[1] Although the scheme had considerable support from some locals, it met with opposition from many other groups, and Meridian Energy decided in March 2004 not to go ahead with the project.
The plan was to divert river water at the rate of up to 280 cubic metres per second into a separate canal for six power stations.
The objections to the scheme included land issues, the disruption during construction, and concerns about the sustainability of the river.
Among their reasons were the uncertainty in gaining access to the water, that Aqua could not come on line soon enough to meet New Zealand's growing electricity demand, the amount of money it was costing the company, design changes due to geology reports, and the Resource Management Act making it difficult to get consent for large water based projects.
Subsequently, Meridian proceeded to develop an alternative hydroelectric scheme along the same stretch of the Waitaki River - the North Bank tunnel project.