“This acquisition enables us to extend our expertise into the US market to implement renewable energy projects in California,” says Meridian chief executive Tim Lusk.
“Moving into the US represents a very important step for Meridian and for the first time, adds solar to our renewable portfolio, “ Lusk adds. The experience will be used to bring solar power to New Zealand, he says.
The two firms say they share a common vision of developing, owning and operating utility-scale renewable electric generation facilities. Meridian is also involved in financing, building and operating wind and hydroelectric projects.
State-owned Meridian Energy operates nine hydroelectric stations and two wind farms, which generate an average of 12,500 GWh per year. It is currently building a wind farm in Antarctica to help reduce the environmental footprint of New Zealand and US scientific bases.
Cleantech America’s first project, the 5-megawatt CalRENEW-1 photovoltaic solar facility in Mendota is the first utility-scale solar PV project to be approved by the California Public Utilities Commission under the state’s Renewables Portfolio Standard (RPS). The electricity will be sold to Pacific Gas & Electric Co. (PG&E) under a long-term power purchase agreement.
Lusk adds: “We will be providing additional resources for Cleantech America’s growth in the development and acquisition of renewable resources.”