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Overview
Meridian Energy is a New Zealand electricity generator and retailer. It is one of the largest listed companies on the New Zealand Stock Exchange, with more than 285,000 shareholders. The company has a focus on sustainable and renewable energy, with a significant portion of its electricity being generated from wind, hydro, and solar sources. History Meridian Energy was established in 1999 when the New Zealand government separated the countryβs electricity industry into three companies: Contact Energy, Genesis Energy, and Meridian Energy. The company was initially formed as a state-owned enterprise, but in 2013, the government sold a 49% stake to private investors. Operations and assets Meridian Energy owns and operates seven hydroelectric power stations and six wind farms in New Zealand, as well as two wind farms in Australia. In addition, the company has investments in solar energy projects and a data centre. In 2020, Meridian Energy announced plans to build a new wind farm in Central Otago, New Zealand, which will become the countryβs largest wind farm when completed. Sustainability initiatives Meridian Energy has a strong focus on sustainability and renewable energy. The company has set a goal to become 100% renewable by 2030, and as of 2021, over 85% of its electricity generation comes from renewable sources. In addition to its renewable energy initiatives, Meridian Energy also has programs in place to reduce its carbon footprint and support environmental conservation. These include a program to offset the carbon emissions of its customersβ electricity use and partnerships with organizations like the Department of Conservation to support conservation projects. Community involvement Meridian Energy is committed to supporting the communities where it operates. The company has various community initiatives, such as its Power Up community fund, which provides funding for local community projects. In addition, Meridian Energy has a partnership with the Te RΕ«nanga o NgΔi Tahu, a MΔori tribal council, to support the development of renewable energy projects and provide economic opportunities for the tribe. The company also has a long-standing relationship with the National Science-Technology Roadshow Trust, which brings science and technology education to schools and communities across New Zealand.
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