Iberdrola And Enel Dispute The Australian Renewables Company Meridian Energy

The operation is valued at 640 million euros

Iberdrola and Enel meet again in an international bid. Both energy giants participate together with Engie, Shell or Telstra, in the short list of those interested in taking over the Australian renewable subsidiary of Meridian Energy, the main New Zealand electricity company.

The transaction is valued at close to A $ 1 billion, which would amount to about € 640 million.

Meridian announced last June its intention to review its presence in the Australian business where it is analyzing a possible partial or total sale operation of one of the main renewable businesses in the country and expects to receive binding offers this coming December.

For Iberdrola, the acquisition of this company would mean a leap in its entry into the country after the purchase of Infigen.

Meridian Energy Australia owns and operates four wind farms and three hydraulic schemes in Australia. The Mt Millar wind farm is located on the Eyre Peninsula in South Australia and produces approximately 180 GWh of renewable energy per year, enough to supply some 36,000 households.

The Mt Mercer wind farm is located 30 km south of Ballarat in Victoria and produces approximately 400 GWh of renewable energy per year, enough to supply some 80,000 households. The Crudine park generates 414 GWh and the Salt Creek park has the capacity to supply 33,000 households. In addition, the company has the Hume hydroelectric plant located about 20 km upstream from Albury-Wodonga in New South Wales, and it produces approximately 203 GWh of renewable energy per year, enough to supply about 40.

The Keepit hydroelectric plant, located in the north of New South Wales, about 60 km from Tamworth, and which produces 10 GWh of renewable energy per year, enough to supply around 2,000 households. And located in Tanjil (Victoria), the Blue Rock hydroelectric plant, which will produce about 9 GWh of renewable energy per year. That is enough to supply about 1,800 households.

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