Italy’s Enel shortlisted for Meridian Energy deal

Meridian Energy wind farm (Australian)
Image: Meridian Energy

Italian energy distributor Enel has reportedly joined other global heavyweights in the race to purchase Meridian Energy’s $1 billion Australian business, The Australian reported.

Previously a government-owned entity, the now privatised multinational is one of the largest energy companies in the world, with the Italian government holding a 23.6 per cent majority share.

According to the report, Enel has been searching for opportunities to buy into renewables and has apparently been shortlisted in the competition to buy Meridian.

Other shortlisted bidders include Shell, Spain’s Iberdrola, France’s Engie in partnership with Bank of America, and Telstra. Final bids from the shortlisted group are due around December.

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Meridian was one of three electricity companies formed from the break-up of the government’s Electricity Corp of New Zealand. It is is Australasia’s largest 100 per cent renewable energy generator.

The company owns 294MW of renewable generation capacity and 150MW of renewable development opportunities. Its retail business Powershop Australia delivers electricity to 140,000 customers and gas to 40,000.

Meridian Energy Australia owns and operates two wind farms in Australia, both of which are GreenPower accredited and support employment in regional areas.

  • The Mt Millar wind farm is located on the Eyre Peninsula in South Australia and produces approximately 180GWh of renewable energy each year—enough to power around 36,000 households.
  • The Mt Mercer wind farm is located 30km south of Ballarat in Victoria and produces approximately 400GWh of renewable energy each year—enough to power around 80,000 households.
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