Completion of Ruakākā Battery Energy Storage System

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Meridian Energy Limited (ARBN 151 800 396) A company incorporated in New Zealand
Level 2, 98 Customhouse Quay, Wellington 6011

meridianenergy.co.nz
Stock Exchange Listings NZX (MEL) ASX (MEZ)
Completion of Ruakākā Battery Energy Storage System

23 May 2025


Construction of New Zealand’s first large-scale grid battery storage system is now complete, with
Meridian Energy’s Ruakākā Battery Energy Storage System (BESS) being officially opened in a
ceremony later today.

The Ruakākā BESS has a maximum output of 100MW of electricity and storage capacity of 200MWh,
enough to power around 60,000 average households during winter for a two-hour period.

Construction of the BESS, located south of Whangārei, began in the first quarter of 2023 and has
been completed inside the project’s original $186 million capital envelope.

Meridian’s General Manager Development, Guy Waipara, says the BESS adds a North Island storage
asset into New Zealand’s electricity system, and one that will perform a number of key roles.

“This BESS is a new and exciting addition to our asset portfolio. It gives us the ability to load shift
between price periods, smooth out peak periods, provide greater resilience to Northland and enable
Meridian to participate in the North Island electricity reserves market.”

“Although construction and commissioning are now complete, some steps remain before the BESS is
fully operational, including approval of final commissioning test results.”

Meridian’s focus has now turned to the neighbouring $227 million, 130MW Ruakākā Solar Farm, with
construction set to begin in August 2025. Together with the BESS, this forms Meridian’s Ruakākā
Energy Park.

“These will be key assets for Northland, and for New Zealand. There is a tremendous amount going
on across the industry to ensure Kiwi homes and businesses continue to have all the electricity they
need at prices that continue to be internationally competitive. Meridian is stepping up to the challenge
with the Ruakākā Energy Park, part of $3 billion we will invest over the next five years,” says Guy
Waipara.

The company has four other projects already consented, including another BESS in Manawatū, and
several others progressing through consenting processes. In addition to Manawatū, Meridian intends
to incorporate batteries into a number of new solar farm projects.

Meridian’s battery partner for Ruakākā is Saft, and Transpower has also played a key role in planning,
construction and commissioning.

“This has been a real team effort and Meridian thanks both for their contributions to the project. Being
the first of its kind in New Zealand, there has been a lot to learn,” says Guy Waipara.

meridianenergy.co.nz
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ENDS

Authorised for release by:

Jason Woolley
General Counsel and Company Secretary
Meridian Energy Limited


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