WELLINGTON – June 24, 2025 – NZ Windfarms Limited (NZX: NWF) shareholders today approved a proposed scheme of arrangement. Under this scheme, Meridian Energy Limited (Meridian) will acquire 100% of the company. This marks a significant step, bringing New Zealand’s first wind farm repowering project, Te Rere Hau, closer to full realization. Consequently, it promises a substantial boost to the nation’s renewable energy capacity.
The Scheme Meeting saw overwhelming support for the resolution. Shareholders voted by the requisite majorities. Specifically, they secured over 75% of votes cast in each interest class. Furthermore, more than 50% of the total NZ Windfarms shares on issue were voted in favor of the acquisition.
Final Hurdles Ahead
Shareholder approval is now secured. The Scheme moves into its final stages. This includes applying to the High Court for final orders. Obtaining these orders remains a key condition for the acquisition’s completion. Additionally, customary implementation conditions must be met. The High Court in Auckland has scheduled the final hearing for July 16, 2025.
Rory Blundell, Meridian’s General Manager Strategy and Portfolio, expressed satisfaction with the outcome. “We’re delighted to have NZ Windfarms’ shareholder support,” Blundell stated. “Now, we look forward to the High Court process outcome.” He further emphasized: “If approved, this transaction will reward NZ Windfarms’ shareholders for the value created to date. Moreover, it will enable more efficient financing of the Te Rere Hau repowering project.”
Te Rere Hau: Pioneering New Zealand’s Wind Energy Future
The Te Rere Hau repowering project is central to this acquisition’s strategic importance. This ambitious undertaking involves designing, constructing, and operating up to 39 new turbines. These will have a projected generation capacity of up to 170MW. The project will become New Zealand’s inaugural wind farm repowering initiative. Consequently, it holds immense potential. It is projected to generate an impressive seven times the annual renewable energy production of the current turbines. This marks a significant advancement in the country’s clean energy landscape.
Source: Meridian Energy
