Meridian Energy could take over ownership of three hydropower station in Australia following a recent agreement with Trustpower Limited.
The company’s subsidiary Meridian Energy Australia Pty Ltd has entered into a conditional agreement with Trustpower for the purchase of GSP Energy Pty Ltd which operates the Hume, Burrinjuck and the Keepit Power Stations (formally the Green State Power hydro assets).
The agreement is for the purchase of 100% of the shares of GSP Energy Pty Ltd and is subject to Foreign Investment Review Board approval.
Meridian has been growing its retail customer numbers through its Powershop brand in Australia since 2014.
Acquiring the hydro assets located in New South Wales allows the company to continue to cover its growing retail business by adding 92.4MW of hydro to its renewable generation portfolio.