Mercury NZ profit rebounds to $321m, dividend lifted
Mercury NZ reported a significant rebound in net profit to $321 million for the June year, driven by new renewable energy projects and improved conditions. The company is investing heavily in the Puke Kapo Hau wind farm to support growing data center demand in New Zealand.
Why it matters
The shift toward large-scale renewable energy infrastructure is critical for meeting the power demands of modern data centers and achieving national sustainability goals.
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Mercury NZ says it will spend $506 million on a project in Otago that will create New Zealand’s biggest wind farm.
The company reported a net profit of $321m in the June year, up from just $1m in 2025 – a year affected by a dry spell and low gas reserves.
Mercury’s earnings before interest, tax, depreciation, amortisation and financial instruments (ebitdaf) – gained 36% to a record $1068m.
Mercury said its next big renewable development would be the Puke Kapo Hau (Mahinerangi Stage 2) Wind Farm, west of Dunedin.
Final grid connection studies are being completed with Transpower, it said.
Mahinerangi Wind Farm (Stages 1 and 2) is expected to be New Zealand’s largest wind farm once complete, with 228 megawatts of total capacity and annual generation of 646 gigawatt hours, the company said.
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