WELLINGTON (dpa-AFX) - Mercury NZ Limited (MCY.AX) on Thursday announced that it has invested NZ$53 million, equivalent to $30 million, for a 12.7 percent minority stake in Datagrid Holding Group NZ Ltd, a company developing a 360-megawatt data centre project in Southland.
The investment strengthens Mercury's position in supporting long-term renewable electricity demand and is being funded through existing capital facilities.
The North Makarewa project has already secured resource consent, with a final investment decision expected later this year. Mercury previously signed a 140-megawatt power purchase option agreement with Datagrid NZ and said the investment aligns with its strategy of supporting renewable generation through long-term demand from major electricity users.
Concurrently, Mercury CEO Stew Hamilton has joined Datagrid NZ's board, while Datagrid said the funding will help advance site construction and accelerate project development.
MCY.AX is currently trading at AUD 5.61, down AUD 0.04 or 0.71 percent on the Australian Stock Exchange.
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