energy Corporation’s interest in TransAlta New Zealand Limited from approximately 63% to approximately 66%. The above transactions are subject to shareholder and regulatory approval. The financial effect of these transactions has not been recognised in these Financial Statements.

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🌾 Financial Statements of TransAlta New Zealand Limited (continued from previous page)

Domain🌾 Primary Industries & Resources
KeywordsElectricity, Financial Statements, Joint Venture, Landfill Gas, Methane, Silverstream, Upper Hutt, Energy Business, Fixed Assets, Current Assets, Current Liabilities, Net Investment, Share Purchase, Southdown Generating Station, Taranaki Combined Cycle Station, Shareholder Approval, Regulatory Approval

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