State-owned electricity firm Meridian Energy has purchased a Hawke's Bay firm handling resource permission approval for a big wind farm north of Napier.

As the faultlines have been seen along with the proposed route of the Canterbury's River Project of Hydro-electric Tunnel, it has immediately persuaded the authorities for the redesign of the same.

The state-owned power Company, Meridian Energy plans to resurrect its Project Hayes wind farm, is witnessing a spate of new issues spiraling over it, despite High Court's approval for it.

The power Company seeks to construct 176 wind turbines in the Lammermoor Range under a $2 billion project. The project capacity is reported to be 630 megawatts and will cover over 135 square kilometers of mountainside.

According to an analyst, Meridian Energy can be made attractive for investors, with the help of a billion-dollar wind farm joint-venture in Australia. But for that, Government’s approval for floating the company in its second term will be needed.

AGL Energy Ltd has announced on Thursday that it will partner with New Zealand's Meridian Energy to build a wind farm in Victoria State by early 2013, which will cost about one billion Australian dollar.

This shows that policy measures made by Australia to encourage renewable energy investment have started giving good results.

Meridian Energy entered a High Court battle over plans for the country's biggest wind farm and is appealing an Environment Court decision stymieing Project Hayes in Central Otago.

Contact Energy's Clyde Dam on the Clutha River was the last major power station built in the South Island constructed during the 1980s and commissioned in 1992.