Meridian, NZ Windfarms team up on 170-MW repowering project

NZ Windfarms (NZE:NWF) and Meridian Energy Ltd (NZE:MEL), New Zealand’s largest electricity producer, will form an equally owned joint venture to repower and expand the Te Rere Hau wind farm in New Zealand’s first project of this type.

Located near Palmerston North on the Tararua Ranges, the wind farm was originally built in 2006 with five turbines and currently features 91 small turbines with an overall capacity of 45.5 MW.

The repowering project calls for the installation of up to 39 new turbines totalling up to 170 MW of capacity. NZ Windfarms has already secured consent for the first phase of about 30 new larger turbines and consent for another nine turbines is being sought.

The initiative is expected to cost between NZD 500 million (USD 291m/EUR 275m) and NZD 600 million, Meridian Energy said today. A final investment decision is targeted in the second quarter of 2025, with completion expected towards the end of 2027.

Meridian plans to buy all of the repowered project’s generation under a 15-year power purchase agreement. In addition, the company has agreed to subscribe for shares in NZ Windfarms and thus secure up to a 19.99% stake.

(NZD 1 = USD 0.582/EUR 0.550)

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