Share
- Release Date: 16/05/14 12:01
- Summary: ASSET: MELCA: Meridian sells US solar plant
- Price Sensitive: No
- Download Document 2.41KB
MEL
16/05/2014 10:01
ASSET
REL: 1001 HRS Meridian Energy Limited
ASSET: MELCA: Meridian sells US solar plant
Meridian Energy today announced it has sold its American-based solar plant
CalRENEW-1.
The solar plant has been sold to SunEdison, a California-based developer,
manufacturer and retailer of photovoltaic energy products.
Meridian General Manager External Relations, Guy Waipara, says the sale is
the last step in Meridian's exit from the US energy market.
"Since a decision was made to exit the US market to focus on our operations
in New Zealand and Australia, we have been working hard to wind up and sell
all of the parts of our US subsidiary."
The sale of CalRENEW-1, the subsidiary's largest asset, marks the end of that
process and wraps up a significant effort for Meridian in the US spanning
five years.
CalRENEW-1 is a 5 MW solar photovoltaic (PV) power plant and was completed by
Meridian's US subsidiary in 2010. The power plant is located in Mendota
California, covering almost 50 acres and using more than 50,000 individual
solar panels.
It was the first utility-scale PV solar project to be connected to the grid
operated by the Californian Independent System Operator in April 2010, and
provides additional generation resources during peak periods of energy use.
"The experience we gained from our involvement in the US assisted us
enormously with our 1 MW Tongan solar project Maama Mai, which was completed
in 2012. This knowledge about utility-scale solar and its possibilities is
reflected in the focus we have on promoting solar with our customers for
residential and commercial use in New Zealand.
"We support customers who want to take up solar offerings and have one of the
most attractive solar offerings in the market. In the past year the number of
Meridian residential solar customers has increased by around 1000 to 1700."
Guy says customers invest in solar for various reasons. "For some the
decision is about sustainability and drivers such as energy independence.
While for others, like rural or off-grid customers, solar makes sense to
avoid high connection costs."
Meridian has also partnered with Auckland Museum to install solar panels on
the museum's roof.
For media queries, please contact:
Michelle Brooker Media Manager 021 225 9624
For Investor Relations queries, please contact:
Owen Hackston Investor Relations Manager 021 246 4772
End CA:00250547 For:MEL Type:ASSET Time:2014-05-16 10:01:53
