MCY Covid-19 response: suspension of non-essential activity

`
The Mercury Building, 33 Broadway, Newmarket 1023

PHONE:
+ 64 9 308 8200
mercury.co.nz
PO Box 90399, Auckland 1142
New Zealand

FAX:
+ 64 9 308 8209



Mercury suspends non-essential activities as
required by the government’s COVID-19 response
25 March 2020 – Mercury, working with its contractors, will suspend construction work across its sites as required by
the New Zealand Government’s COVID-19 directions. This includes the standing down of activity at its Turitea wind
farm in the Manawatu for a period of time.
Acting Chief Executive William Meek says Mercury’s focus must be on the safety and wellbeing of our people while maintaining
energy supply and services to our customers and for New Zealand through this time of uncertainty.
“As non-essential construction work must be halted as part of New Zealand’s response to COVID-19, Mercury in conjunction
with its contractors has immediately started securing its Turitea wind farm construction site and putting a temporary hold on
certain other work currently in progress,” Mr Meek says.
The Turitea wind farm’s northern zone turbines were scheduled to be generating electricity this coming summer, with the
remaining southern zone turbines expected to be completed late in calendar year 2021. Commissioning is expected to be
delayed by the duration of any suspension although efforts will be made to accelerate work if and when safe and practical to do
so. Ultimately the $464m project is expected to add $55m to Mercury’s EBITDAF (northern zone $30m/southern zone $25m).
Mercury will monitor COVID-19 response levels, and work with Vestas, Electrix and Transpower to re-start construction at an
appropriate time.
Mercury’s geothermal well drilling programme at Rotokawa will also be paused while the government’s Level 3 or Level 4 alert
levels are in place.
Important planned maintenance activity will be completed at some power stations to return generating units to service essential
to the country’s electricity security of supply during winter.
“Mercury is well prepared to support the nation’s response to the evolving COVID-19 coronavirus pandemic, with a focus on our
people, our customers and on business continuity, and that includes making important decisions in relation to current growth
and development activity,” Mr Meek says.


Howard Thomas
General Counsel and Company Secretary
Mercury NZ Limited

For investor relations queries, please contact:
Tim Thompson
Head of Treasury and Investor Relations
0275 173 470
For media queries, please contact:
Craig Dowling
Head of Communications
027 210 5337


ABOUT MERCURY NZ LIMITED
Mercury’s mission is energy freedom. Our purpose is to inspire New Zealanders to enjoy energy in more wonderful
ways and our goal is to be New Zealand’s leading energy brand. We focus on our customers, our people, our
partners and our country; maintain a long-term view of sustainability; and promote wonderful choices. Mercury is
energy made wonderful. Visit us at: www.mercury.co.nz

STOCK EXCHANGE LISTINGS: NZX (MCY) / ASX (MCY)

NEWS RELEASE