Meridian Energy Puts Brakes on the 260-Megawatt North Bank Hydro Project

PERTH, AUSTRALIA--January 24, 2013--Researched by Industrial Info Resources (Perth, Australia)--Meridian Energy Limited (Wellington, New Zealand) has suspended plans to build a 260-megawatt (MW) hydro project in New Zealand, according to an announcement made by Chief Executive Officer Mark Binns. "We've made a decision to suspend the land negotiations because of the current flat demand for electricity, which means fewer new generation projects will be required in the short- to medium-term," Mark Binns said in a release. "As a result, further work on land access is being suspended."