Vaisala provides data Down Under
Finnish company Vaisala is to supply long-term wind measurement data for a wind farm in South Australia.
The data is required by Endurance Global Weather in order to complete a multi-year wind hedging transaction with Australian electricity supplier Meridian Energy. This contract protects Meridian Energy against production and earnings volatility for its Mt. Millar wind farm.
According to Endurance Global Weather, its customised Windlock product “offers customised risk protection for companies needing to manage the wind variability of operating assets as well as assets in development”. Access to reliable long-term climate analyses is essential for pricing and structuring these transactions.
“We’re excited to play such a key role in this ground-breaking transaction,” says Pascal Storck, Vaisala’s global manager of energy services. “By providing accurate wind measurements at Mt. Millar, where there is no public weather station at the relevant hub height, we are able to reduce potential basis risk for Meridian.”