New wind farm planned for Mercury New Zealand

Company News

by Rachael Jones

Mercury New Zealand (ASX:MCY) will build the first 33 of 60 wind turbines at Turitea near Palmerston North, a key milestone in New Zealand’s renewable energy development.

Mercury’s Chief Executive, Fraser Whineray, says that current market conditions indicate that new renewable energy capacity is required for New Zealand.

The 119 megawatt wind farm will generate 470 Gigawatt hours per annum on average, enough electricity to power 210,000 cars.

When generation connects to the national grid at Linton, Turitea will be New Zealand’s third largest wind farm.

Shares in Mercury New Zealand (ASX:MCY) closed 2.23 per cent higher to $3.67 yesterday.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.