Meridian inks three power supply agreements with Powershop
Date: 2018-02-01   Author: Dhananjay Punekar  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


Dhananjay Punekar

Dhananjay Punekar

Dhananjay currently works as a content writer at AlgosOnline. A post graduate in mathematics as well as business administration, he worked as a process executive in Infosys BPO Limited before switching his professional genre. Following his childhood passion, he opted fo...

Read More

More from Dhananjay


Post Recommendents

District Heating Market is projected to reach USD 250 Billion by 2024
Author: Rahul Sankrityayan

Ongoing adoption of government regulations toward limiting carbon emissions along with advent of advanced technologies toward reusing and recycling the waste energy will augment the Industry growth. For instance, as per the Clean Air Act, the U.S....


Asphalt Mixing Plants Market Trend & Growth Forecast 2018-2024 By Application - Road Construction
Author: Rahul Varpe

Asia Pacific Asphalt Mixing Plants Market generated revenue over USD 2.5 billion and is foreseen to hold a major share of the market pie over the coming years. Owing to the robust growth in the countries of Asia Pacifi...


Painting Tools Market Trend & Growth Forecast 2018-2024 By Product - Brushes, Rollers, Scrapers, Knives, Trays, Spray Gun, Masking Tapes
Author: Rahul Varpe

Painting tools market share from construction applications is predicted to surpass a revenue collection of USD 10 billion by 2024, owing to the increasing industrialization and escalating housing need of the rapidly gr...