Meridian to mothball North Bank hydro project

Fri, 18 Jan 2013

Jan 18 (BusinessDesk) - Meridian Energy is canning its planned North Bank Hydro Project on the Waitaki River for the foreseeable future, saying it is uneconomic in the current flat electricity market. "Like other generators we recognise that the demand outlook for the next five years is probably flat to slightly declining," chief executive Mark Binns said in a statement. Land access negotiations will be suspended indefinitely. This is the second time in a decade that Meridian has dropped anchor on a hydro scheme based on an intention to chan...

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