Cost of Major Australian Hydro Project Balloons to $23 Billion from $2 Billion
The project, announced in 2017 under the Turnbull Liberal government, is now expected to be completed in late 2029.
TL;DR
- The cost of Australia's Snowy 2.0 Hydroelectric Scheme may increase by an additional $23 billion.
- The original estimated cost was $2 billion.
- Snowy 2.0 is an expansion of the original Snowy Mountains Hydroelectric Scheme.
- It is expected to add 2,200 mega watts of electricity generation capacity and 350,000 mega watt hours of storage.
- The target cost has risen to $22.2 billion, with an allowance for $25 billion.
- The project was announced in 2017 under the Turnbull Liberal government.
- Completion is now expected in late 2029, a year later than originally announced.