Meridian Energy (NZX: MEL) is charging ahead with its first New Zealand solar project, approving a $227 million investment to build the 130MW Ruakākā Solar Farm just south of Whangārei. Construction is set to kick off in August 2025, with first generation expected by late 2026.
This is a major milestone for Meridian, with the Ruakākā project forming a core part of the company’s $3 billion renewable energy buildout through to 2030.
A Bright Spot for Northland
Chief Executive Neal Barclay described the project as “special,” not just for its clean energy credentials but also for its contribution to energy resilience in Northland — a region that has faced its share of power vulnerabilities in recent years.
The solar farm will cover an area equivalent to 170 rugby fields, using around 250,000 solar panels to produce 230GWh of electricity annually — enough to power half the homes in Northland.
And it’s not a standalone project. The solar farm will be located next to Meridian’s 100MW Ruakākā Battery Energy Storage System (BESS), which is due to be fully operational in April 2025, forming the Ruakākā Energy Park — a key piece of the company’s push to bolster national energy security.
Driving Down Power Prices
“This is about building for the future,” said Barclay. “As more renewable generation comes online, we’ll start to see wholesale electricity prices come down — and that’s good news for Kiwi homes and businesses.”
The solar farm is part of a flurry of recent activity across Meridian’s portfolio. That includes:
- Consent granted for the 90MW Mt Munro Wind Farm near Eketāhuna,
- A joint venture with Nova Energy for the 400MW Te Rāhui Solar Farm near Taupō,
- And development of a 100MW BESS in Manawatū, alongside a repowering project with NZ Windfarms.
Building Capacity, Building Capability
Meridian has tapped Ethical Power — a specialist in solar and battery systems — to handle construction and operations. Ethical Power has delivered numerous projects across the UK and Europe and is building a presence here in New Zealand.
With a strong in-house construction team now able to deliver two major projects concurrently, Barclay says the company is well-positioned to hit its $1 billion capital spend target for 2025.
