Meridian
Creating a Better Energy Future As the world transitions to a renewable energy future as a way to reduce carbon emissions, New Zealand is in the enviable positon of generating around 80% of its electricity from renewable resources.
West Wind Farm, Wellington New Zealand
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hile reaching this level is primarily due to an abundance of natural resources such as suitable lakes for hydro dams, consistent wind and a high level of geothermal activity, it is not all down to luck. Reaching this 80% mark, which places us among the top three countries in the OECD for generating electricity from renewable resources, is also due to a national commitment to reach a target of 90% renewable generation by 2025. Having this target for the country has motivated not just those in the industry to focus on building low carbon emitting assets. It also plays an important part in the country’s identity as a clean, green nation, which is something that resonates with all New Zealanders. The fact that New Zealand’s renewable energy projects are being built without subsidies is also significant, particularly when you compare New Zealand to most countries, which are relying heavily on subsidies to convert to renewable energy. Another key factor in shaping the New Zealand electricity sector and Meridian Energy’s position as a renewable electricity company is regulatory and investment stability. While there will always be uncertainty both in investment and regulation, a certain level of stability is essential for companies that invest large amounts of capital into electricity infrastructure. This is particularly important
for countries transitioning to renewable energy as renewable assets are the most capital Guy Waipara intensive of all electricity generation sources. Compare New Zealand’s investment and regulatory environment with that of Australia, which is a country that produces three quarters of its electricity from coal. Recent regulatory uncertainty has eroded investor confidence and stalled new renewable projects. As the largest generator of electricity in New Zealand, Meridian Energy is committed to 100% renewable energy. With its seven hydro dams, one of which is in a World Heritage Site, and five wind farms in New Zealand as well as two wind farms in Australia, Meridian is a leading developer of renewable electricity and a significant retailer of electricity both in New Zealand and Australia. Meridian’s purpose is creating a better energy future. Having this single-minded proposition which entails producing electricity only from natural resources and having a real commitment to sustainable practices and the communities where we operate, Meridian has developed a strong identity and brand. Being passionate and proud of this purpose means that we stay the course no matter what. ›
Mamma Mai Solar Power Station, Nuku’alofa, Tonga
Antalya. Turkey 2015 ❙ 67