In New Zealand, Meridian Energy sold its subsidiary Energy for Industry Ltd to Pioneer Generation for NZD$50m. Meridian is in the process of divesting its non-core assets. Fraser Jonker, Pioneer Generation’s chief executive, said that the acquisition of EFI, which is involved in process heat, biomass and biofuel sectors, was part of the company’s diversification plans. He also praised EFI’s strong future growth potential.
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