Meridian Energy buys 749GWh of renewable energy projects in Australia

Meridian Energy’s Australian business has greatly expanded its portfolio in the country by investing in solar, hydro and wind projects.

The most significant of these is the acquisition of three hydro plants from Trustpower for a total of $168mn, all based in New South Wales.

Among the wind and solar investments (all Power Purchase Agreements) are the 37-turbine windfarm owned by CWP Renewables in NSW, Salt Creek Wind Farm in Victoria and stage one of the Kiamal Solar Farm, also in Victoria. Combined, all of these renewable projects will generate 749GWh of power.

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Meridian Energy Australia and Powershop Australia’s Chief Executive Ed McManus said: “Meridian is pleased to add hydro, wind and solar generation capacity to our existing wind generation. These agreements expand our portfolio of 100% renewable generation allowing us to support our growing customer base and drive further demand for large scale renewable energy in Australia.

“Powershop, Meridian Australia’s retail arm, has been on a strong growth trajectory since its launch in 2014, with customer numbers now more than 100,000. Acquiring the three hydro power stations along with the three PPAs for wind and solar farms in New South Wales and Victoria allows Powershop to continue to cover its growing retail position.”

Powershop Australia is the only electricity retailer to be certified 100% carbon neutral by the Australian Government and has been ranked by Greenpeace as the greenest power company in Australia for two years running. Meridian was also recognised as one of the most sustainably perceived brands in New Zealand in a recent consumer survey by Colmar Brunton.