New Zealand Generates Energy the Green Way

---

Researched by Industrial Info Resources (Sugar Land, Texas)--Meridian Energy Limited (Wellington, New Zealand), which was established after the dissolution of the Electricity Corporation of New Zealand in 1999, generates all of its electricity from renewable sources, such as hydroelectric power and wind power. The company is also New Zealand's leading electricity producer, taking about 32% of the electricity market in 2009. Meridian hopes to become a global model and was also honored as the country's first carbon-neutral company.

Overall, New Zealand's electricity sector generates power mainly through renewable sources, which account for nearly 73% of generated power. The remaining 23% is generated via fossil fuels. Regulation of all generated electricity falls under the responsibility of the Electricity Commission. Hydropower provides 57% of New Zealand's energy, with nearly 5,400 megawatts (MW) of capacity producing about 24,000 gigawatt-hours (GWh) by the end of 2009. About 2,500 MW of all hydroelectric power is generated by Meridan's nine hydropower stations.

New Zealand's position atop the Pacific Plate and the Indo-Australian Plate make it an ideal location for the development of geothermal energy, which accounts for 11% of the country's power. Wind power makes up a small portion of the renewables sector. However, various companies, including Merdian, have expressed plans to boost installed wind power capacity by an additional 2,700 MW. The additional capacity provided by the new windfarms should keep pace with the country's ever-increasing demand for electricity.

Meridian plans to develop more than 1,900 MW in wind power capcity between 2011 and 2014. The largest of these projects, Project Hayes, is scheduled to generate about 630 MW when completed toward the end of 2014. Meridian is investing $2 billion in 176 wind turbines that will be constructed approximately 80 kilometers northwest of Dunedin, the second-largest city on the South Island. Other windfarms include the 120-MW Project Central Windfarm, near Waiouru on the North Island, and the 71-MW Mill Creek Windfarm near Wellington. Meridian is investing nearly $400 million in these projects.

View Project Report - 87300056

Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. IIR's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities.