The North Bank tunnel concept was a hydroelectric scheme being developed by Meridian Energy on the Waitaki River in Canterbury, New Zealand. The $993 million project was expected to produce an additional 1,100 to 1,400 gigawatt-hours (4,000 to 5,000 TJ) per annum, and take up to 260 cubic metres per second (9,200 cu ft/s) of water from Lake Waitaki. The project would have resulted in a 275 gigawatt-hours (990 TJ) per annum reduction in output from the Waitaki hydro station. This project is at a similar location to Project Aqua, a hydroelectric power proposal abandoned by Meridian in 2004.