Meridian sells Energy for Industry unit to Pioneer for more than $50M

Meridian sells Energy for Industry unit to Pioneer for more than $50M
Dec. 20 (BusinessDesk) – State-owned Meridian Energy sold its Energy for Industry subsidiary to Central Otago-based Pioneer Generation in a transaction worth more than $50 million. Energy for Industry, which was established in 2000, provides energy management services to companies, according to its website. The sale is part of Meridian’s plan to divest non-core subsidiaries, it said. Meridian is one of the state-owned power companies ear-marked for a partial sale by the government. Pioneer is a community trust-owned generator based in Alexan...