| NSEL successfully negotiated a settlement agreement for the Waitaki Protection Trust with Meridian Energy Limited. The settlement resolves the Trust's appeal against Environment Canterbury’s decision to grant Meridian resource consent take 260 cumecs of water from the Waitaki River for the proposed North Bank Tunnel electricity generation project. The settlement agreement provides funding for the Trust's experts to work with Meridian’s experts in the preparation of river management plans designed to mitigate the effects of the North Bank Tunnel project. |
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| Bob Robertson, Chairman Waitaki Protection Trust (CEO Infinity Investment Group Limited) said "I was extremely pleased with the strong appeal that NSEL lodged against Meridian's resource consent, and NSEL's subsequent ability to work constructively with Meridian to negotiate a successful outcome for the Trust." |
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