TrustPower, Ngai Tahu Holdings may invest $106M in Ruataniwha water scheme

Thu, 19 Sep 2013

Sept. 19 (BusinessDesk) – TrustPower, the utility controlled by Infratil, and Ngai Tahu Holdings may fund up to 40 percent of the capital costs of the controversial Ruataniwha Water Storage Scheme in Hawke’s Bay. The power company and the commercial arm of the South Island tribe have signed a memorandum of understanding with Hawke’s Bay Regional Investment Company (HBRIC) to potentially invest in the scheme, which would take enough water from the Tukituki River to irrigate up to 30,000 hectares of land. The resource consent applications are...

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