Gentailers spend $180m smoothing Waitaki consent path

Lake Benmore was created when the Waitaki hydro scheme was developed. (Image: Getty)

Thu, 09 Nov 2023

Genesis and Meridian are spending more than $180 million to smooth the path of re-consenting the Waitaki hydro scheme.This includes payments to three Ngāi Tahu hapū, the Department of Conservation (DoC) and others to redress past damage in exchange for supporting the application.In a joint statement to BusinessDesk, the two companies confirmed an agreement had been reached with three hapū to support the re-consent.BusinessDesk has been told the agreement comes with a package of more than $100m, but the gentailers would not confirm this, saying...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Already a Subscriber ? Sign in here.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Opinion

David Chaplin: Why platforms are responsible in Australia, not NZ

NZ investment platforms will add products if requested by enough advisers.

David Chaplin 5:00am

Economy

Weak economy sharpens debate on how deep the rate cut will be

The GDP contraction opened up the door for a 50bps cut.

Rebecca Howard 5:00am

Weak economy sharpens debate on how deep the rate cut will be

Markets

Power companies spend millions on television advertising

Four main generators spent a combined total of $33.5m from January to July on advertising.

Brianna McIlraith 5:00am

Power companies spend millions on television advertising

Sponsored

The double edge of AI in cyber security

Artificial intelligence has the potential to become both a lifeline and a liability for modern organisations, as a revolutionary tool capable of spotting threats at lightning speed, but also the ultimate weapon in the hands of cybercriminals.

Spark

Sponsored

AI agents: opportunity or graveyard? Spark’s five-point playbook for success

Artificial intelligence agents – autonomous digital entities that analyse data, automate decisions, and act independently – are set to drive a new wave of business transformation.

Spark Enterprise