Trustpower pull-out a big blow to dam project

The Ruataniwha Dam project could be left high and dry by the Trustpower pullout, raising serious questions about the business case, says Labour’s Water spokesperson Meka Whaitiri.

"The rate of return and the low uptake from farmers clearly spooked the major investor Trustpower into withdrawing.

“Ratepayers in the Hawke’s Bay should be seriously concerned. If a large electricity company like Trustpower is convinced the economics do not stack up then why does the Hawke’s Bay Regional Council think it is ok for ratepayers to invest?

“The Council needs to release all economic information and business cases so the people of Hawke’s Bay can properly evaluate the economic benefit of the proposed Ruataniwha dam," says Ms Whaitiri.

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