Southern Hydro hedges drought exposure

Southern Hydro Partnership (SHP) last month entered into a three-year weatherderivatives contract with Credit Lyonnais Rouse Derivatives (CLRD) to protectagainst the risk of low rainfall. CLRD did not divulge the size of the deal.

Southern Hydro, which is owned by New Zealand’s Meridian Energy, owns andoperates 600 megawatts of renewable hydroelectric facilities in South East Australia – mostof its assets being located in rural Victoria and New South Wales. CLRD is adivision of French bank Cr

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