Meridian exits Australia in A$729m deal

Neal Barclay says the deal is an outstanding result for Meridian’s shareholders. (Image: Meridian)

Mon, 22 Nov 2021

Meridian Energy is selling all of its Australian electricity sector assets, ending nearly two decades of investment in renewable wind and hydro generation and establishment of its retail brand Powershop across the Tasman.Today’s announcement follows a strategic decision earlier this year to examine an exit because of the “highly politicised” energy sector environment in Australia.The Australian arm of the multi-national oil company Shell will buy Meridian Australia’s 140,000-strong Powershop customer base while Infrastru...

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