Meridian Energy Australia has entered into a $168 million agreement to purchase three hydro power stations from Trustpower and, in addition, has signed three Power Purchase Agreements (PPAs) with renewable projects in Victoria and New South Wales.
The combination of these hydro, wind and solar projects will add 749GWh, taking Meridian’s annual renewable generation to roughly 1,300GWh in Australia.
Meridian Energy Australia and Powershop Australia’s Chief Executive, Ed McManus, said Meridian is pleased to add hydro, wind and solar generation capacity to its existing wind generation.
“These agreements expand our portfolio of 100 per cent renewable generation allowing us to support our growing customer base and drive further demand for large-scale renewable energy in Australia.
“Additionally, the opportunity to acquire hydro assets in Australia is extremely rare and having a balanced portfolio of wind, solar and hydro allows us to more effectively manage risk in the market. Meridian will continue to monitor new technology, such as pumped hydro, batteries and thermal solar, so that we can ensure we have a diverse range of technologies and generation,” McManus said.
About the agreements
Trustpower Hydro power stations, New South Wales
Meridian Energy Australia has entered into a conditional agreement with Trustpower to purchase GSP Energy, which operates three hydro power stations; Hume, Burrinjuck and the Keepit Power Stations (formally the Green State Power hydro assets), located in New South Wales. The agreement is for the purchase of 100 per cent of the shares of GSP Energy.
CWP Renewables – Crudine Ridge Wind Farm, NSW
The Crudine Ridge Wind Farm is an approved wind energy project near Pyramul, NSW, situated approximately 45km south of Mudgee. The new project consists of 37 wind turbines, with a generation capacity of 135MW and is due for completion in 2019.
Total Eren – Stage one of Kiamal Solar Farm, Victoria
The proposed stage one of Kiamal Solar Farm is located north of the Ouyen township in North-West Victoria and is developed by Total Eren, a leading French independent power producer. Stage one of Kiamal Solar Farm is expected to have a nameplate capacity of 200MW and will be Total Eren’s first investment in Australia. The project is currently in advanced development and is due for completion in mid-2019 with part of its capacity contracted to Meridian Energy Australia.
TILT Renewables – Salt Creek Wind Farm
Salt Creek Wind Farm is currently under construction near Woorndoo, around 250km west of Melbourne, Victoria. The wind farm, due for completion in mid to late 2018, is located on a Merino Stud Farm and has a capacity of 54MW.
