MEL - Meridian Energy

[RTM]

Fair point mate. Might as well spend some of your money on a boat than get 1% MEL is safe yield, nice and clean and green (all the ESG boxes ticked) for sure. But what's a fair return in a rising interest rate environment when you can get 8-10% gross elsewhere in some other stocks (e.g. HGH HLG) ?

Yeah...thats right. But in a nice diversified portfolio...we wouldn't want to large a %'s of our money in any one stock..would we ? And one pretty quickly runs out of safe'ish NZ companies to park ones money.

[Beagle]

Yeah...thats right. But in a nice diversified portfolio...we wouldn't want to large a %'s of our money in any one stock..would we ? And one pretty quickly runs out of safe'ish NZ companies to park ones money.

I'm really pushing the 15% limit boundary close with HLG and HGH so yeah I concur but I am also very wary of where 10 year Govt bonds will end up by the end of this year. Up from 1.0% to over 1.5% in just the last 3 weeks. Paywalled https://www.nzherald.co.nz/business/...G7ELHEFYKB7UA/

Perhaps 10 year Govt stock might end up at over 3% by the end of the year which has implications for the price of safe modest yielding stocks like this one that aren't paying much more than that. On the TA side of things I note a clean break down through the 100 day MA so I am staying out of this one until a new clearly defined floor is in place.

[RTM]

I'm really pushing the 15% limit boundary close with HLG and HGH so yeah I concur but I am also very wary of where 10 year Govt bonds will end up by the end of this year. Up from 1.0% to over 1.5% in just the last 3 weeks. Paywalled https://www.nzherald.co.nz/business/...G7ELHEFYKB7UA/

Perhaps 10 year Govt stock might end up at over 3% by the end of the year which has implications for the price of safe modest yielding stocks like this one that aren't paying much more than that. On the TA side of things I note a clean break down through the 100 day MA so I am staying out of this one until a new clearly defined floor is in place.

At times like this I resort to another posters method and check the dividend against my buy price....$1.50. I did try to sell recently but was to greedy. Nearly 1/3 of your stocks (income for me) in two stocks....not for me. Will continue to sit and watch.

[dreamcatcher]

Should read both MEL & CEN threads as both similar with suggestion of no need for bargain basement selloff from S&P weighting changes

[Sideshow Bob]

Meridian Energy Limited 2021 Interim Results - NZX, New Zealand’s Exchange

Meridian Energy interim net profit higher, cash earnings1lower24 February 2021

Meridian Energy has reported a 19% increase in net profit for the six months ended 31 December2020, which includes positive changes in the value of hedge instruments. Excluding these hedgevalue movements, Meridian has reported a 9% decrease in its EBITDAF1.

Customer growthcontinued, however lower New Zealand hydro generation and lower market prices in Australianegatively impacted EBITDAF from last year’s record level.Chief Executive Neal Barclay says Meridian’s performance partly reflected less than favourableconditions compared to the prior year.

Overall, our generation volumes were down 7% on the priorperiod due to lower starting storage and lower inflows into our catchments since October 2020.Generation volume and price volatility are a feature of New Zealand’s hydro-based renewableelectricity system; however the underlying performance of the business remains strong and we wereparticularly pleased that the strength of the Meridian and Powershop brands continued to shinethrough.“Customer numbers across New Zealand and Australia now exceed half a million and have grown 3%since June 2020. It is pleasing to see continued customer growth, demonstrating that our commitmentto excellent service and support is delivering,” Mr Barclay says.

Meridian announced in January 2021, that it had reached an agreement with its largest customer, RioTinto. Rio Tinto, who operate the Tiwai Point Aluminium Smelter in Southland will extend the plannedclosure period from August 2021 to December 2024.“The additional four years of smelter operation will be invaluable to the Southland region as it allowstime to create new business opportunities and new jobs for Southlanders. Meridian is committed toworking with a range of parties who are progressing some exciting new opportunities in Southland,from mega scale data centres to hydrogen production at scale. The availability of large amounts ofrenewable energy in Southland is a point of difference for the region and our country,” says Barclay

.“As a 100% renewable energy generator who is committed to protecting our environment, we’resupportive of the Climate Change Commission’s advice. We believe that the electricity sector is ahuge part of the solution to decarbonise our economy and support New Zealand businesses and1 EBITDAF is a commonly used non-GAAP measure reflecting earnings before interest, tax, depreciation,changes in fair value of hedges and other significant items (see page 2 for a reconciliation).meridianenergy.co.nzPG 2individuals to make the changes they need.

Our decision to build the new Harapaki wind farm is ournext step towards that solution.“We know that we will play a part in supporting our customers, from large businesses who need toinvest in technology and transition from fossil fuels, to every day New Zealanders. Everyone in ourcountry has the opportunity to prosper and thrive as we lock in net zero by 2050,” says Barclay.

[Sideshow Bob]

Meridian to build $395 million wind farm in Hawke’s Bay - NZX, New Zealand’s Exchange

Meridian to build $395 million wind farm in Hawke’s Bay

24/2/2021, 8:31 amGENERALMeridian Energy will soon begin construction of a new $395 million wind farm in Hawke’s Bay, boosting New Zealand’s ability to take action on climate change and accelerating the transformation of the economy to clean energy sources.

The Harapaki Wind Farm will be New Zealand’s second-largest wind farm with 41 turbines generating 176 MW of renewable energy, enough to power over 70,000 average households. The construction will take around three years and is expected to create 260 new jobs.

Meridian Energy Chief Executive Neal Barclay says the decision to commence construction now is a sign of confidence that clean energy infrastructure can deliver strong economic benefits.

“Renewable generation is an engine of economic growth for New Zealand. There’s a massive clean energy transformation underway in the New Zealand economy and now is the time to tackle climate action to support Aotearoa accelerate its transition away from fossil fuels.

“We need to move faster to convert our fossil fuel industries to clean energy, convert our transport fleet to electricity and ensure every new industrial development is powered by clean energy.”

Mr Barclay says New Zealand will need to build more grid-scale wind generation every year to reach its international and domestic emissions targets and meet demand as transportation and industry move from fossil fuels to clean energy.

“Recent advice from He Pou a Rangi, the Climate Change Commission, clearly signals that New Zealand must ambitiously pursue bold climate goals to achieve net-zero emissions, and this is what getting there looks like. Building more new renewable generation like Harapaki will help us lower emissions, reduce our reliance on fossil fuels and speed up our transition to a productive low carbon economy,” Mr Barclay says.

Meridian is the country’s largest and most experienced owner of wind farms, with five currently in operation around New Zealand. Mr Barclay says Harapaki will use advanced wind generation technology from Europe to set new benchmarks for turbine efficiency and sustainable construction practices. Design reviews have lowered the amount of concrete and steel needed in construction, reducing the overall carbon footprint of the project by over 30%.

“Our vision is for Harapaki to be New Zealand’s most sustainable wind farm and one that delivers transformative economic growth and advances our goals for climate action,” Barclay says.

Siemens Gamesa Renewable Energy:
Supply, installation and maintenance of 41 x SWT-DD-120 4.3MW wind turbines

Hick Bros Spartan Joint Venture:
Construction of all roads, turbine foundations and crane hardstands

Transpower:
Supply, installation and commissioning of substation and 220kV grid connection

Unison Contracting Services:
Electrical services for substation, cable jointing and 33kV switchgear installation

Hyosung:
Supply, install and commissioning of 220/33kV transformers

Prysmian:
Supply of 33kV reticulation cable

[Soolaimon]

Down quite a bit today, backed the trailer in for a few.

[bull....]

should be under 5 soon , see morning star have a 3.90 price valuation

[Tomtom]

Let's hope MorningStar are correct, as an existing holder I would definitely be interested at those levels.

[alokdhir]

Let's hope MorningStar are correct, as an existing holder I would definitely be interested at those levels.

With Bond yields rising your wish will be fulfilled sooner then u think ....