Maraetai Power Station is a hydroelectric power station on the Waikato River, in the North Island of New Zealand. It is the fifth of the eight hydroelectric power stations on the Waikato River, and at 360 MW, is the largest hydroelectric station on the Waikato.The station has two powerhouses - Maraetai I powerhouse is directly in front of the Maraetai Dam, while Maraetai II powerhouse is located 550 metres (1,800 ft) downstream of Maraetai I.