Transpower to recommence Clutha-Upper Waitaki Lines Project

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Transpower announces commencement of remaining
Clutha to Upper Waitaki Lines Project works

3 December 2019
The New Zealand national grid owner Transpower (NZX:TRP) has today announced commencement
of further work on the Clutha to Upper Waitaki Lines Project.
As part of this work programme, under a new agreement, Meridian (NZX:MEL) will contribute 5 million
dollars (NZD) to Transpower’s programme, to support work starting two of the three remaining
projects over the upcoming 2019/20 New Zealand summer months. The aim is to complete all the
remaining projects by June 2022, almost a year ahead of what would have been considered
previously.
Contact Energy (NZX:CEN) has also today announced a separate agreement with Transpower to
support the commencement of the remaining project works.
Meridian’s Chief Executive Neal Barclay says, “We commend Transpower for its response and
collaboration in commencing the next phase of evolution of New Zealand’s national grid.”
Once the remaining works are complete, it will alleviate existing constraints and significantly reduce
the risk of renewable electricity not being dispatched, should Rio Tinto choose to close its Tiwai Point
aluminium smelter in the future.
New Zealand Aluminium Smelters Limited’s major shareholder, Rio Tinto, announced on 23 October
2019 it was initiating a strategic review of the smelter and will provide the market with an update on
their process by the end of the first quarter in 2020.
“Transpower’s announcement, with the support from Meridian Energy and Contact Energy is a
positive investment for New Zealand and will mean renewable electricity from fantastic South Island
hydro stations can be used by more Kiwis,” adds Barclay.
ENDS
Neal Barclay
Chief Executive
Meridian Energy Limited


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