19 Jan 2016

Mighty River buys solar energy company

12:41 pm on 19 January 2016

One of the country's biggest electricity companies is moving into the solar energy market.

solar panels

Photo: 123RF

Mighty River Power, operates hydro and geothermal power stations, is now buying a solar energy company, Auckland-based WPC.

Chief executive Fraser Whineray said it wanted to be able to offer its customers the chance to opt for solar electricity via its retail arm Mercury Energy.

"It's about offering customers choices for their energy needs and we see this as a need technology. We've said several times at our annual shareholders meetings we're focused on electric vehicles and solar panels for customers and that's exactly what we're getting into, this new technology."

Mr Whineray would not say what Mighty River was paying for the company.

Solar power installations are increasing in New Zealand but still remain well under 1 percent of all electricity connections.

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