The Karapiro Power Station is a hydroelectric power station at Karapiro on the Waikato River, in the North Island of New Zealand. The power station lies on Lake Karapiro, a major rowing regatta venue. Karapiro is 30 kilometres (19 mi) south-east and upstream from the city of Hamilton and several kilometres from Cambridge. It is the last of the eight hydroelectric power stations on the Waikato River. Like all of the hydroelectric power stations on the Waikato River, Karapiro is operated by electricity generator Mercury Energy.