Meridian Energy and Parkwind Ink MoU For Exploration of NZ Offshore Wind

Meridian Energy and European-based Parkwind have signed a memorandum of understanding (MoU) for the exploration of offshore wind generation in New Zealand waters.

Efforts will focus principally on the Taranaki coast and build on work already undertaken by Parkwind, including engagement with the iwi of Taranaki and key stakeholders.

Depending on the outcome of the joint exploration, the two parties may decide to work towards a feasibility permit. Both parties are interested in long-term investments and relationships, following a build-to-own-and-operate business model.

Meridian Energy CEO Neal Barclay says the MoU is an ideal way for the company to explore the potential of offshore wind.

“Offshore wind continues to grow overseas and the economics are shifting. As New Zealand’s leading wind farm developer, we feel the time is right to explore how this might add value to our portfolio, and Parkwind is an ideal partner to work with.”

Parkwind co-CEOs François Van Leeuw and Eric Antoons reiterated the enthusiasm.

“We’re thrilled to announce that Meridian and Parkwind are joining forces. This alliance brings together proven offshore wind experience and Meridian’s deep-rooted expertise in the energy sector. Combined with our shared vision, this partnership is uniquely positioned to harness New Zealand’s abundant offshore wind potential”.

Parkwind and its parent company Jera have a strong track record in developing, financing, constructing, and operating offshore wind farms.

The companies operate seven offshore wind farms off the Belgian, German, UK, and Taiwanese coasts, with one of Japan’s first offshore wind farms (Ishikari Bay) currently under construction. Meridian brings New Zealand’s electricity market and onshore wind farm expertise, including project development, operation, and a route to market for offtake.

Parkwind was recently acquired by Jera, one of the world’s largest power generation companies, which operates an entire supply chain, from upstream fuel and procurement to project development and power generation.