Looking to the sun

New Zealand power company Meridian Energy Ltd has purchased a Californian-based solar power facility Cleantech America for $8.1 million enabling the electricity generator to explore the potential of solar power in New Zealand. “Hydro has formed the backbone of our electricity supply for the best part of a century, and we are now seeing wind taking an ever-increasing role,” said chief executive Tim Lusk. “It is a natural progression from there to start looking seriously at how this country can harness its solar power resources.” The purchase also has the added benefit of “providing Meridian a toehold” from which it will seek opportunities to invest in renewable energy projects in the U.S., he said. Meridian is New Zealand’s largest state-owned electricity generator, accounting for about 30 per cent of the total electricity generation. It operates hydro and wind generation projects that supply around 200,000 residential and business customers in New Zealand.