Snowy Hydro 2.0 has blown out to 12 times its original cost – but the CEO says it ‘could have been worse’

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Snowy Hydro 2.0’s projected cost has risen to as much as A$25 billion, up from an initial A$2 billion estimate, and completion has been delayed until 2029. The company says tunnelling is 65% complete, while the project’s cost and schedule have undergone major revisions.

New projections by the Snowy Hydro company show tunnelling work is now 65% finished, but the completion date has been pushed back to 2029 Get our breaking news email, free app or daily news podcast The cost of Snowy Hydro 2.0 has blown out to as much as $25bn, with a major reassessment finding the long-delayed renewable energy project will not be completed until the end of the decade. First touted by the Turnbull government in 2017 with a price tag of $2bn, the cost of the project in the Kosciuszko national park has increased dramatically over time. In 2023 it was revised to almost $13bn, with construction due to completed by the end of 2028. Continue reading...