STOCK EXCHANGE LISTINGS: NZX (MCY) / ASX (MCY)
NEWS RELEASE
Mercury eyes solar opportunity, seeks expressions of interest for 100MW PPA 25 January 2024 – Mercury is seeking expressions of interest from qualified parties for an offtake agreement for a new solar development. Mercury is looking for partners to develop, finance, build and run a large-scale solar project to supply approximately 100MW of renewable electricity to the grid by 2026. Mercury will buy the electricity at a price and for a period that can be agreed upon with the partner. “We’re looking for a partner with proven capability in solar development, who shares our goal to help drive New Zealand’s clean energy transition forward,” said Tim Thompson, GM Wholesale. “Solar has an important role to play in electrifying our economy and we’re keen to work with others on this opportunity.” Mercury expects the EOI process to attract a diverse range of participants, including independent generators and developers, recognising the role these groups play in the development of renewable energy in New Zealand. Mr Thompson said it was an especially exciting move for Mercury, as it would be its first step into grid-scale solar. “We believe solar has potential to support our renewable development ambitions by further diversifying our renewable portfolio of hydro, wind and geothermal.” “We expect more agreements like this in the future as we collectively work to meet the electrification opportunity ahead of us by accelerating renewable generation development.”
The EOI process is open until 29 February 2024 and interested parties can get in touch at wholesale@mercury.co.nz ENDS For investor relations queries, please contact: Paul Ruediger Head of Business Performance & Investor Relations 027 517 3470 investor@mercury.co.nz
For media queries, please contact: Shannon Goldstone Reputation and Social Impact Lead 027 210 5337 mercurycommunications@mercury.co.nz
ABOUT MERCURY NZ LIMITED Mercury generates electricity from 100% renewable sources: hydro, geothermal and wind. We are also a retailer of electricity, gas, broadband and mobile services. We’re listed on the New Zealand Stock Exchange and the Australian Stock Exchange with the ticker symbol ‘MCY’, with foreign exempt listed status. The New Zealand Government holds a legislated minimum 51% shareholding in the Company. Visit us at: www.mercury.co.nz