Aspiring Helicopters pilots Charlie Ewing and Doug Maxwell suspended the 500kg sculpture beneath a helicopter and flew the artwork through a -5degC snowstorm and over the Crown Range on Thursday afternoon.
Mr Hill supervised the installation of the privately-commissioned artwork in a lake on a Wakatipu Basin property.
The sculpture is about 5m across and 2.5m tall. It was welded together by engineers at Ernie Maluschnig's Wanaka Metalworks workshop under the direction of Mr Hill.
The work is designed to reflect themes of sustainability and its title refers to the "interconnectedness" of all things in nature, Mr Hill said.
A confidentiality agreement with the owners of Interdependence prohibits the disclosure of the sculpture's location, or its cost, Mr Hill said.