Barclay said Ruakākā, and a raft of other renewable power projects under way around the country, would help drive wholesale power prices down.
“This project is special. Not just because it’s our first solar farm in New Zealand, but because it will add so much to the Northland region in terms of energy resilience, and we’ve seen in recent years how important that is,” he said.
“These are busy times for Meridian and many others investing in the generation market, and our collective efforts will enable more electricity use, provide alternatives to thermal fuels and boost the country’s energy security in dry years.
“As more and more new renewable generation comes online, we’ll start to see wholesale power prices come down, which is what we want for Kiwi homes and businesses,” Barclay said.
With 250,000 solar panels and covering an area the size of 170 rugby fields, the Ruakākā Solar Farm will be capable of producing up to 230GWh (Gigawatt hours) of electricity a year.
The farm is sited next to Meridian’s 100MW Ruakākā Battery Energy Storage System (BESS), which will be fully operational in April, and will complete the company’s Ruakākā Energy Park.
Today’s announcement follows several recent milestones in Meridian’s development pipeline, including consent for its 90MW Mt Munro Wind Farm near Eketāhuna, the announcement of a 50-50 joint venture with Nova Energy Limited to build the 400MW Te Rahui Solar Farm at Rangitāiki near Taupō, and consent for a 100MW BESS in Manawatū.
Meridian is also part of a joint venture with New Zealand Windfarms to repower the Te Rere Hau wind farm, also in Manawatū.
Barclay, who is due to step down as CEO at the end of June, said there was momentum in Meridian’s development pipeline.
The company plans to invest $3 billion in renewable energy through to 2030 and expects to commit $1b of capital this year alone.
Meridian had built a strong in-house construction team that was already capable of delivering two projects at once, he said.
The company has awarded construction and operations and maintenance contracts to renewable energy expert Ethical Power, with first generation expected in late 2026 and full generation in early 2027.
Ethical Power specialises in solar and battery energy storage systems, with an extensive track record delivering renewable energy projects in the UK, and a growing presence in Spain, Italy and New Zealand.
Jamie Gray is an Auckland-based journalist, covering the financial markets and the primary sector. He joined the Herald in 2011.
