About Macquarie

Select a country:
Australia	Indonesia	South Africa
Austria	Ireland	Sweden
Brazil	Japan	Switzerland
Canada	Korea	Taiwan
China	Malaysia	Thailand
France	Netherlands	United Arab Emirates
Germany	New Zealand	United Kingdom
Hong Kong	Philippines	United States
India	Singapore

MIIF» Investment portfolio» Miaoli Wind (formerly infraVest Wind)

Investment portfolio

Miaoli Wind (formerly infraVest Wind)

Overview
Financials

Miaoli Wind owns and operates 25 wind turbines with a combined capacity of 49.8MW, at two sites in Miaoli County, Taiwan. Miaoli Wind generates revenue by selling its entire energy production to Taipower under two 15 year fixed tariff PPA (one agreement per wind farm site) with an option to extend each PPA for an additional five years. The fixed tariff is NT$2.00/kWh.

Investment	Description
Date of acquisition	20 March 2008
Cost of acquisition⁽¹⁾	S$30.8 million
Valuation⁽²⁾	S$0.0 million
Distribution since acquisition	S$0.4 million
MIIF’s ownership	100.0% interest
% of MIIF portfolio	-%

Includes an equity injection of S$1.7 million made in March 2010 to avoid a breach of the 31 December 2009 debt service cover ratio. The low debt service cover ratio was caused by the poor wind conditions for the 12 months to 31 December 2009.
Based on 31 March 2012 valuations.

Financials

Financial highlights for the three months ended 31 March
NT$m	2012	2011	Variance Fav/(Adv)⁽¹⁾
Revenue	98.1	117.1	(16.2%)
EBITDA	85.5	104.0	(17.8%)
EBITDA margin	87.2%	88.8%	(1.6%)
Distributions to MIIF (S$m)	-	-	-%

Favourable/(Adverse)

Asset gallery

CLICK TO ENLARGE

Did you know?

MIIF was the first infrastructure fund listed on the Singapore Exchange Securities Trading Limited (SGX).

MIIF SGX releases

Refer a friend

This information is a general description of the Macquarie Group only. Before acting on any information, you should consider the appropriateness of it having regard to your particular objectives, financial situation and needs and seek advice. No information set out above constitutes advice, an advertisement, an invitation, an offer or a solicitation, to buy or sell any financial product or security or to engage in any investment activity, or an offer of any banking or financial service. Some products and/or services mentioned on this website may not be suitable for you and may not be available in all jurisdictions.

Macquarie only carries on banking activities in those countries it is authorized to do so. Macquarie Bank Limited (MBL) is authorized by the Australian Prudential Regulation Authority (APRA) in Australia to carry out banking business in Australia. Each of MBL, acting through its London branch, and Macquarie Bank International Limited, is authorized and regulated by the UK Financial Services Authority to carry on banking business in the United Kingdom. MBL, acting through its Seoul Branch, is authorized and regulated by the Financial Services Commission in Korea to carry out banking business in Korea. MBL, acting through its Singapore Branch, is authorized and regulated by the Monetary Authority of Singapore to carry out banking business in Singapore.

Other than MBL, any Macquarie Group entity noted on this page is not an authorized deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). That entity's obligations do not represent deposits or other liabilities of MBL. MBL does not guarantee or otherwise provide assurance in respect of the obligations of that entity, unless noted otherwise.

Macquarie Group Limited and its related corporations are not otherwise currently authorized to accept deposits or conduct banking business in any other jurisdiction. Other members of the Macquarie Group are subject to regulation in the regions in which they operate. Further information can be found on this website or by contacting us.

Macquarie Bank Limited maintains Representative Offices in the states of Illinois, New York and Texas, but is not authorized to conduct banking business in the US.