NZ's Mercury to break ground of 119-MW wind project this summer

New Zealand power producer Mercury NZ Ltd (NZE:MCY) today announced plans to spend NZD 256 million (USD 174.1m/EUR 154.5m) on building a 119-MW wind farm in New Zealand’s Manawatu-Wanganui region.

The state-owned company said in a bourse filing it has obtained approval to build 60 turbines and transmission infrastructure at the site, in proximity to another area where it has plans for a 53-turbine wind farm. It intends to launch on-site construction works and start installing the first 33 turbines, totalling 119 MW, around August. The capital cost of the project will be funded from the company’s existing debt facilities.

Once completed, the Turitea wind farm near Palmerston North, is expected to generate 470 GWh of electricity annually. Its commissioning is planned to begin from late 2020, Mercury said, adding that the facility will be the third largest wind farm in New Zealand.

Vestas-New Zealand Wind Technology Ltd has been picked as the project’s engineering, procurement and construction (EPC) contractor and will also service the plant following completion. Electrix Ltd and Transpower, meanwhile, will be responsible for building the related transmission infrastructure.

(NZD 1.0 = USD 0.680/EUR 0.603)

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