WELLINGTON: Meridian Energy has announced plans to begin construction on its first New Zealand solar farm this August, with the $227 million Ruakākā Solar Farm set to boost the nation’s energy system and resilience in the Northland region. The 130-megawatt solar farm, located south of Whangārei, will feature 250,000 solar panels spread across an area…
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Meridian Energy to acquire NZ windfarms in $91 million deal
WELLINGTON: Meridian Energy has entered into an agreement to acquire NZ Windfarms Limited (NZWF) for $0.25 per share, valuing the equity of NZ Windfarms at approximately $91 million. The deal, announced on Feb. 19, 2025, is subject to approval from NZ Windfarms shareholders and the High Court. Under the terms of the Scheme Implementation Agreement…
Meridian agrees to sell Australian business for A$729mn
AUCKLAND; Meridian Energy’s Board has agreed the sale of Meridian’s Australian business to a consortium of Shell Energy Operations Pty Ltd and Infrastructure Capital Group (ICG) for A$729 million. On completion, Shell will become the owner of the retail business, Powershop Australia, while ICG will become the owner of the infrastructure assets (Mt Mercer and…
Meridian to begin constructing $395 million wind farm in Hawke’s Bay
AUCKLAND: Meridian Energy will soon begin construction of a new $395 million wind farm in Hawke’s Bay, a news release said. The Harapaki Wind Farm will be New Zealand’s second-largest wind farm with 41 turbines generating 176 MW of renewable energy, enough to power over 70,000 average households. The construction will take around three years…
CEO of MEA and Powershop Australia to step down
AUCKLAND: Meridian Energy confirmed its CEO of Meridian Energy Australia and Powershop Australia, Jason Stein will step down from his role. Due to the ongoing impacts of Covid on travel and personal arrangements, Mr Stein has been unable to relocate with his family from New Zealand to Australia, and so will step down from his…
S&P reaffirms Meridian Energy’s BBB+ corporate credit rating
PERTH: Ratings agency Standard & Poor’s has reaffirmed Meridian Energy’s corporate credit rating as BBB+/Stable/A-2. This includes the current one-notch uplift from the Company’s stand-alone rating of ‘bbb’, reflecting the majority ownership of the New Zealand Government.