❓ WA Parliament Question on Notice regarding Verve Energy's investment in Mumbida Wind Farm, detailing the valuation at specific dates and capital contributions made.
AnsweredQoN 933Legislative Assembly
QuestionView source ↗
I refer to Mumbida Wind Farm Pty Ltd, and I ask: (a) what value was placed by Verve Energy on its ownership of 50 per cent of Mumbida Wind Farm Pty Ltd joint venture on each of these dates: (i) 30 June 2011; (ii) 30 June 2012; and (iii) 31 March 2013; and (b) has any capital been paid into Mumbida Wind Farm Pty Ltd joint venture by Verve Energy and if so, on what dates, and in what amounts?
AnswerView source ↗
Answered
1 August 2013
Responded by
Minister for Energy
Response time
35 days
(a) Verve Energy accounts for its investment in the joint venture using the equity method of accounting, in accordance with the relevant accounting standards. The following reflects the carrying value of the investment in the Mumbida Group at the relevant dates.
(i) 30 June 2011: $2,480,000
(ii) 30 June 2012: $6,357,000
(iii) 31 March 2013: $9,538,000
(b) Between 18 May 2011 to 12 December 2012 Verve Energy has made capital contributions of $24,463,716.45 to Mumbida Wind Farm Holdings Pty Ltd.
(i) 30 June 2011: $2,480,000
(ii) 30 June 2012: $6,357,000
(iii) 31 March 2013: $9,538,000
(b) Between 18 May 2011 to 12 December 2012 Verve Energy has made capital contributions of $24,463,716.45 to Mumbida Wind Farm Holdings Pty Ltd.
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