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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$16.4 million |
| MIIF's ownership | 100% interest |
| % of MIIF portfolio | 1.4% |
(1) Based on 30 June 2009 valuations.
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$2 per kWh.
Miaoli Wind benefits from strong government support for renewable energy in Taiwan and the long-term power purchase arrangement with Taiwan Power Company underpins the stable cash flows expected to be derived from this investment.
| Financial highlights for the six months ended 30 June 2009 |
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| NT$m | 2009 | 2008 |
Variance Fav/(Adv)(1)
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|---|---|---|---|
| Revenue | 127.1 | 157.8 | (19.5%) |
| EBITDA | 96.8 | 120.2 | (19.5%) |
| EBITDA margin | 76.2% | 76.2% | - |
| Distributions to MIIF (S$m) | - | 0.4 | - |
(1) Favourable/(Adverse)
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