Latest news with #MikeRoan
Scoop
16-07-2025
- Business
- Scoop
Meridian Welcomes High Court Approval Of NZ Windfarms Acquisition
Meridian Energy welcomes today's High Court approval of the Scheme of Arrangement under which Meridian will acquire all of the shares in NZ Windfarms Limited (NZWF). A copy of the sealed Final Orders is attached to the market announcement released today by NZWF. The final steps in the Scheme process are now underway. Provided the remaining customary conditions are satisfied or waived, implementation of the Scheme will occur on 30 July 2025. The two companies are already parties to a 50-50 joint venture to repower NZWF's largest asset, the TeRereHau Wind Farm inManawatū, and for Meridian topurchase100% of the generation from the wind farm. Meridian also currently holds a 19.99% shareholding in NZWF. Meridian willnow acquireall remaining shares in NZWF for $0.25 cash per share, corresponding to an equity value for NZWF of $91 million. The scheme was previously approved by NZWF shareholders on 24 June 2025. Meridian Chief Executive Mike Roan says the company is delighted to have now received High Court approval. 'This deal will reward NZ Windfarms' shareholders for the value created to date, while also enabling more efficient financing and delivery of the Te Rere Hau repowering project.' The repowering project involves the design, construction and operation of up to 39 new turbines with generation capacity of up to 170MW. It has the potential to generate seven times the annual renewable energy production of the current turbines.
Otago Daily Times
12-07-2025
- Business
- Otago Daily Times
Hydro lakes at 101% of average
Lake Pukaki and the hydro canal. PHOTO: MERIDIAN ENERGY Meridian's hydro lakes are in good shape as New Zealand moves into the second month of winter, thanks to regular rain, careful balancing of hydro and wind generation as well as a proactive approach from the electricity industry to boost security of supply, Meridian chief executive Mike Roan says. "Supply being managed carefully and low spot prices — this is the market doing what it was designed to do and working in the interest of all New Zealanders," a statement from Mr Roan said. "The welcome boost we've seen in our hydro storage is the result of regular rain since April, rather than the damaging events we've seen in other parts of the country over the last week." Across the country, controlled hydro storage was at 101% of average for the time of year. Among the storage lakes that Meridian manages, the Waiau catchment (Lakes Te Anau and Manapōuri) is 89% full, or 131% of average for the time of year, while Lake Pūkaki is 61% full, or 93% of average for the time of year. "That storage, along with increased thermal fuel reserves, has seen wholesale [spot market] prices soften considerably, with average prices last week of $91 in the North Island and $85 in the South Island. "Forward market prices at Otahuhu for 2025 have also halved, having fallen from $300/MWh in March and April to $150/MWh currently." At 11.40am on Wednesday, Meridian was generating almost 1900MW. "We produced 106GWh on the Waitaki chain in the week beginning June 23, out of a total 250GWh across all of Meridian's assets. "Of that, 207 was hydro, and 43 was wind," a Meridian spokesperson said.
1News
02-07-2025
- Business
- 1News
Silver lining to rain-laden clouds over Aotearoa
Regular rain may have caused issues for parts of New Zealand over the last couple of months, but it has also helped ease concerns for the country's electricity generation. Power company Meridian Energy said its hydro lakes were "in good shape as New Zealand moves into the second month of winter" thanks to regular rain and actions from the electricity industry to boost security of supply. "Supply being managed carefully and low spot prices – this is the market doing what it was designed to do and working in the interest of all New Zealanders," said Meridian chief executive Mike Roan. Among the storage lakes that Meridian managed, the Waiau catchment (Lakes Te Anau and Manapōuri) was 89% full, or 131% of average for the time of year, while Lake Pūkaki was 61% full, or 93% of average for the time of year. Lake Pūkaki (file image). (Source: Meridian Energy) ADVERTISEMENT That storage, along with increased thermal fuel reserves, has softened wholesale prices considerably, with average prices last week of $91 in the North Island and $85 in the South Island. Forward market prices at Otahuhu for 2025 have also halved, having fallen from $300/MWh in March and April to $150/MWh currently. "The welcome boost we've seen in our hydro storage is the result of regular rain since April, rather than the damaging events we've seen in other parts of the country over the last week," Roan said. The morning's headlines in 90 seconds, including Australia's weather bomb, the surprising costs of getting one more dog, and BTS are back. (Source: 1News) "Gaining access to more water at assets where the built infrastructure is already in place is an opportunity New Zealand needs to capitalise on. It can happen more quickly and with less environmental impact than any form of new generation." He said Meridian was working toward increasing New Zealand's hydro storage capacity, to help boost security of supply and reduce electricity prices for Kiwi homes and businesses.
Newsroom
17-06-2025
- Automotive
- Newsroom
Don't expect rooftop solar to power NZ's future, says new Meridian boss
Mike Roan has been running renewable power systems for 33 years. Straight out of university, he got a job at Whakamaru hydro power station on the upper Waikato River. And in two weeks' time, the 55 year old will step into the role of chief executive of Meridian, the country's biggest renewable power generation company. His family drives only EVs: a BMW iX SUV, and a Peugeot 208 "shopping trolley" for around town. The upfront cost is "challenging", he admits, but they pay themselves off. "And they're a bloody amazing piece of technology."
Otago Daily Times
03-06-2025
- Business
- Otago Daily Times
Tiwai Point to ramp up production
Meridian Energy's Manapōuri power station. PHOTO: MERIDIAN ENERGY The Tiwai Point aluminium smelter is ramping back up as hydro lakes further north have received more rain. Meridian Energy said in a statement yesterday that it and New Zealand Aluminium Smelters Limited (NZAS) had agreed NZAS would ramp up production from June 16 to bring the current demand response to an end early, targeting a completion date of August 11. It had been set at November 25 but will now end more than three months earlier than that. NZAS will notify Meridian if the target completion date changes. The demand response option in place is Option 4. This is normally 185MW but has been modified to 50MW. "New Zealand's hydro storage is looking much healthier than it was just a few weeks ago, so we are now confident regarding security of supply this winter. As a result, we want NZAS to get back to business," Meridian Energy chief executive Mike Roan said. "This is another example of how willing NZAS is to support New Zealand's electricity system while making some of the purest, renewable aluminium on the planet and we are hugely appreciative of that." Meridian will next have the ability to call for demand response Option 3 (100MW) or Option 4 (185MW) under the demand response agreement between the parties to take effect from April 12 next year. It will next be able to call demand response Option 1 (25MW) no sooner than 60 days after this ramp up finishes and Option 2 (50MW) no sooner than 90 days after this ramp up finishes. There had been concerns about hydro storage earlier this year. New Zealand's controlled hydro catchments — the main driver to keep the lights on during winter — had had the driest start to the year in 93 years of historic records, a statement from Transpower said in late April. But rain had arrived in the catchments of the hydro lakes and helped to fill them up. Hydro power supplies about 57% of the nation's electricity supply. Minister of Energy Simon Watts earlier announced changes to drawdown limits at Lake Manapōuri and Lake Te Anau. Mr Watts said the changes would deliver an extra 45GWh of energy from the Manapōuri Power Scheme each year — enough energy to power around 6000 homes. It was an important step in the government and the sector's work to protect the security of the country's energy supply for the future, Mr Watts said. — PL
