Meridian wind farm deal

New Zealand electricity generator Meridian Energy has entered a joint venture with AGL Energy of Australia to build the A$800 million ($1 billion) Macarthur Wind Farm in southwest Victoria.

The wind farm is expected to deliver about 945 gigawatt hours of electricity each year.

Construction is expected to take about three years, but the venture is still dependent on meeting a series of conditions, including approval by the boards of both companies, Australian energy websites reported.