Meridian Energy profits up but faces wind farm cost overruns

Meridian's Te Āpiti wind farm. (Image: Meridian)

Wed, 24 Aug 2022

Meridian Energy reported operating earnings of $709 million and increased profits for the June year.At the same time, the company announced a $53m cost overrun on its Harapaki wind farm in Hawkes Bay, now under construction. Meridian’s net profit was $664m in the 12 months ended June 30, up 55% from last year's $428m. Earnings before interest, tax, depreciation, amortisation and changes for financial instruments were $709m, or 2.5% from the prior year’s $692m.Meridian announced a final partially imputed dividend of 11.55 ce...

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