Meridian buys into solar with Cleantech America

cleantedch 31214a Meridian buys into solar with Cleantech America

“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.”