Mr Turner said: I’ve been here since day one in 1999 and I have been privileged to lead a wonderful team of dedicated professionals. I believe that all companies benefit from fresh thinking, and now is the right time for Meridian. Renewable energy is an idea whose time has come, and Meridian has an incredible pipeline of commercial opportunities that will deliver new value well into the future.

We’ve showed that renewable energy is not just good for the environment, it can be good for business too. While some people think that sustainability is just a fashion, Meridian has been walking the talk for nearly nine years now.

Wayne Boyd, chairman of Meridian Energy, said: Keith made a personal decision that this was the right time for a new chief executive to take Meridian forward into its next phase of growth, and I respect his decision.

Mr Boyd added that the company will now begin the search for a new CEO.