Meridian Energy Limited · NZX:MEL
Meridian Energy — Corporate Update (October 2023)
6 slides from Meridian Energy's corporate update, Oct 26, 2023
Slide 1: Te Rere Hau Wind Farm Repowering
Te Rere Hau Wind Farm Repowering 26 OCTOBER 2023 Visual simulation of the repowered Te Rere Hau wind farm
Slide 2: Today's announcement
Today’s announcement § Meridian (MEL.NZX, MEZ.ASX) and NZ Windfarms (NWF.NZX) forming a 50/50 joint venture to repower and extend the Te Rere Hau wind farm § The joint venture will design, operate and construct up to 39 new turbines, with a generation capacity of up to 170MW § New Zealand’s first wi
Slide 3: Project timeline
Project timeline Te Rere Hau Te Rere Hau Te Rere Hau Te Rere Hau Aokautere Joint Project FID Project first Project Stage 1 Stage 2/3 Stage 4 repowering Expansion venture expected power completion commissioning commissioning commissioning consent consent announced expected expected granted referred 3
Slide 4: Meridian and NZ Windfarms relationship
Meridian and NZ Windfarms relationship § Joint venture is a dual limited partnership structure (Project SPV), 50% initial equity allocation each § Meridian is the lead project developer and will fund a capped development contribution § Meridian intends enter a 15-year power purchase agreement (PPA)
Slide 5: About NZ Windfarms Limited
About NZ Windfarms Limited § NZ Windfarms Ltd is a long-term specialist wind farm owner and operator, with its revenue coming from the sale of sustainably generated electricity from its Te Rere Hau wind farm § The Te Rere Hau wind farm is located on North Range Road in the Tararua Ranges outside of
Slide 6: Disclaimer
Disclaimer The information in this presentation was prepared by Meridian This presentation may contain non-GAAP financial measures, Energy with due care and attention. However, the information is including EBITDAF. Because they are not defined by GAAP or IFRS, supplied in summary form and is therefo