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To view Pacific Hydro's recent media announcements click on the links below.
| 2 Nov 05 |
State Based Renewable Energy Target
Australia’s leading renewable energy company, Pacific Hydro, welcomes today’s announcement by Victorian Premier Steve Bracks that they will look to introduce a state based scheme to increase the uptake of renewable energy. |
| 2 Nov 05 |
Financial Close of US$270 Million La Higuera Hydro Project
Australia’s leading renewable energy company, Pacific Hydro, announced yesterday that it had achieved financial close for the 155 megawatt (MW), La Higuera Hydro development in Chile. The project has been developed by Pacific Hydro and its joint venture partner, Norwegian based energy company, Stratkraft Norfund Power Invest (SN Power). |
| 20 Jun 05 |
Industry Funds Management welcomes Acciona’s acceptance of IFM offer (PDF 29k)
Industry Funds Management today welcomed the announcement from Spanish company, Acciona S.A. (“Acciona”), that it will accept the $5.00 per share offer by IFM Renewable Energy Pty Ltd (“IFM”) for its 15.7% interest in Pacific Hydro Limited (“Pacific Hydro”) after Acciona’s offer closes on 28 June 2005. Acciona’s acceptance will effectively increase IFM’s interest in Pacific Hydro to more than 50 per cent.
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| 20 Jun 05 |
Pacific Hydro’s Independent Directors Recommend that Shareholders Accept IFM Renewable Energy's Offer (PDF 15k)
Acciona, S.A. (“Acciona”) announced today that its takeover offer for Pacific Hydro Limited (ASX: PHY) will close on 28 June 2005 and it will accept IFM Renewable Energy Pty Ltd’s (“IFM”) Offer of $5.00 per Share. Acciona holds a 15.7% interest in Pacific Hydro as a result of AEP Investments, Inc accepting Acciona’s offer in accordance with its prebid acceptance agreement. IFM currently has an interest of 35.1% in Pacific Hydro and, following Acciona’s acceptance of its offer, will own more than 50% of Pacific Hydro. |
| 20 Jun 05 |
Acciona Accepts IFM Renewable Energy's Offer of $5.00 Per Share (PDF 188k)
On 10 June 2005 AEP Investments, Inc (AEP) accepted the Acciona Offer in respect of its 15.7% stake in Pacific Hydro. Following the close of Acciona's Offer on 28 June 2005, Acciona will accept the Offer dated 9 May 2005 made by IFM Renewable Energy Pty Ltd (IFM) of $5.00 per Pacific Hydro Share contained in IFM's bidder's statement dated 3 May 2005, and in respect of all of its interests in Pacific Hydro which as at 20 June is 15.7%.
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| 15 Jun 05 |
Management Restructure at Pacific Hydro
The Chairman of Pacific Hydro Limited (ASX:PHY), Bernard Wheelahan, announced today senior management changes including the retirement of Managing Director, Jeff Harding, at the end of June 2005 after 10 years service. Mr Harding will also retire as a director of Pacific Hydro. Mr Wheelahan congratulated Jeff on his outstanding contribution and thanked him on behalf of the board for his management of the Strategic Review which is near to a successful conclusion. Jeff Harding, a civil engineering and economics graduate from Melbourne University, joined Pacific Hydro in 1995 when the market capitalisation of the company was $5 million. It is now over $750 million. ASX Media Release (PDF 14k) |
| 29 Mar 05 |
ASX Announcement
At the request of the ASX, Pacific Hydro confirms that the offer by Acciona announced earlier today is an offmarket bid.
PDF Format (8k)
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| 29 Mar 05 |
Pacific Hydro Recommends A$4.50 Cash Per Share Takeover Offer
The Board of Directors of Pacific Hydro Limited (ASX:PHY) today unanimously recommended, in the absence of a superior proposal, that shareholders accept a A$4.50 cash per share takeover bid from Acciona, S.A. (“Acciona”). In addition, shareholders will retain the 2.5 cent interim dividend which is due to be paid on 5 April 2005.
PDF Format (30k)
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| 24 Mar 05 |
New Renewable Energy Technology Makes Waves in WA
An Australian designed project that marks a new era in wave power generation was launched in Fremantle this week. Backed by the Britishbased company Renewable Energy Holdings (REH) plc, the CETO wave energy converter was designed and developed by West Australian company Seapower Pacific Pty Ltd. Pacific Hydro holds a 14.7% interest in REH and has been working with CETO’s developers since the project’s inception.
PDF Format (15k)
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| 15 Feb 05 |
Pacific Hydro Wave Generation Development
Renewable energy company Pacific Hydro (ASX:PHY) today advised the completion of the sale of its investment in the CETO wave energy project to Renewable Energy Holdings Plc (REH) in the United Kingdom. In consideration for the sale of its 49% interest in Seapower Pacific Pty Ltd to REH, Pacific Hydro will receive shares in REH equivalent to a 14.5% interest in REH, a cash payment of £500,000 and option equivalent to 3% of the issued capital of REH.
PDF Format (13k)
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| 8 Feb 05 |
Pacific Hydro Announces Strong Half Year Results
Australia’s leading renewable energy company, Pacific Hydro Limited (ASX: PHY), today announced a strong half year profit. For the period ending 31 December 2004, the Company achieved a net profit after tax of $21.3 million, exceeding the previous corresponding result of $20.3 million. Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) was $31.3 million, an increase of 26% over the previous corresponding period. The Company is on track to exceed its previous full year profit of $31.2 million.
ASX Release (PDF 20k)
Appendix 4D (205k)
Half Year Results Presentation (300k) |
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