New Zealand's NZ Windfarms eyes best day ever on wind farm repowering JV with Meridian Energy

NZ Windfarms

26/10/2023 24:28

** Shares of NZ Windfarms Ltd  NWF.NZ  rise as much as 35%
to NZ$0.158 , on track to have its best day ever if gains hold
    ** Wind energy co says it has entered into an equally owned
joint venture with Kiwi power co Meridian Energy Ltd  MEL.NZ  to
repower and extend the Te Rere Hau wind farm in North Island
    ** Says the repowered wind farm is expected to produce about
740 to 753 GWh of electricity, 7x the existing wind farm
    ** Says as part of deal, Meridian will buy 13.04% stake in
co at A$0.155 per share, representing a 32.5% premium as of last
close 
    ** Stock hits highest level since Dec 21, 2022
    ** More than 1.3 million shares change hands, compared with
the 30-day average volume of 80,463
    ** Stock down 24.5% YTD, based on last close

 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.GovindRao@thomsonreuters.com;))