Mercury NZ (NZE:MCY, ASX:MCY) will build a NZ$287 million wind farm in Northland, raising its total commitment to new renewables to more than NZ$1 billion over two years, according to a Wednesday filing with the Australian and New Zealand bourses.
The 12-turbine, 77-megawatt wind farm project is expected to generate enough renewable electricity to power about 27,000 homes upon completion, per the filing.
Construction is scheduled to start in January 2025, with the first generation expected in mid-2026 and the full generation by the end of that year.
The renewable energy company's shares were up 3% in recent Wednesday trade in New Zealand and by nearly 4% in Australia.
Price (AUD): $6.12, Change: $+0.18, Percent Change: +3.03%
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