Meridian Energy Clears Key Hurdle for 120MW Solar Farm in Its $3B Build Plan
Meridian Energy gains consent for 120MW Bunnythorpe Solar Farm in Manawatū
Meridian Energy (ASX: MEZ) has received consent to build a 120MW solar farm at Bunnythorpe, north of Palmerston North, marking a meaningful step forward in the company’s renewable energy build programme. The project will feature approximately 250,000 solar panels, capable of generating around 225GWh of electricity per year, enough to power roughly 30,000 average New Zealand homes. The Bunnythorpe Energy Park forms part of Meridian’s $3 billion investment programme running through to 2030.
When big ASX news breaks, our subscribers know first
What the Bunnythorpe Energy Park involves
The 280-hectare site sits between Ashhurst and Stoney Creek Roads, adjacent to Transpower’s Bunnythorpe substation, a location well suited for grid connection. The energy park comprises two components: the 120MW solar farm, which has now received consent, alongside a battery energy storage system (BESS) that was previously consented. The solar consent is the new development being announced on 15 May 2026.
Bunnythorpe will be Meridian’s second energy park, following the Ruakākā Energy Park near Whangārei, where the BESS was completed in 2025 and a 130MW solar farm is currently under construction.
Regional footprint and economic impact
- Meridian has operated in Manawatū for more than 20 years through its Te Apiti and Te Rere Hau wind farms.
- The project is forecast to create in excess of 100 local construction jobs.
- Local spend throughout construction is estimated at up to $50 million.
Guy Waipara, GM Development, Meridian Energy
“We’re thrilled to receive this approval and have the opportunity to expand our presence in Manawatū. Meridian has been part of this amazing community for more than 20 years through our Te Apiti and Te Rere Hau wind farms. Solar energy is playing an increasingly important role in New Zealand’s electricity generation, and we’re excited to bring this to Manawatū.”
Understanding Meridian’s renewable energy build programme
Solar farms convert sunlight directly into electricity, while a BESS stores surplus energy and releases it when demand is highest. Pairing both technologies at a single energy park improves grid reliability and helps smooth out the variability inherent in solar generation, which is central to making renewable electricity more consistently available and affordable.
For investors, consent milestones carry specific significance. Obtaining resource consent clears a major regulatory hurdle before any capital is formally committed, reducing project risk. A final investment decision (FID) is the subsequent step, where the company’s board formally approves and commits capital to proceed with construction. Projects that have reached consent stage are measurably lower risk than those still working through regulatory approvals.
Where Bunnythorpe fits in the $3 billion pipeline
The table below summarises Meridian’s current development pipeline across its $3 billion programme:
| Project | Type | Status | FID Expected | Notes |
|---|---|---|---|---|
| Ruakākā BESS | BESS | Completed 2025 | N/A | — |
| Ruakākā Solar | 130MW Solar | Under construction | N/A | First power expected late 2026 |
| Mt Munro Wind Farm | Wind | Pre-FID | Late 2026 | — |
| Te Rere Hau Wind Farm | Wind | Pre-FID | Early 2027 | — |
| Bunnythorpe Energy Park | 120MW Solar + BESS | Consented | Q4 2027 | Subject to board FID |
The next major ASX story will hit our subscribers first
Investment thesis and next steps
The Bunnythorpe Solar Farm consent represents a concrete step forward in Meridian’s multi-year renewable energy programme, progressing a project from planning through to a consented, investable stage. The project remains subject to a board final investment decision, currently expected in Q4 2027, meaning capital commitment is not yet confirmed. Investors should note the project is one of several in sequenced development, each dependent on its own FID milestone.
Both increasing New Zealand’s renewable energy supply and supporting electricity affordability are stated objectives of the programme, positioning Meridian to benefit from continued policy and commercial tailwinds in the domestic energy market.
Key dates and milestones to watch
- Ruakākā Solar Farm: first power expected late 2026
- Mt Munro Wind Farm: FID expected late 2026
- Te Rere Hau Wind Farm: FID expected early 2027
- Bunnythorpe Energy Park: board FID expected Q4 2027
Don’t Miss the Next Utilities Sector Breakout
Big News Blast delivers FREE breaking ASX news straight to your inbox within minutes of release, complete with in-depth analysis already done for you. Join 20,000+ subscribers staying ahead of market-moving announcements across the utilities sector and beyond. Click the “Free Alerts” button to start receiving real-time coverage the moment news breaks.