Meridian Invests Millions In US Photovoltaics
August 26th, 2009
Meridian Energy has taken control of California-based Cleantech America Inc, a photovoltaic electricity producer with a contract to construct the state’s first “utility-scale” solar PV project under the California Public Utilities Commission’s Renewable Portfolio Standards (RPS) programme. The US move adds solar technology to Meridian’s portfolio for the first time and “will ultimately see us bringing solar to the NZ market,” says CEO Tim Lusk. The 5MW CalRENEW-1 project in Mendota will sell electricity on long term contract to Pacific Gas & Electric Company at an undisclosed price. The US Environmental Protection Agency administers the RPS scheme federally and indicates that schemes will not produce energy at commercially viable prices at first, and are intended to build markets for clean energy.
The EPA website says “the goal of an RPS is to stimulate market and technology development so that, ultimately, renewable energy will be economically competitive with conventional forms of electric power.” Lusk says the company will continue to operate as it does now, but “will be given a distinct Meridian feel.”
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