Meridian pushing for more renewables as profits rise

Boosting wind generated electricity is a key part of Meridian's plans despite rising construction costs (Image: Supplied)

Greg Hurrell

Wed, 24 Aug 2022

Meridian Energy is pushing ahead with an ambitious plan to build a new energy mix of wind and solar generation coupled with battery storage. But it says the country faces a huge challenge to build enough renewable capacity to reach its 2050 decarbonisation goals.New Zealand’s largest electricity company today announced a net profit of $664m for the June 2022 financial year, up 55% from last year's $428m. Earnings before interest, tax, depreciation amortisation and changes for financial instruments were $709m, up $17m or 2.5%, fro...

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