It will be the first Chinese power plant in New Zealand, and its owner says it will provide more competition.
The site of China's first ever energy plant in New Zealand is just outside Taupo. When fully developed, it will operate 24 hours a day for the next 50 years.
The Overseas Investment Office has just approved the deal, and 3 News has details under the Official Information Act. The land already had a partly finished geothermal plant on it, and Chinese rich-lister Dr Wanying will spent more than $300 million developing it over the next three years.
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