The Hawke's Bay Regional Council says it will not appeal against the board of inquiry decision on the Ruataniwha Dam, but it is still unclear what its investment arm will do.
The Environmental Protection Authority released its final decision last week, which gives consent to build the scheme and sets water quality standards for the catchment.
Chairman Fenton Wilson said on Friday the council believes the board of inquiry decision will protect the Tukituki River while balancing economic interests.
However, it is still unclear whether the council's investment company, HBRIC, will appeal against the board of inquiry decision.
It is also not clear whether the company believes the consent is workable.
HBRIC said on Friday it would not make any comment until after its board meeting on 14 July.