Meridian Energy has bulked up on Australian renewables to a greater extent than it originally anticipated to support its growing Powershop retail arm, sealing a $168 million deal to buy three hydropower plants and signing contracts to buy power from Victorian and NSW wind and solar projects.

The deals will add hydro, wind and solar capacity to Meridian Energy Australia's existing wind farms, making it easier to manage the risks of intermittent generation, said Ed McManus, head of the Australian business and chief executive of Powershop Australia.