Mercury is a renewables – only electricity company that provides around 17% of New Zealand’s electricity generation. Its generation mix is comprised of 5 geothermal plants and 9 hydropower plants which are located along the Waikato River, on North Island. Combined, they produced 7MWh of electricity in 2019.
The company is currently developing the 222MW Turitea wind farm near Palmerston North, on North Island. They have also installed solar PV installations for over 3600 residential and small business customers. They closed a gas power station in 2015.
The proceeds from their first bond will be allocated towards their wind and geothermal energy assets.
As of September 2020, three power companies in New Zealand have issued Certified debt. Contact Energy and Meridian Energy are the others.
|DATE OF ISSUE||SIZE||TENOR||COUNTRY OF ISSUE||CLIMATE BONDS SECTOR CRITERIA||VERIFIER'S REPORT||ANNUAL REPORT||FURTHER INFORMATION|
|September 2020||NZD 200 million (USD 128 million)||7 years||New Zealand||Wind, Geothermal||pre issuance assurance opinion|
|October 2020||NZD 100 million (USD 66 million)||10 years||New Zealand||Wind, Geothermal||same report as above|