Meridian Energy (ASX:MEZ, NZE:MEL) secured approval to develop the Bunnythorpe Energy Park in Manawatu in New Zealand's North Island, featuring a 120-megawatt (MW) solar farm alongside a previously approved battery energy storage system, according to a Friday filing with the Australian and New Zealand bourses.

The project will feature about 250,000 solar panels that are expected to produce around 225 gigawatt-hours of electricity each year, enough to power roughly 30,000 homes, per the filing.

The development is part of the company's NZ$3 billion renewable energy investment plan through 2030 and comes after its first energy park project at Ruakaka, the filing said.

The project is expected to generate more than 100 local construction jobs and contribute up to NZ$50 million in local spending, with a final investment decision expected in the fourth quarter of fiscal 2027, the filing added.