State-owned Meridian Energy is paying $A191 million ($NZ239 million) for the Mt Millar wind farm in South Australia.Meridian chief executive Tim Lusk said the 70-megawatt Mt Millar was fully operational and would become an important part of Meridian's win
State-owned Meridian Energy is paying $A191 million ($NZ239 million) for the Mt Millar wind farm in South Australia.
Meridian chief executive Tim Lusk said the 70-megawatt Mt Millar was fully operational and would become an important part of Meridian's wind portfolio, particularly once power purchase agreements expired at the end of 2012 and the company could take advantage of stronger market prices.
The purchase of the Mt Millar facility, from the Transfield Services Infrastructure Fund, was consistent with Meridian's plans to increase its investments in Australian renewable energy assets and to add value to the business through both strategic acquisitions or the development of greenfield opportunities, Mr Lusk said.
Mt Millar was a good fit with Meridian's other renewable energy activities in Australia, including working with AGL on the Macarthur wind farm project in southwest Victoria.
Permits have been granted for 183 turbines that could generate up to 450MW and at Macarthur, which is thought likely to be the largest such wind farm in the southern hemisphere when built.
