New cost estimates for the Snowy Hydro 2.0 project have surged to as much as $25 billion, far exceeding the original $2 billion budget announced in 2017. Tunnelling work is now 65% complete, but the latest reassessment delays completion until 2029, marking another shift from the previously expected 2028 finish. The renewable energy initiative, located in Kosciuszko National Park, has seen its price tag balloon significantly, rising from nearly $13 billion in 2023. The project’s timeline and expenses continue to evolve as construction progresses.
New projections by the Snowy Hydro company show tunnelling work is now 65% finished, but the completion date has been pushed back to 2029Get our breaking news email, free app or daily news podcastThe 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...
