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The Karapiro Power Station is a hydroelectric power station on Waikato River in the North Island of New Zealand. The power station station lies on Lake Karapiro 30 kilometres (19 mi) upstream from the city of Hamilton. Karapiro is the last of the eight hydroelectric power stations on the Waikato River.Karapiro is a baseload power station as it is required to maintain water flow in the lower Waikato River even during low inflows to the catchment and during low electricity demand.

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