Latest Wind Farm for Meridian Energy ( Solar Thermal Magazine)
Meridian Energy just recently announced that it has completed Mt Mercer wind farm, located near Ballarat in Victoria, on time and on budget.The wind farm is expected to generate enough electricity to power around 80,000 homes.
This clean, renewable energy means that Victoria will eliminate almost 500,000 tonnes per year of carbon emissions from fossil fuel generators.
Final handover for the project takes place today and the project has:
- been delivered below budget and within the timeframe in the Company’s prospectus
- created over 250 local jobs in the Ballarat region during construction, and a further 20 permanent jobs in the ongoing operation of the wind farm
- achieved an outstanding safety record, with positive community engagement.
Meridian invested over AUD$250 million in this project based on the existing legislated Large Renewable Energy Target (LRET) of 41,000 GWh by 2020.
Chief Executive of Meridian Energy Australia and Powershop Australia Ben Burge says
with the cooperation of our partners, Senvion Australia and Downer, we were able to achieve full production within 24 months of signing the construction contract, without the requirement for either external project finance or a power purchase agreement. This demonstrates that the 41,000 GWh by 2020 LRET is clearly achievable, notwithstanding sustained opposition to the policy by the Big Three retailers.
Meridian’s investment in renewable assets supports the growth of Powershop, Victoria’s fastest growing retailer, enabling tens of thousands of Victorians to benefit from reduced emissions and lower electricity bills. The addition of the Mt Mercer wind farm will enable Meridian to expand the operations of Powershop in Australia.
“Further benefits of lower energy prices, enhanced retail competition and regional jobs can be unlocked if the Government recommits to the LRET in its existing form,” commented Burge.
Meridian remains committed to the development of Powershop and other Australian renewable energy investments, and looks forward to a return to stable bipartisan energy policy in Australia that provides meaningful support for renewable energy investments.