Cost of Major Australian Hydro Project Balloons to $23 Billion from $2 Billion

Australia’s Snowy 2.0 hydroelectric project, an expansion of the original Snowy Mountains Hydroelectric Scheme, has seen its projected cost escalate dramatically. Originally estimated at $2 billion, the cost has now climbed to $22.2 billion, with an allowance up to $25 billion. The project, initially announced in 2017, is now anticipated to be completed in late 2029, a year later than initially planned.

• 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.