Meridian and Nova to form JV for 400MW New Zealand solar project

Meridian Energy ended the agreements with Nova Energy to create a JV project to build and operate the Solar Solar 400mw TE Rahui at Rangitāiki near Taupō, New Zealand.

JV, owned by equal foot, received $ 300 million ($ 177 million) in financing for the first stage 200mw of the project.

JV has arranged for equal participation in the project of the project, with Meridian purchasing the total output and Nova took a contract for a difference of half of the electricity produced.

In April 2024, Nova obtained the approval of the resource at the Tea Rahui Solar farm. Once the two phases are operated, the facility is expected to provide enough electricity to about 100,000 families.

The first power generation of the first stage will begin in mid -2016, with full operational expectations by mid -2017.

Meridian or Nova has not committed to a financial commitment regarding the second stage of the project, although both parties are working on its progress.

“T -Rahwi is a great task and investment participation and abandonment of being a strong logical for both parties, while the project will also benefit business customers by increasing the safety of the offer,” said Meridian CEO Mike Rawan.

“It is a real victory and we are pleased to have this opportunity to partnership with Nova on T -Rahwi.”

This initiative is part of Meridien’s broader strategy to start seven new projects by 2030, a goal that has been strengthened by the last completion of the Harabaki wind farm and the Ruakākā battery storage system (BESS).

Additional projects in the Meridian Pace pipeline include another in Manouato, a wind farm in Mount Monroe, a solar farm adjacent to Ruakākā Bess and the renovation of the Hau Teer.

Ruakākā Solar Marm is currently, Mount Munro Wind Farm has advanced to the detailed design stage.

“We are our share of heavy lifting to secure the future of energy in New Zealand. After it has invested more than a billion dollars in the past five years, we have another $ 2 billion planning for investment over the next three years. These projects will add more than 1,000 megawatts of the new capacity, an increase of 5 percent in the electricity system.”

“Our contribution to capacity growth is further. Through agreements such as these with NOVA and our energy purchase agreement with Harmony Energy/the first renewable energy sources of the 150 -megawatled Tauhei Solar farm, Meridian also supports other developers.”

JV has taken between Meridian and Nova, which was initially announced in December 2024, to construction, initial operations and maintenance to Beon Energy.

“Meridian and Nova to form JV for a 400 -megawatt project for solar energy” was originally created by Power Technology, a brand owned by Globaldata.

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