Meridian inks three power supply agreements with Powershop
Date: 2018-02-01   Author: Saipriya Iyer  Category: #market

Meridian inks three power supply agreements with Powershop

Meridian Energy Limited, a New Zealand based power generating & supplier firm, has signed three power supply contracts with Powershop, an Australian online electricity retailer. Reports cite that according to the deal, the New Zealand based firm is expected to supply renewable energy to Powershop through its wind & solar farms. The contracts have been signed on for the power that would be generated over the next two years via a 37-turbine Crudine Ridge Wind Farm with a capacity to generate 135 MW of power. Meridian’s officials have apparently declared that the construction of the Wind Farm will be completed by 2019.

With its main objective of expanding across the renewable energy market, Meridian has also decided to purchase sustainable energy from the Kiamal solar farm of Total Eren and Salt creek wind farm of Tilt. The company claims that it had acquired three hydroelectric power plants from Trustpower for USD 183.3 million as per its earlier announcement. Sources cite that the firm also entered into three power purchase deals with the companies involved in the renewable energy projects across New South Wales and Victoria.

The Australian government is apparently promoting the use of green energy, thereby generating a huge demand for the same across the country. As per the Renewable Energy Target scheme, the country’s administration aims to encourage the funding of renewable energy ventures for generating nearly 33,000 GWh of more renewable energy by 2020.

Experts predict that Meridien’s strategic decision to enter into supply agreements with the Australian firms will not only help the company expand across the country’s renewable energy market but will also create more value for its business, state analysts. Elaborating further, they are of the opinion that the rapidly growing renewable energy trends in the country and government concerns over fossil fuel emissions are expected to provide huge business growth opportunities for the industry players across the region.



About Author


Saipriya Iyer

Saipriya Iyer

Saipriya Iyer currently works as a content developer for AlgosOnline. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her belt, she has dabbled with website...

Read More

More from Saipriya


Post Recommendents

Vascular Ultrasound Machine Market Analysis, Growth by Top Companies, Trends by Types and Application, Forecast to 2025
Author: Sachin Pashte

Advanced report on ' Vascular Ultrasound Machine market' Added by Market Study Report, LLC, offers details on current and future growth trends pertaining to the business besides information on myriad regions across the geographical landsca...


Solar Module Racking Market to Soar at steady CAGR up to 2025
Author: Sachin Pashte

The latest report on ' Solar Module Racking market' as Added by Market Study Report, LLC, offers comprehensive details on industry size, regional spectrum and revenue estimates of the business. In addition, the report stresses on major cha...


Exhaust Gas Scrubber System Market Size, Segmented by Product, Top Manufacturers, Geography Trends and Forecasts to 2025
Author: Sachin Pashte

The newest report on ' Exhaust Gas Scrubber System market' now available a MarketStudyReport.com, offers concise facts about the geographical landscape, industry size and revenue estimation of the business. Additionally, the report focuses...