New Zealand-based utility companies Meridian Energy Limited and Nova Energy Limited have proposed a joint venture. The plan involves building the 400 MW Te Rahui solar farm in Rangitāiki, near Taupō, New Zealand. The project, estimated to cost $660 million, received resource consent in April 2023 and is designed to supply electricity to approximately 100,000 homes. The development will proceed in two phases, each adding 200 MW of solar capacity. Electricity generated from the facility will be equally shared between the two companies. The project’s financial investment decision is expected by the first quarter of 2025. Non-binding term sheets have been signed, with binding agreements, including power purchase contracts, anticipated in early 2024.
Meridian and Nova to jointly develop 400 MW solar farm
Nova Energy Limited received resource consent for Te Rahui solar farm, scheduled for a financial decision by early 2025. (Image Source: Meridian Energy)
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