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You are here: Macquarie International Infrastructure Fund (MIIF) > Investment portfolio > Miaoli Wind |
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Renewable Energy:
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| Investment | Description |
|---|---|
| Date of acquisition | 20 March 2008 |
| Cost of acquisition | S$29.1 million |
| Valuation(1) | S$0.0 million |
| MIIF’s ownership | 100% interest |
| % of MIIF portfolio | 0.0% |
Miaoli Wind owns and operates 25 wind turbines with a combined capacity of 49.8MW, at two sites in Miaoli County, Taiwan. All power generated is sold to Taiwan Power Company, the state-owned power utility in Taiwan, under a long-term power purchase agreement. The tariff under this agreement is currently fixed at NT$2 per kWh.
Miaoli Wind benefits from strong government support for renewable energy in Taiwan and the long-term power purchase arrangement with Taiwan Power Company underpins the stable cash flows expected to be derived from this investment.
| Financial highlights for the twelve months ended 31 December 2009 |
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| NT$m | 2009 | 2008 | Variance Fav/(Adv)(1) |
|---|---|---|---|
| Revenue | 260.3 | 288.2 | (9.7%) |
| EBITDA | 203.6 | 215.2 | (5.4%) |
| EBITDA margin | 78.2% | 74.7% | 3.5% |
| Distributions to MIIF (S$m) | - | 0.4 | - |
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